GeoPark Reports Results for the Fourth Quarter and Full Year Ended December 31, 2014 March 23, 2015 GeoPark Limited (“GeoPark”) (NYSE: “GPRK”), the Latin American oil and gas explorer, operator and consolidator with operations in Colombia, Chile, Brazil, Argentina, and Peru¹ today reports its quarterly and audited annual results for 2014. All figures are expressed in US dollars and growth comparisons refer to the same period of the prior year, except when specified. FULL YEAR 2014 HIGHLIGHTS Operational (*): Oil and gas production up 20% to 20,557 boepd Certified oil and gas P1 reserves up 116% to 62.9 mmboe / 2P reserves up 74% to 122.3 mmboe (after production of 7.5 mmboe in 2014) Certified 2P NPV10 up 32% to $1.7 billion 2P reserve replacement index increased to 795% and 2P reserve life index increased to 16.3 years 51 wells drilled with a success rate of over 75% as part of $238 million 2014 capital expenditure program Tigana oil field discovery (certified 3P gross reserves of 69 mmbo) in Colombia Llanos 34 Block Financial: Net Revenues up 27% to $428.7 million Adjusted EBITDA up 32% to $220.1 million Cash position of $127.7 million at year-end 2014 Net profit of $15.9 million, impacted by pre-tax non-cash expenses including (i) impairment charges for $9.4 million, (ii) write-offs of exploratory wells for $30.4 million and (iii) exchange differences for $23.1 million Long term debt maturity profile with over 80% of indebtedness due in 2020 Total Gross Debt to Adjusted EBITDA is 1.7x, and represents 22% of consolidated 2P NPV10 (*) Strategic / New Business: IPO on NYSE in February 2014, raising approximately $100 million Entry to Peru, GeoPark’s fifth country platform, through the acquisition of the Morona Block in partnership with Petroperu (GeoPark will operate with a 75% WI), and which includes a discovered oil field (2P and 3P certified gross reserves of 40 and 83 mmbo respectively) and high potential exploration resources (350 mmboe – 540 mmboe) Expansion of Colombian asset portfolio with addition of the CPO-4 Block (GeoPark will operate with a 50% WI) in partnership with SK Group, and the VIM-3 Block (GeoPark will operate with a 100% WI) Re-balancing of Argentinean asset portfolio with addition of the Sierra del Nevado and Puelen Blocks (non-operated with an 18% WI) in partnership with Pluspetrol in the Neuquen basin, and relinquishment of the non-productive Cerro Doña Juana and Loma Cortaderal Blocks ¹ Transaction executed with Petroperu on October 1, 2014 with final closing subject to Peru Government approval expected for 2H2015 (*) Refers to PRMS reserves certified by D&M and including Peru → Read the full press release. SHARE