GeoPark Announces New Light Oil Field Discovery in Colombia

GeoPark Limited (“GeoPark”) (NYSE: GPRK), the Latin American oil and gas explorer, operator and consolidator with operations in Chile, Colombia, Brazil, Argentina and Peru¹, today announces a new oil field discovery following the drilling of exploration well Chachalaca 1, located on the Llanos 34 Block in Colombia. GeoPark operates and has a 45% working interest in the Llanos 34 Block.

GeoPark drilled and completed the Chachalaca 1 exploratory well to a total depth of 12,270 feet. A test conducted with an electrical submersible pump in the Mirador formation, at approximately 11,606 feet, resulted in a production rate of approximately 1,100 barrels of oil per day of 30.0 degree API, with approximately 6% water cut. Further production history is required to determine stabilized flow rates of the well and the extent of the field.

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

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