SANTIAGO, Chile, June 21, 2013 /PRNewswire/ -- 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 testing of gas production from a previously untested
formation in the Yagan Norte 4 well on the Fell Block in
Chile. GeoPark operates and has a 100% working interest in
the Fell Block.
(Logo:
http://photos.prnewswire.com/prnh/20130603/MX24008LOGO-b)
GeoPark carried out a production test in the Springhill
formation, behind casing, in the Yagan Norte 4 well, at 3,005
metres for a period of 20 hours, which flowed at a rate of
approximately 3.3 million standard cubic feet per day of gas
through a choke of 12 millimetres, with a well head pressure of
1,208 pounds per square inch. Further production history will
be required to determine a stabilized flow rate for the well. The
Yagan Norte 4 well was originally drilled to a total depth of 3,105
metres and tested and produced oil from the Tobifera formation in
an open hole section.
GeoPark has interests in 27 exploration, development and
production blocks in Colombia,
Chile, Argentina and Brazil, subject to local regulatory approval.
During 2013, GeoPark plans to carry out a total 35-45 well
drilling program with an expected work program investment of
US$200-230 million.
Commenting, James F. Park, CEO of
GeoPark, said: "This new test result in the Yagan Norte field
continues to confirm the gas potential in southern Chile and the opportunity for a sustainable
gas business to complement our principal oil production activities
in Chile."
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
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Juan Pablo Spoerer (Chile)
Pablo Ducci (Chile)
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+56 2 2242
9600
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Oriel Securities – Nominated Adviser and Joint
Broker
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Michael Shaw (London)
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+44 (0)20 7710
7600
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Tunga Chigovanyika (London)
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Macquarie Capital (Europe) Limited – Joint
Broker
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Steve Baldwin (London)
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+44 (0)20 3037
2000
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