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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 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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