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 the successful testing of
the Tigana Norte 9 appraisal well in the Tigana oil field in the Llanos
34 block (GeoPark operated, 45% WI) in Colombia.
GeoPark drilled and completed the Tigana Norte 9 well to a total depth
of 11,581 feet. A production test conducted with an electric submersible
pump in the Guadalupe formation resulted in a production rate of
approximately 1,150 bopd of 13.9 degrees API, with approximately 1%
water cut, through a choke of 80/64 inches and wellhead pressure of 120
pounds per square inch. Additional production history is required to
determine stabilized flow rates of the well. Surface facilities are in
place and the well is already in production.
The Tigana Norte 9 well was drilled outside the 3P reserve outline
defined in the 2017 DeGolyer and MacNaughton reserve certification and
did not encounter an oil-water contact. The well extends and broadens
the Tigana oil field towards the northeastern limits of the Llanos 34
block.
Reporting Date for 1Q2018 Results Release, Conference Call and Webcast
GeoPark will report its 1Q2018 financial results on Monday, May 7, 2018
after the market close.
In conjunction with 1Q2018 results press release, GeoPark’s management
will host a conference call on May 8, 2018 at 10:00 am (Eastern Daylight
Time) to discuss these 1Q2018 financial results. To listen to the call,
participants can access the webcast located in the Investor Support
section of the company’s website at www.geo-park.com.
Interested parties may participate in the conference call by dialing the
numbers provided below:
United States Participants: 866-547-1509
International
Participants: +1 920-663-6208
Passcode: 9397328
Please allow extra time prior to the call to visit the website and
download any streaming media software that might be required to listen
to the webcast.
An archive of the webcast replay will be made available in the Investor
Support section of the company’s website at www.geo-park.com
after the conclusion of the live call.
NOTICE
Additional information about GeoPark can be found in the “Investor
Support” section on the website at www.geo-park.com.
Rounding amounts and percentages: Certain amounts and percentages
included in this press release have been rounded for ease of
presentation. Percentage figures included in this press release have not
in all cases been calculated on the basis of such rounded figures, but
on the basis of such amounts prior to rounding. For this reason, certain
percentage amounts in this press release may vary from those obtained by
performing the same calculations using the figures in the financial
statements. In addition, certain other amounts that appear in this press
release may not sum due to rounding.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking
statements. Many of the forward-looking statements contained in this
press release can be identified by the use of forward-looking words such
as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’
‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among
others.
Forward-looking statements that appear in a number of places in this
press release include, but are not limited to, statements regarding the
intent, belief or current expectations, regarding various matters,
including preliminary production test results for the Tigana Norte well,
and expected growth for GeoPark and Latin America’s under-developed
hydrocarbon potential. Forward-looking statements are based on
management’s beliefs and assumptions, and on information currently
available to the management. Such statements are subject to risks and
uncertainties, and actual results may differ materially from those
expressed or implied in the forward-looking statements due to various
factors.
Forward-looking statements speak only as of the date they are made, and
the Company does not undertake any obligation to update them in light of
new information or future developments or to release publicly any
revisions to these statements in order to reflect later events or
circumstances, or to reflect the occurrence of unanticipated events. For
a discussion of the risks facing the Company which could affect whether
these forward-looking statements are realized, see filings with the U.S.
Securities and Exchange Commission.
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