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Stock Market & Financial Investment News

News Breaks
July 17, 2014
08:09 EDTGPRKGeoPark reports Q2 production increased 57% to 20,411 BOE/d
GeoPark reported Q2 oil and gas average production up 57% to a record 20,441 boepd vs. 2Q13. The company continues on-track to reach full year production targets. In Q2, a total of 13 new wells were drilled, consisting of seven wells in Chile and six wells in Colombia, of which ten were exploration wells and three were development and appraisal wells. These new wells are part of the total $220M-$250M work and investment program in 2014, which consists of drilling 50-60 wells.
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April 22, 2015
08:12 EDTGPRKGeoPark reports Q1 oil and gas production averaged 19,586 boepd
GeoPark's oil and gas production in 1Q2015 averaged 19,586 boepd, which represents an 18% increase from last year, led by the strong production growth in the Llanos 34 Block in Colombia which also compensated the temporary shut-in of marginal fields in Colombia and Argentina. As announced on January 20, 2015, GeoPark has designed its 2015 plan based on an average oil price assumption of $45-$50 per barrel, targeting a fully-funded $60M-$70M work and investment program, which can be adjusted depending on oil price performance. This program currently includes drilling 4-5 wells in Colombia, mainly in the Tua and Tigana fields during 2H2015, investments to support production in Chile and Brazil, as well as other project enhancement investments in Argentina and Peru. Overall cost reduction efforts and results include estimated operating costs reduction of more than 20% and up to 30% reduction in drilling along with other services costs as compared to 2014. Average production in Colombia increased by 25% in Q1 to 11,586 boepd. Average production in Colombia increased by 25% in Q1 to 11,586 boepd. Average oil and gas production in Chile decreased by 38% in Q1 to 4,486 boepd. Average gas production in Brazil amounted to 20,659 mcfpd, or 3,494 boepd, in Q1. Production in Argentina during the 1Q2015 amounted to 20 bpd in the Q1 and was impacted by the temporary shut-in of the Del Mosquito field during the quarter.
April 14, 2015
08:03 EDTGPRKGeoPark announces resumption of share repurchase program
GeoPark announced that it will resume its program to repurchase up to $10M of common shares, par value 0.1c per share of the company, which had expired on March 20, 2015. As of the date hereof, $1.4M in shares have been purchased by GeoPark under the Repurchase Program. The Repurchase Program will resume on April 14, 2015 and will expire at the close of business on May 20, 2015, but may be terminated prior to such date.

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