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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Geopark | LSE:GPK | London | Ordinary Share | BMG383271050 | COM SHS USD0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 400.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGPK
RNS Number : 4340G
Geopark Holdings Limited
06 June 2013
Embargoed for release at 7:00 6 June 2013 am
GEOPARK HOLDINGS LIMITED
NEW EXPLORATION DISCOVERY IN COLOMBIA
GeoPark Holdings Limited ("GeoPark"), the Latin American oil and gas explorer, operator and consolidator with operations and producing properties in Chile, Colombia, Brazil and Argentina (AIM: GPK), is pleased to announce the successful drilling, testing and putting into production of the new Potrillo 1 exploration well in the Yamu Block in the central Llanos basin in Colombia. GeoPark operates the Yamú Block.
GeoPark drilled and completed the Potrillo 1 well to a total depth of 3,560 metres. A production test conducted with a jet pump in the Carbonera C7 formation, at approximately 3,014 metres, resulted in a production rate of approximately 650 barrels of oil per day ("bopd") of 33.0 API oil with an approximately 50% water cut. Further production history will be required to determine stabilized flow rates and the extent of the reservoir. Surface facilities are already in place and the produced crude oil is now being marketed and sold.
Commenting, James F. Park, CEO of GeoPark, said: "Congratulations to our team who are continuing to have exploration success on our attractive acreage in Colombia and immediately turning it into new production and cash flow. Since acquiring our position in Colombia a little more than one year ago, GeoPark has made three new oil field discoveries (operated) and more than doubled our net oil production."
In accordance with the AIM Rules, the information in this announcement has been reviewed by Salvador Minniti, a geologist with 32 years of oil and gas experience and Director of Exploration of GeoPark.
GeoPark can be visited online at www.geo-park.com
For further information please contact:
GeoPark Holdings Limited Juan Pablo Spoerer (Chile) Pablo Ducci (Chile) +54 2 2242 9600 Oriel Securities - Nominated Adviser and Joint Broker Michael Shaw (London) +44 (0)20 7710 7600 Tunga Chigovanyika (London) Macquarie Capital (Europe) Limited - Joint Broker Steve Baldwin (London) +44 (0)20 3037 2000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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