GeoPark targets new Colombia acreage

Colombia

BOGOTA, October 23, 2017 – GeoPark has struck a JV deal with Spain’s CEPSA that will allow it to acquire acreage neighbouring its Llanos 34 block, the independent announced on Monday.

Under the agreement, GeoPark will be allowed to drill an exploration well, scheduled to be spudded in H1 2018, in Tiple Block Acreage, with an option to purchase an 85% operated interest in the exploration area in the event of a discovery.

“This is a meaningful addition to our large oil and gas acreage inventory because of its geographic and geologic proximity to our rapidly-growing and highly-successful Llanos 34 Block,” said GeoPark CEO James F. Park in a statement. “It gives us more valuable land and prospects to further expand the high-impact structural and stratigraphic oil play we are pioneering in the Llanos Basin.”

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