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July 24, 2014
08:25 EDTGPRKGeoPark awarded new hydrocarbon block in Colombia bidding round
GeoPark was awarded a new exploratory license during the 2014 Colombia Bidding Round, carried out by the Agencia Nacional de Hidrocarburos. GeoPark was awarded the VIM-3 Block in the Lower Magdalena Basin, covering an area of approximately 225,000 acres. GeoPark's winning bid consisted of committing to a Royalty X Factor of 3% and a minimum investment program of carrying out 200 sq km of 2D seismic and drilling one exploration well, with a total estimated investment of $22.2M during the initial three year exploratory period. GeoPark will operate and have a 100% working interest in the block. The final signature of the contracts is currently scheduled for Q3.
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July 21, 2015
08:05 EDTGPRKGeoPark reports Q2 oil and gas production 19,575 boepd
Oil and gas production reached 19,575 boepd in 2Q2015 led by continuing production growth in Colombia, stable production in Brazil and declining production in Chile impacted by no new wells being drilled during 1H2015. GeoPark's drilling campaign restarted in June 2015 with two rigs drilling two new exploration prospects in Colombia. Oil production in Llanos 34 Block achieved record production of 27,000 bopd gross by the end of 2Q2015. Construction of facilities underway for Ache Gas Project in Fell Block in Chile with an expected start-up in 4Q2015. Surface compression plant completed in the Manati Field in Brazil with expected start-up in 3Q2015. Continuing cost reduction efforts underway. Cash costs reduction of 33% realized during 1Q2015. As announced in January 2015, GeoPark is carrying out a fully-funded $60-70 million work and investment program for 2015 based on an average oil price assumption of $45-50 per barrel. This program is subject to adjustment with changes in oil prices and opportunities developed through the lower cost environment. During the first half of the year with no drilling activity, GeoPark has maintained its production levels. During the second half of the year, drilling operations have been resumed and investment activities increased.

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