GeoPark Reports Results for the Fourth Quarter and Full Year Ended December 31 2016

RECORD OIL AND GAS PRODUCTION AND RESERVES /
$28MM COLOMBIAN INVESTMENT PROGRAM GENERATES $351MM INCREASE IN VALUE

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, Chile, Brazil, Argentina, and Peru reports its consolidated financial results for the three- month period ended December 31, 2016 (“Fourth Quarter” or “4Q2016”), and its audited annual results for 2016.

A conference call to discuss 4Q2016 Financial Results will be held on March 8, 2017 at 10 am Eastern Standard Time.

All figures are expressed in US Dollars and growth comparisons refer to the same period of the prior year, except when specified. Definitions and terms used herein, are provided in the Glossary at the end of this document. This release does not contain all of the Company’s financial information. As a result, investors should read this release in conjunction with GeoPark’s consolidated financial statements and the notes to those statements for the years ended December 31, 2016 and 2015 available on the Company’s website.

FOURTH QUARTER AND FULL YEAR 2016 HIGHLIGHTS

More Oil and Gas

• Record Oil and Gas Production:
  o Consolidated production up 2% to 23,593 boepd o Colombia production up 13% to 17,535 bopd
  o Current production of 25,900 boepd
• Record Oil and Gas Reserves:
  o Proven and Probable (2P) PRMS reserves up 14% to 142.8 mmboe o Colombia 2P PRMS reserves up 45% to 67.4 mmboe

More Efficiencies / Less Cost

• Finding and Development Costs:
  o Consolidated 2P of $1.7/boe
  o Colombia 2P of $1.0/bbl
• Operating Costs:
  o Consolidated operating costs down 19% to $8.1 per boe / full year down 31%<
  o Colombia down 32% to $6.1 per bbl / full year down 39%

More Cash Generation

• Adjusted EBITDA up 154% to $27.0 million / full year up 6% to $78.3 million
• Operating Netback up 83% to $39.5 million / full year up 3% to $122.1 million
• Cash Flow from Operating Activities up to $28.0 million / full year up 220% to $82.9 million
• Net loss reduced to $26.0 million / full year net loss of $60.6 million (impacted by $25.7 million in non- cash write-offs and impairments)
• Over $160 million in cash and available facilities ($73.6 million cash)