Geopark Limited Award of licenses in Brazil (2399U)
November 29 2013 - 1:00AM
UK Regulatory
TIDMGPK
RNS Number : 2399U
Geopark Limited
29 November 2013
Embargoed for release at 7:00 29 November 2013
am
GEOPARK LIMITED
SUCCESSFUL AWARD OF TWO NEW HYDROCARBON BLOCKS IN
BRAZIL BID ROUND 12
GeoPark Limited ("GeoPark"), the Latin American oil and gas
explorer, operator and consolidator with operations and production
in Chile, Colombia, Brazil and Argentina (AIM: GPK), is pleased to
announce that it has been awarded two new licenses in the Brazilian
Round 12 held yesterday. The awarded blocks were:
-- PN-T-597 Block in the Paranaiba Basin in the State of Maranhao
-- SEAL-T-268 Block in the Sergipe Alagoas Basin in the State of Alagoas
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 two blocks, GeoPark has committed to
invest a minimum of US$4.0 million (including bonus and work
program commitment) during the first exploratory period. The new
blocks cover an area of approximately 196,500 acres.
In May 2013, GeoPark announced its agreement to acquire Rio das
Contas from Panoro Energy ASA, which holds a 10% working interest
in the shallow offshore Manati Field. In September 2013, GeoPark
announced the signing of 7 hydrocarbon blocks in the Reconcavo and
Potiguar Basins following its award from the ANP bidding Round
11.
Commenting, James F. Park, CEO of GeoPark, said: "These new
blocks allow us to incorporate two new proven onshore hydrocarbon
basins into our portfolio and represent one more step in building a
balanced portfolio of oil and gas assets in Brazil, with
development, production and exploration opportunities."
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 Limited
Pablo Ducci (Chile) +56 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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