GeoPark Announces First Quarter 2019 Operational Update

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced its operational update for the three-month period ended March 31, 2019 (“1Q2019”).

All figures are expressed in US Dollars and growth comparisons refer to the same period of the prior year, except when otherwise specified.

First Quarter 2019 Highlights

Record Oil and Gas Production

• Consolidated oil and gas production up 23% to 39,557 boepd
• Gross operated production in Colombia, Chile and Argentina surpassed 75,000 boepd
• Oil production increased by 26% to 34,358 bopd (up 5% compared to 4Q2018)
• Gas production increased by 7% to 34.4 mmcfpd

Drill Bit Success

• In Colombia: five new wells were tested and put on production in the Llanos 34 block (GeoPark operated, 45% WI), adding 5,600 bopd gross
• In Argentina, the Challaco Bajo 1001 well, targeting a new tight gas play in the El Porvenir block (GeoPark operated, 100% WI) was successfully tested and put on production

New Infrastructure in Colombia

• Flowline construction to connect the Llanos 34 block to regional pipeline on budget and completed

New Country Entry: Ecuador

• Acquired low-cost, low-risk exploration acreage with the Espejo and Perico blocks (GeoPark, 50% WI), in the prolific Oriente basin in Ecuador

Adding Value for Shareholders

• Invested $12 million in the share buyback program initiated in December 2018, buying 810,500 shares while executing self-funded growth work programs

Catalysts: 2Q2019

• Testing three wells and drilling six new wells, including development, appraisal and exploration wells across GeoPark’s pan-regional portfolio in Colombia, Argentina, Brazil and Chile.

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