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GeoPark
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OIL AND GAS RESERVES AND PRODUCTION

RESERVES

The following table shows GeoPark’s proved (1P), probable (2P), and possible (3P) reserves as of December 31, 2018, in accordance with Degolyer & MacNaughton’s independent appraisal report.

The reserves estimates were prepared in line with the industry standards recognized by the Society of Petroleum Engineers (SPE) in accordance with the Petroleum Resources Management System (PRMS). The PRMS reserves do not constitute SEC reserves.

The oil price assumptions used in the 2018 reserve report are an average of $70.4 per barrel over the next five years and $77.4 to $81.6 per barrel for the period 2024-2026.


Country Reserves
Category
December 2018
(MMboe)
%Oil December 2017
(MMboe)
% Change
Colombiaa


PDP
1P
2P
3P
34.7
79.5
111.2
145.6
99%
100%
100%
100%
21.6
66.1
88.2
101.7
61%
20%
26%
43%
Peru


PDP
1P
2P
3P
-
18.5
30.3
131.2
100%
100%
100%
100%
-
18.7
31.5
62.2
N/A
-1%
-4%
111%
Chile


PDP
1P
2P
3P
2.8
7.2
24.7
37.9
25%
48%
39%
40%
2.6
7.9
34.0
66.6
-43%
-11%
-9%
Argentina


PDP
1P
2P
3P
3.5
5.7
14.2
28.9
62%
63%
44%
47%
0.0
0.0
1.1
6.4
NA
NA
1191.%
352%
Brazil


PDP
1P
2P
3P
3.1
3.1
3.2
3.4
2%
2%
2%
2%
4.3
4.3
4.4
4.6
-28%
-28%
-27%
-26%
Total
(D&M Certified)

PDP
1P
2P
3P
44.2
113.9
183.7
347.0
85%
92%
85%
88%
28.5
97.0
159.2
241.6
55%
17%
15%
44%
a) GeoPark signed an agreement to divest the La Cuerva and Yamu blocks. The table above includes 1.1 mmboe, 2.3 mmboe, 5.3 mmboe and 7.9 mmboe of PDP, 1P, 2P and 3P reserves as of December 31, 2018, respectively in the La Cuerva and Yamu blocks.

Reserves

More info: here