SANTIAGO, Chile, May 15, 2013 /PRNewswire/ -- GeoPark Holdings
Limited ("GeoPark"), the Latin American oil and gas explorer,
operator and consolidator with operations and producing properties
in Chile, Colombia and Argentina (AIM: GPK), is pleased to announce
that it has been awarded seven new licenses in the Brazilian Round
11 held yesterday. The awarded blocks include:
In the Reconcavo Basin in the State of Bahia:
- Block REC-T 94
- Block REC-T 85
In the Potiguar Basin in the State of Rio Grande do Norte:
- Block POT-T 664
- Block POT-T 665
- Block POT-T 619
- Block POT-T 620
- Block POT-T 663
The licensing round was organized by the Brazilian National
Petroleum, National Gas and Biofuels Agency ("ANP"), and all
proceedings and bids have been made public. The winning bids are
subject to confirmation of qualification requirements.
For its winning bids on the seven blocks, GeoPark has committed
to invest a minimum of US$15.3
million (including bonus and work program commitment) during
the first 3 years of exploratory period. The new blocks cover an
area of approximately 54,850 acres.
Commenting, James F. Park, CEO of
GeoPark, said: "We congratulate our geoscience and engineering
teams for their efforts and success in winning these blocks. Our
entry into Brazil - with an
attractive platform of risk-balanced assets - represents an
important step forward in GeoPark's consistent growth strategy
throughout Latin America. The
award of these blocks provides an attractive exploration upside to
GeoPark's stable production acquisition made by GeoPark in
Brazil today."
In accordance with the AIM Rules, the information in this
announcement has been reviewed by Dimas
Coelho, a PhD geophysicist with 32 years of oil and gas
experience and Brazil Country Director 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
|
|
|
|
| |