ma
Eos el
GEOPARK
Santiago, 02 de octubre de 2014
Geopark Limited
Inscrito en el Registro de Valores Extranjeros bajo N* 045
Señor
Carlos Pavez Tolosa
Superintendente de Valores y Seguros
Av. Libertador Bernardo O’Higgins N* 1449, piso 1
PRESENTE
REF.: Adjunta información relevante que se
publicó en el U.S. Securities and
Exchange Commission (SEC) el día de
hoy.
Señor Superintendente:
En virtud de lo establecido en la Norma de Carácter General
N*352, por medio de la presente adjunto información considerada como relevante para
la empresa, que ha sido entregada el día de hoy en el U.S. Securities and Exchange
Commission (“SEC”), en donde mediante un comunicado de prensa se informa la
suscripción de un acuerdo con Petróleos del Perú S.A., a través del cual GeoPark
adquiere una participación del 75% en el Bloque Morona, localizado en el norte del
Perú. GeoPark será la operadora de dicho bloque.
La información adjunta consiste en un comunicado de prensa
de tres páginas escrito en idioma inglés.
Sin otro particular, saluda atentamente a Usted,
8 e ES >>
F Pedro Aylwin Chiorrini
pp. GEOPARK LIMITED
Nuestra Señora de los Ángeles 179 – Las Condes, Santiago – Chile
Tel. (+56 2) 2429600 – infoWgeo-park.com – www.geo-park.com
Pa
la all
GEOPARK
FOR IMMEDIATE DISTRIBUTION
GEOPARK ANNOUNCES ENTRY INTO PERU
WITH ACQUISITION OF THE MORONA BLOCK
Santiago, Chile — October 2, 2014 — GeoPark Limited (“GeoPark”) (NYSE: GPRK),
the Latin American oil and gas explorer, operator and consolidator with operations
and producing properties in Chile, Colombia, Brazil and Argentina, today announces
that it has executed a Joint Investment Agreement and Joint Operating Agreement
with Petróleos del Perú S.A. (“Petroperu”) to acquire an interest in and operate the
Morona Block located in northern Peru. GeoPark will assume a 75% working
interest (“WI”) of the Morona Block, with Petroperu retaining a 25% WI. The
transaction has been approved by the Board of Directors of both Petroperu and
GeoPark.
The Morona Block, also known as Lote 64, covers an area of 1.9 million acres on
the western side of the Marañón Basin, one of the most prolific hydrocarbon basins
in Peru. More than 1 billion barrels of oil have been produced from the surrounding
blocks in this basin. The Morona Block contains the Situche Central oil field, which
has been delineated by two wells (with short term tests of approximately 2,400 and
5,200 bopd of 35-36 API oil each) and by 3D seismic. The independent reservoir
engineering firm, Ryder Scott, has certified proven and probable (2P) reserves of
55 million barrels of oil (mmbo) and 3P reserves of 85 mmbo for the Situche
Central field for Petroperu. GeoPark used a 2P reserve estimate of 30-40 mmbo for
its internal evaluation of this project.
In addition to the Situche Central field, the Morona Block has a large exploration
potential with several high impact prospects and plays – with exploration resources
currently estimated to range from 200 to 600 mmbo. This important component of
the project will significantly increase GeoPark’s overall inventory of exploration
resources and complement GeoPark’s growing reserve and cash flow base already
established in Colombia, Chile and Brazil. The Morona Block includes geophysical
surveys of 2,783 km (2D seismic) and 465 sq km (3D seismic), and an operating
field camp and logistics infrastructure. The area has undergone oil and gas
exploration activities for the past 40 years, and there exist ongoing association
agreements and cooperation projects with the local communities.
The expected work program and development plan for the Situche Central oil field
is to be completed in three stages. The goal of the initial stage will be to put the
field into production through a long term test to help determine the most effective
overall development plan and to begin to generate cash flow. This initial stage
requires an investment of approximately $140 million to $160 million and is
expected to be completed within 18 to 24 months after closing. GeoPark has
committed to carry Petroperu during this initial phase and has the funds and cash
flow to support this program.
The subsequent work program stages, which will be initiated once production has
been established, are focused on carrying out the full development of the Situche
Central field, including transportation infrastructure, and new exploration drilling of
the Block. Petroperu will also have the right to increase its WI in the Block up to
50%, subject to GeoPark recovering its investments in the Block by certain agreed
factors.
James F. Park, Chief Executive Officer of GeoPark, said, “This is a potentially
transformational acquisition for GeoPark – and a great strategic fit for our existing
Latin American project portfolio. We are excited to be entering into Peru – a
culturally-rich country with immense hydrocarbon potential and a secure and
attractive economic and political environment. The Morona Block has all the
attributes we look for: a discovered oil field with the opportunity to establish
production and cash flow in the near term; an agreed work program that is
technically-sound and fits our budget; a big exploration upside within a proven
hydrocarbon system in a prolific oil region; and a great partner, Petroperu, who has
a strong presence throughout the region. The Marañón Basin is a priority target for
us in Latin America and we see this as a unique opportunity to enter into a
potentially high value-generating project and to approach it in a new way – both
below and above ground. In addition to our oil-finding and operating track-record,
one of GeoPark’s strengths is our commitment to building long term mutually-
beneficial relationships, based on transparency, dialogue and respect, with the
communities where we operate.”
The transaction is subject to customary conditions, which include the qualification
of GeoPark as an operator by PeruPetro, the Peruvian petroleum licensing agency,
certain license modifications and a presidential decree. The transaction is expected
to close by the first quarter of 2015.
CONTACTS GEOPARK:
Pablo Ducci – Director Capital Markets pduccigeo-park.com
Sofia Chellew – Investor Relations schellewOgeo-park.com
Santiago, Chile
T: +562 2242 9600 www.geo-park.com
NOTICE
Additional information about GeoPark can be found in the “Investor Support”
section on the Web site at www.geo-park.com
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 appear in a number of places in this press release and
include, but are not limited to, statements regarding the intent, belief or current
expectations, regarding various matters, including expected production growth,
capital expenditure and acquisition plans. 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 the risks facing the Company
which could affect whether these forward-looking are realized, see filings with the
U.S. Securities and Exchange Commission.
HAH
Link al archivo en CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=0ca30c057b7d50fd778b4dc1f2ea12c7VFdwQmVFNUVSWGROUkVWNFRVUk5lRTFuUFQwPQ==&secuencia=-1&t=1682366909
