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2012 GeoPark Results: another year of overall growth

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GeoPark Holdings Limited ("GeoPark") announced yesterdary it's results for the year ended 31 december 2012, registering it's seventh consecutive year of overall growth. Acording to the corporate action presented to the SVS, during last year the company continued to execute it's business plan and grow it's key performance measures of oil and gas production, revenues, EBITDA and net income.

James F. Park, CEO of GeoPark, commented: "Our 2012 results represent a significant performance step-up and reflect the growing strength of our underlying asset foundation andrecord of execution. In 2012, GeoPark demonstrated improvements in each of its three principalcapacities as an oil and gas explorer, operator and consolidator--with increases in production,reserves, and cash flows and new project growth in Colombia and Tierra del Fuego. Our team's ability to consistently find and produce oil and gas, our strengthening balance sheet and reliable cash flow generation, and our exciting new project opportunity portfolio provide substantial en-couragement for our expectations in 2013 and beyond. We are pleased that GeoPark is continuing to achieve the scale and scope and the balance which assure long term value creation inour business”.

Among the main highlights of last year, revenues of GeoPark increased 124% to US$250 million; full year Adjusted EBITDA increased 92% to US$121 million; net income increased 264% to US$18 million.  

Another important issues were the acquisition and consolidation of two colombian companies -Winchester Oil and Gas and Hupecol- for a combinated consideration of US$150 million and the discovery of Palos Quemados, the first gas discovery in 40 years in Tranquilo Block (Chile).  

Finally, operations commenced in Tierra del Fuego, Chile, on the Isla Norte, Flamenco and Campanario blocks.

Last february, the company obtained US$300 million bond issue. This funds will be used for new investments and refinancing.

Founded in 2002, GeoPark core business is to explore, develop and produce for oiland gas reserves in Chile, Colombia and Argentina. The Group ownsa solid and well-balanced portfolioof assets that includes 19 hydrocarbon blocks in which we have working interests and/or economic interests. 

The Company is quoted on the AIM London Stock Exchange. Also its shares are authorized for trading on the Santiago Off-Shore Stock Exchange, in US$ under the trading symbol "GPK".


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