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Stock Market & Financial Investment News

News Breaks
July 10, 2014
08:05 EDTGPRKGeoPark announces new oil well discovry in Llanos 34 Block IN colombia
GeoPark announced the discovery of the Tigana Norte 1 oil well on its Llanos 34 Block in Colombia. GeoPark is the Operator of and has a 45% working interest in the Llanos 34 Block. GeoPark drilled and completed the Tigana Norte 1 well to a total depth of 12,141 feet. A test at approximately 11,557 feet, resulted in a production rate of approximately 1,061 Bopd of 14.6 degrees API, with a 0.49% water cut, through a choke of 24/64 inches and well head pressure of 235 pounds per square inch. Further production history will be required to determine stabilized flow rates of the well. The field is currently producing over 8,500 bopd gross from the 5 wells drilled and completed to date. The company is carrying out further development and appraisal drilling this year on the Tigana Field complex.
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July 6, 2015
16:48 EDTGPRKGeoPark announces exploration potential evaluation of Latin American portfolio
GeoPark Limited announced the results of an independent audit of the company's exploration resources as of December 31, 2014, prepared by Gaffney, Cline & Associates. GeoPark has interests in 31 blocks, covering over six million acres, in 12 proven hydrocarbon basins, in five Latin American countries, with a risk-balanced mix of production, development, exploration and unconventional resource opportunities. GeoPark's current production is approximately 19,500 BOEPD and oil and gas reserves , as of December 31, 2014 certified by DeGolyer & MacNaughton, include proven reserves of 63 MMBOE, proven and probable reserves of 122 MMBOE, and proven, probable and possible reserves of 221 MMBOE. DeGolyer & MacNaughton has estimated the Net Present Value of GeoPark's 2P reserves to be $1.7B.GCA's audit was focused on the evaluation of new prospective exploration resources covering 98% of GeoPark's total exploration resources beyond its known and certified oil and gas proven, probable and possible reserves. Commenting, James F. Park, CEO of GeoPark, said: "This exploration resource estimate confirms the extent, depth and potential of GeoPark's in-house project inventory and the running room we have for continued organic growth. In addition to our already-discovered and significant oil and gas reserve base, we own a big mix of assets with the potential for finding 770M to 1.5B BOE of new oil and gas reserves. These represent attractive assets, located in proven hydrocarbon basins with existing infrastructure, and which are managed by GeoPark's geoscience and operations team, with our 70+% drilling success rate since 2008 and consistent nine year growth track record."

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