Share Repurchase Program and Operational UpdateDecember 20, 2018Bogotá, Colombia – 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 and Chile, today announced its Board of Directors has approved a program to repurchase up to 10% of its shares outstanding or approximately 6,063,000 shares.Share Repurchase ProgramGeoPark believes its shares to be significantly undervalued considering its oil and gas production, reserves, cash flow generation, low cost operations, balance sheet, pan Latin American asset portfolio, new project inventory, 2019 self-funded flexible work program and long-term consistent performance track-record. GeoPark’s consolidated 2017 certified (DeGolyer & MacNaughton) 2P net debt-adjusted, after-tax net present value (2P net debt-adjusted NPV10), prior to its growth in 2018, was approximately $29/share. Looking at GeoPark’s Colombia assets alone, its 2017 certified 2P net debt-adjusted NPV10, prior to its growth in 2018, wasapproximately $16/shareThe repurchase program will begin on December 21, 2018 and will expire on December 31, 2019The share repurchases may be made from time to time through open market transactions, block trades, privately negotiated transactions or otherwise and are subject to market and business conditions, levels of available liquidity, cash requirements for other purposes, regulatory, and other relevant factors→ Read the full press release. SHARE
