GeoPark Announces New Curucucu Oil Field Discovery in Colombia

BOGOTA, Colombia–(BUSINESS WIRE)–GeoPark Limited (“GeoPark” or the “Company”) (NYSE:GPRK), a leading
independent Latin American oil and gas explorer, operator and
consolidator with operations and growth platforms in Colombia, Chile,
Brazil, Argentina and Peru, today announced the discovery of the new
Curucucu oil field in the Llanos 34 block (GeoPark operated with a 45%
WI) in Colombia.

GeoPark drilled and completed the Curucucu 1 exploration well to a total
depth of 14,600 feet. A production test conducted with an electric
submersible pump in the Guadalupe formation resulted in a production
rate of approximately 1,700 barrels of oil per day, of 15.8 degrees API,
with 0.4% water cut, through a choke of 100/64 inches and wellhead
pressure of 70 pounds per square inch. Additional production history is
required to determine stabilized flow rates of the well. Surface
facilities are in place and the well is already in production.
Petrophysical log analysis during drilling also indicated the presence
of potentially productive hydrocarbons in the shallower Mirador
formation.

To minimize surface construction costs and share production facilities,
the Curucucu 1 exploration well was drilled from an existing well pad in
the recently discovered Jacamar oil field. The well was drilled with a
horizontal extension of more than 9,000 feet; representing a record for
the Llanos 34 block. Curucucu oil field is located on a new fault trend
to the east of Tigana/Jacana fault trend, adjacent to the Jacamar oil
field. It is the eleventh oil field discovered by GeoPark since
acquiring the prolific Llanos 34 block in 2012, and one of three new oil
fields added in 2017.

GeoPark plans to drill approximately seven wells in the Llanos 34 block
during 3Q2017 with a focus on further delineating the southern Jacana
and northern Tigana oil fields.

James F. Park, CEO of GeoPark, said: “Another geological and operational
win for our team – with our thirteenth new oil field discovery in
Colombia and successfully drilling a highly technical well with an
extended reach. GeoPark’s long term investment in our people, oil and
gas capabilities, and regional platform continues to pay off and propel
us into the leading position to take advantage of the exciting and
abundant opportunities in Latin America today.”

GeoPark can be visited online at www.geo-park.com

NOTICE

Additional information about GeoPark can be found in the “Investor
Support” section on the website at www.geo-park.com.

Rounding amounts and percentages: Certain amounts and percentages
included in this press release have been rounded for ease of
presentation. Percentage figures included in this press release have not
in all cases been calculated on the basis of such rounded figures, but
on the basis of such amounts prior to rounding. For this reason, certain
percentage amounts in this press release may vary from those obtained by
performing the same calculations using the figures in the financial
statements. In addition, certain other amounts that appear in this press
release may not sum due to rounding.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This press release contains statements that constitute forward-looking
statements. Many of the forward looking statements contained in this
press release can be identified by the use of forward-looking words such
as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’
‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among
others.

Forward-looking statements that appear in a number of places in this
press release include, but are not limited to, statements regarding the
intent, belief or current expectations, regarding various matters,
including the acquisition, estimated capital expenditures and currently
estimated gross unrisked resources relating to the acquisition.
Forward-looking statements are based on management’s beliefs and
assumptions, and on information currently available to the management.
Such statements are subject to risks and uncertainties, and actual
results may differ materially from those expressed or implied in the
forward-looking statements due to various factors.

Forward-looking statements speak only as of the date they are made, and
the Company does not undertake any obligation to update them in light of
new information or future developments or to release publicly any
revisions to these statements in order to reflect later events or
circumstances, or to reflect the occurrence of unanticipated events. For
a discussion of the risks facing the Company which could affect whether
these forward-looking statements are realized, see filings with the U.S.
Securities and Exchange Commission.

The reserve estimates provided in this release are estimates only, and
there is no guarantee that the estimated reserves will be recovered.
Actual reserves may eventually prove to be greater than, or less than,
the estimates provided herein. Statements relating to reserves are by
their nature forward-looking statements.

Readers are cautioned that the exploration resources disclosed in this
press release are not necessarily indicative of long term performance or
of ultimate recovery. Unrisked prospective resources are not risked for
change of development or chance of discovery. If a discovery is made,
there is no certainty that it will be developed or, if it is developed,
there is no certainty as to the timing of such development. There is no
certainty that any portion of the Prospective Resources will be
discovered. If discovered, there is no certainty that it will be
commercially viable to produce any portion of the resources. Prospective
Resource volumes are presented as unrisked.

Contacts

GeoPark Limited
INVESTORS:
Santiago, Chile
Stacy
Steimel, +562 2242 9600
Shareholder Value Director
[email protected]
or
Buenos
Aires, Argentina
Dolores Santamarina, +5411 4312 9400
Investor
Manager
[email protected]
or
MEDIA:
New
York, USA
Sard Verbinnen & Co
Jared Levy, +1 212-687-8080
[email protected]
or
Kelsey
Markovich, +1 212-687-8080
[email protected]