GeoPark Announces First Quarter 2015 Operational Update

GeoPark Limited (“GeoPark”) (NYSE: GPRK), the Latin American oil and gas —, operator and consolidator with operations and producing properties in Colombia, Chile, Brazil, Argentina and Peru¹, announces today its 1Q2015 operational update.

GeoPark’s oil and gas production in 1Q2015 averaged 19,586 boepd, which represents an 18% increase from 1Q2014, 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 $60-70 million work and investment program (reduced by 70-75% from a $238 million investment program in 2014), 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.

¹Transaction executed with Petroperu on October 1, 2014 with final closing subject to Peru government approval.

→ Read the full press release.