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BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

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Page 1: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

BTG Pactual & Celfin Southern Cone / Andean Conference

June 2013

Delivery and Growth

Page 2: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

Disclaimer

The material that follows comprises information about GeoPark Holdings Limited

(“GeoPark”) and its subsidiaries, as of the date of the presentation. It has been

prepared solely for informational purposes and is not to be construed as a

solicitation or an offer to buy or sell any securities and should not be treated as

giving legal, tax, investment or other advice to potential investors. The information

presented or contained herein is in summary form and does not purport to be

complete.

No representations or warranties, express or implied, are made as to, and no

reliance should be placed on, the accuracy, fairness, or completeness of this

information. Neither GeoPark nor any of its affiliates, advisers or representatives

accepts any responsibility whatsoever for any loss or damage arising from any

information presented or contained in this presentation. The information presented

or contained in this presentation is current as of the date hereof and is subject to

change without notice, and its accuracy is not guaranteed. Neither GeoPark nor

any of its affiliates, advisers or representatives makes any undertaking to update

any such information subsequent to the date hereof.

This confidential presentation contains forward-looking statements, which are

based upon GeoPark and/or its management’s current expectations and

projections about future events. When used in this presentation, the words

“believe,” “anticipate,” “intend,” “estimate,” “expect,” “should,” “may” and similar

expressions, or the negative of such words and expressions, are intended to

identify forward-looking statements, although not all forward-looking statements

contain such words or expressions. Additionally, all information, other than

historical facts included in this presentation, regarding strategy, future operations,

drilling plans, estimated reserves, future production, estimated capital

expenditures, projected costs, the potential of drilling prospects and other plans

and objectives of management is forward-looking information. Such statements

and information are subject to a number of risks, uncertainties and assumptions.

Forward-looking statements are not guarantees of future performance and actual

results may differ materially from those anticipated due to many factors, including

oil and natural gas prices, industry conditions, drilling results, uncertainties in

estimating reserves, availability and cost of drilling rigs, production equipment,

supplies, personnel and oil field services, availability of capital resources and other

factors. As for forward-looking statements that relate to future financial results and

other projections, actual results may be different due to the inherent uncertainty of

estimates, forecasts and projections. Because of these uncertainties, potential

investors should not rely on these forward-looking statements. Neither GeoPark

nor any of its affiliates, directors, officers, agents or employees, nor any of the

shareholders or initial purchasers shall be liable, in any event, before any third

party (including investors) for any investment or business decision made or action

taken in reliance on the information and statements contained in this presentation

or for any consequential, special or similar damages.

Certain data in this presentation was obtained from various external sources, and

neither GeoPark nor its affiliates, advisers or representatives has verified such

data with independent sources. Accordingly, neither GeoPark nor any of its

affiliates, advisers or representatives makes any representations as to the

accuracy or completeness of that data, and such data involves risks and

uncertainties and is subject to change based on various factors.

This presentation contains a discussion of Adjusted EBITDA, which is not an IFRS

measure. We define Adjusted EBITDA as profit for the period before interest, tax,

depreciation, amortization and write-offs, impairments and share-based payments.

Adjusted EBITDA is included in this presentation because it is a measure of our

operating performance and our management believes that Adjusted EBITDA is

useful to investors because it is frequently used by securities analysts, investors

and other interested parties in their evaluation of the operating performance of

companies in industries similar to ours. Adjusted EBITDA should not be

considered a substitute for financial information presented or prepared in

accordance with IFRS. Adjusted EBITDA, as determined and measured by us,

should also not be compared to similarly titled measures reported by other

companies.

2

Page 3: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

• Who We Are

• Team and Capabilities

• Asset Base With Proven Value and Upside

• Track-Record Of Performance and Growth

• Capital Strength

• New Project Development

• 2013 Outlook and Investment Case

Agenda

Page 4: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

COLOMBIA

ARGENTINA

CHILE

BRAZIL

Unconventional Resource

Production

Exploration

Development

GeoPark Portfolio and Asset Type:

Highlights Scale, Balance and Growth

4

As of

1Q2013

New Brazil

Acquisitions Proforma

Production

(BOEPD) 13,426 4,140 17,566

2P Reserves

(MMboe) 56.9 10.7 67.6

EBITDA

($MM/QTR) 49.7 9.3(1) 59

CAPEX

($MM/YR) 200-230 140

Portfolio

(N° Blocks) 19 8 27

(1) 2012 EBITDA reported of US$37.2 which divided in quarters results in US&9.3 million

1841

63

132

2009 2010 2011 2012

ADJUSTED EBITDA US$ MM

Page 5: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

5

Business Model

Leadin

g E&P

Co

mp

any

EXPLORER OPERATOR CONSOLIDATOR

CULTURE

Core Strengths

RISK & ECONOMIC MANAGEMENT

Page 6: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 YTD

Ave

rage

Dai

ly P

rod

uct

ion

(b

oe

/d)

Gas Oil

2005 2006

2007

2008

2009

2010

2011

2012

Proforma

2011: LGI acquired 20% of GeoPark´s

Chilean business (US$148 million)

2011: Acquired blocks in Tierra del

Fuego (Isla Norte, Flamenco and

Campanario)

2012: Acquired Winchester, Cuerva and Luna in

Colombia (US$105 million)

2013: 144A/RegS Bond

Issuance US$ 300 million

2010: Enter into a strategic growth

partnership with LGI

2008 / 2009: Acquired Chilean blocks

(Otway and Tranquilo) and become operator

for consortia of Pluspetrol, Wintershall,

Methanex and IFC

2007: Signed strategic alliance with

Methanex to supply all the gas produce in

the Fell Block

Long Term Fundamentals Stable Growth + Upside

2002: Founded by James F. Park and Gerald O’Shaughnessy, currently CEO and Chairman respectively

2012: LGI acquired 20% of GeoPark’s Colombian

businesses

2006: IFC joins as shareholder

and lender

2006: Assumed 100% working

interest in Fell

2006: IPO in London

6

2013: Manati

acquisition and 7

new blocks awarded

in Brazil

Page 7: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

LGI Partnership

• Strategic Partnership to build a diversified risk-balanced

portfolio of upstream projects across Latin America

Experienced Team and Partner Support

MANAGEMENT AND TEAM

• Technical and operations focused company

• Track record of finding oil and gas and converting unexploited

assets into successful projects

• Core G&G team from Chevron San Jorge with more than 700 +

million barrels oil discovered in the region and 25+ years working

together

• Licensed operator in 4 countries with track-record of safe and

clean operations

• All employees are shareholders / very low staff turnover

7

IFC

• Long Term Investor in the Company

• Member of the World Bank Group

• Strong support in environmental, compliance and safety

standards

PERFORMANCE-DRIVEN CULTURE

An in-house unique culture which values and protects our

shareholders, employees, environment and communities and

supports our long-term business plan.

S.P.E.E.D.

Capabilities

LONG TERM STRATEGIC PARTNERSHIPS

Page 8: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

8

Steady Growth Foundation Chile Platform

A R G E N T I N A

C H I L E Tranquilo

Otway Flamenco

Campanario

Isla Norte

Fell

Blocks:

Production 1Q 2013 (BOEPD):

Reserves (MMBOE):

Resource Potential (MMBOE):

6

8,438

P1+P2: 45

65% Oil

80 - 200

2013 Work Program (US$135 million)

Fell Block:

• 11 new wells

• 10 WO

Tierra del Fuego Blocks:

• 10 new wells

• 14 WO

• 1,248 Km2 of 3D seismic

Page 9: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

9

High Opportunity Region Colombian Platform

RIOHACHA

MAICAO

VALLEDUPAR

SANTA MARTA

BARRANQUILLA

CARTAGENA

MONTERIA

DOSQUEBRADAS

ARMENIA

TULUA

PALMIRACALI

NEIVA

BUENAVENTURA

POPAYAN

PITALITO

FLORENCIA

SAN JUAN DE PASTO

TUMACO

IPIALES

SAN J. DEL GUAVIARE

VAUPES

CINCELEJO

CUCUTA

ARAUCA

BUCARAMANGABARRANCABERMEJA

AMALFI

DUITAMA

SOGAMOSO

YOPAL

TUNJA

BOGOTA

VILLAVICENCIOPUERTO LOPEZ

ACACIAS

MANIZALES

MEDELLIN

IBAGUE

INIRIDA

LA DORADA

200 km

CERRITO

YAMU

LLANOS 17

JAGÜEYES

LA CUERVA

LLA 62

ARRENDAJO

LLANOS 32

LLANOS 34

ABANICO

VENEZUELA

BRAZIL

PACIFIC

OCEAN

CARIBBEAN

SEA

PERU

ECUADOR

PANAMA

Blocks:

Production 1Q 2013 (BOEPD):

Reserves (MMBOE):

Net Resource Potential (MMBOE):

10

4,927

P1+P2: 12

100% Oil

16

2013 Work Program (US$70-80 million)

Llanos 34 Block:

• 8 new wells

• 249 Km2 of 3D seismic

Other Operated Blocks:

• 8 new wells

• 2 WO

Non-operated Blocks:

• 3 new wells

• 1 WO

Page 10: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

10

New Growth Region Brazil Platform

Blocks:

Production 1Q 2013 (BOEPD):

Reserves (MMBOE):

8

4,140

P1+P2: 11

2013 Work Program

• 7 new exploration Blocks: US$ 15.3 million

(3 years)

• Manati Block: Fully developed

Page 11: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

Oil 31%

Gas 69%

Gas 21%

Oil 79%

Operational Track-Record

31.3 33.4 32.6 28.4

10.9 16.2 16.9 28.5

42.2 49.6 49.5

56.9

2009 2010 2011 2012

Gas Oil

P1+P2 RESERVES GROWTH (MMBOE)

2012 2006

5.1 5.0 5.1 3.8 2.8

1.2 1.9 2.5 7.5 10.7 6.3 6.9 7.6

11.3 13.5

2009 2010 2011 2012 CurrentGas Oil

¹Ratio calculated with 2P reserves 2Ratio calculated using reserves as of Dec12

R/P1

Years 18.3 19.5 17.9 13.8 11.52

PRODUCTION GROWTH (MBOED)

11

Execution and Delivery

DRILLING SUCCESS RATE

# Drilled Wells (2007-1Q2013) 120

# Productive Wells 81

# Non-Productive Wells 39

Success Rate 68%

Page 12: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

7.8

16.3

22.9

30.8

41.1

2009 2010 2011 2012 1Q 2013

Netbacks (US$/boe)

1841

63

132

2009 2010 2011 2012

45 80

112

250

2009 2010 2011 2012

1 Adjusted EBITDA calculated as profit for the period before interest, tax, depreciation, amortization and certain non-cash items such as write-offs, impairments and share-based payments

2 Adjusted EBITDA for 2012 amounted to US$ 121million as per GeoPark financial statements. However the actual Adjusted EBITDA generated by the Company in such period amounted to US$ 132 million. The

difference is associated to the Adjusted EBITDA generated by the two acquired Colombian companies between January 1 to the date of each acquisition, and was perceived by GeoPark through working capital

adjustments.

2

Financial Track-Record

REVENUES US$ MM ADJUSTED EBITDA US$ MM1

12

Execution and Delivery

CONSOLIDATED NETBACK EVOLUTION COLOMBIAN NETBACK EVOLUTION CHILEAN NETBACK EVOLUTION

10.7

19.9

25.7

33.0 38.4

2009 2010 2011 2012 1Q 2013

Netbacks (US$/boe)

20.2

33.6

48.1

3Q 2012 2012 1Q 2013

Netbacks (US$/boe)

Page 13: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

EXPLORER

• 2P Reserves up 15% to 56.9 Mmboe (Annual)

• 3P Reserves up 7% to 114.4 Mmboe (Annual)

• Production up 39% to 13,426 boepd

OPERATOR

• Drilled: 15 wells

• CAPEX: US$ 74.8 million

• EBITDA up 45% to US$49.7 million

• Netbacks up 6% to US$41.1/boe

CONSOLIDATOR

• 1 new acquisition in Brazil

• 7 new blocks in Round 11, Brazil

First Quarter 2013 Results

US$ 49.7 million US$ 89.8 million

1 Adjusted EBITDA calculated as profit for the period before interest, tax, depreciation, amortization and certain non-cash items such as write-offs, impairments and share-based payments

2P-3P Without considering Brazilian acquisitions

Revenues by

Country

Adj. EBITDA1

by Country

(US$ million) 1Q2013 1Q2012 % Chg.

Revenues 89.8 51.3 74.9%

Production Costs (38.3) (19.4) 97.9%

Operating Profit 26.5 24.9 6.5%

Financial Expenses (12.9) (4.2) 206.2%

Gain on Acquisition - 8.4

Income Tax (4.4) (5.1) -13.4%

Profit for the Year 9.4 24.3 -61.1%

Adjusted EBITDA 49.7 34.3 45.0%

Total Assets 808 572 41.4%

Fixed Asset 511 376 35.9%

Total Liabilities 485 275 75.9%

Minority Interest 76 51 48.1%

Total Equity 323 296 41.4%

Gross Financial Debt 299 168 77.9%

Cash and Cash Equivalents 176 79 122.8%

CAPEX 74.8 47.5 57.4%

13

Chile, 51%

Colombia, 49%

Argentina 0.5%

Chile, 57%

Colombia, 43%

Page 14: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

Fully-Funded Growth Program Capital Strength

3.4x 4.1x

2.6x

1.6x 1.8x

2009 2010 2011 2012 2013E

1 Adjusted EBITDA calculated as profit for the period before interest, tax, depreciation, amortization and certain non-cash items such as write-offs, impairments and share-based payments.

2 2013E ratios considered new bond issuance and 2013E EBITDA of $170 million

3 Estimated by D&M in the December 2012 Reserve Report.

2

4.8x

9.8x

4.7x

7.4x

2009 2010 2011 2012

Covenant: <2.75x

Covenant: >3.5x

SOLID METRICS & LEVERAGE

LEVERAGE: GROSS DEBT / ADJUSTED EBITDA1

INTEREST COVERAGE: ADJ. EBITDA1 / NET INTEREST EXPENSE

14

106 106 106 106 106

148 168 168 78

211

211 249

549

2009 2010 2011 2012 1Q2013

Equity Strategic Partners Financial Debt

DIVERSIFIED SOURCES OF FUNDING (US$ MM, CUMULATIVE)

NPV ASSET VALUATION(3)

Reserves US$ Million

P1 + P2 $1,005

P1+P2+P3 $1,758

Page 15: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

Macroeconomics Fundamentals

COUNTRY RISK EVOLUTION

TAX REGIME

15

GDP GROWTH AND CPI EXPECTATION

Corporate Tax Royalty

Brazil 34% 10%

Chile 15-20% 3-5%

Colombia 33% 8%

Peru 30% 5%

GDP 2012 2013E Inflation

2013E

Brazil 0.9% 3.1% 5.8%

Chile 5.6% 5.0% 2.6%

Colombia 4.0% 4.1% 2.6%

Peru 6.3% 6.0% 2.5%

Source: Focus Economics (May-2013)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

May-08 May-09 May-10 May-11 May-12 May-13

Source: J.P. Morgan EMBIG as of May 28th, 2013

Brazil Chile Colombia Peru

Latin America

HYDROCARBON POTENTIAL

CHILE

Oil Reserves: 150 MMbbl

Gas Reserves:3,000 BCF

COLOMBIA

Oil Reserves: 1,990 MMbbl

Gas Reserves: 4,000 BCF BRAZIL

Oil Reserves: 19,990 MMbbl

Gas Reserves: 13,000 BCF

ARGENTINA

Oil Reserves: 2,500 MMbbl

Gas Reserves: 13,000 BCF

Oil Reserves (MMbbl) - 2012 Gas Reserves (BCF) - 2011

PERU

Oil Reserves: 580 MMbbl

Gas Reserves: 12,000 BCF

Page 16: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

Creating Opportunities New Business Development

16

BRAZIL

ARGENTINA

COLOMBIA

CHILE

PERU

SOUTH AMERICA

TARGET COUNTRIES

ATTRACTIVE PROJECTS

• Active long term pipeline of 20+ projects

• New business team in place

• New country target: Peru.

• Expanding existing portfolio in Chile, Brazil and

Colombia

• Targeted projects include balance of production,

development and exploration

LGI STRATEGIC PARTNERSHIP

• Build a diversified risk-balanced portfolio of upstream

projects across Latin America

• Side-by-side acquisitions

Page 17: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

2013 Program and Outlook

17

2013 CAPITAL INVESTMENT WORK PROGRAM

• US$200-230 million (approximately US$350 million

including new acquisitions)

FIND AND PRODUCE OIL AND GAS

• Drill 35-45 wells to increase oil and gas reserves

IMPROVE FINANCIAL PERFORMANCE

• Continuously increase operating and investment

efficiency to improve economic performance

MANAGE RISK

• Spread work program exposure between production,

development and exploration projects and oil and gas.

• Expand funding exposure and capital sources

EXPAND BUSINESS

• Acquire new projects in Latin America – targeting

assets with proven reserves and production and with

development and exploration upside

STRENGTHEN COMMITMENT

• Continue to build a performance-driven culture that

values and protects shareholders, employees,

environment and communities to support the long-term

business plan

Strongly Positioned

Page 18: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

Investment Case

18

TEAM

• Experienced team and management with record of finding

oil and gas and converting underperforming assets into

successful projects.

ASSET BASE WITH PROVEN VALUE AND UPSIDE

• NPV asset value estimates of US$1.0 billion for 2P and

US$1.8 billion for 3P (D&M 2012)

• 27 block portfolio in 4 countries with attractive production,

development, exploration and unconventional resource

opportunities

OPERATIONAL AND FINANCIAL PERFORMANCE AND

TRACK-RECORD

• Drilled over 120 wells since 2007 with a success rate of

66%

• CAGR EBITDA 09-12: 94%

CAPITAL STRENGTH

• Ability to raise capital from diverse sources

• Aligned and supportive shareholders and long-term

partners including the IFC (of the World Bank)

NEW PROJECT OPPORTUNITIES

• Strategic growth partnership with LG International (LG)

from Korea to build a portfolio of upstream projects

throughout Latin America

Unique Vehicle for Latin American E&P

Page 19: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

Company Directory

19

Contacts

Nominated Adviser & Broker

Oriel Securities Limited

150 Cheapside

London EC2V 6ET, United Kingdom

www.orielsecurities.com

Reporting Petroleum Engineers

DeGolyer and MacNaughton

5001 Spring Valley Road Suite 800 East

Dallas, Texas 75244, USA

www.demac.com

Solicitors

Norton Rose LLP

3 More London Riverside

London SE1 2AQ

www.nortonrose.com

Auditors

Pricewaterhouse Coopers

1 Embankment Place

London WC2N 6RH

www.pwc.com

Juan Pablo Spoerer

Corporate CFO

Pablo Ducci

Funding & Investor Manager

Santiago, Chile

Phone: +(56 2) 22429600

Email: [email protected]

GEOPARK CHILE LIMITED

Nuestra Señora de los Ángeles 179,

Las Condes, Santiago, Chile

Page 20: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

Appendix

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21

Corporate Structure and Shareholders

SIMPLIFIED CORPORATE STRUCTURE

GeoPark

Holdings Ltd.

GeoPark

Chile S.A.

GeoPark

Colombia S.A.

GeoPark Fell

S.p.A. GeoPark

Llanos S.A.S.

GeoPark Latin

America Ltd -

Agencia Chile

GeoPark

Brazil SpA.

GeoPark TdF

S.A.

GeoPark

Colombia

S.A.S.

GeoPark

Magallanes

Ltda.

GeoPark

Luna S.A.S.

LG

International

20%

14%

1LG International Corporation, a Korean conglomerate, whose business includes a portfolio of energy and raw

material projects, including oil and gas projects in the Middle East and in Southeast and Central Asia. A+ rating

by NICE (National Information & Credit Evaluation, Inc.) and KIS (Korea Investors Service, Inc.)

80% 80% 100%

18.8%

16.1%

11.4% 7.9%

7.6%

5.2% 5.1%

27.9%

SHAREHOLDERS STRUCTURE (DEC-2012)

G. O’Shaughnessy

Energy Holdings

Cartica

IFC

Pershing Keen

Moneda A.F.I.

Socoservin

Others

1

# Shares: 43,495,585

# Fully Diluted Shares:

46,110,655

Price (£)2: 5.75

Price ($)2: 8.96

Market Cap US$ 2: 390

1Controlled by James F. Park 2As of May 2, 2013.

BOARD OF DIRECTORS

• 6 members, with 4 non-executive independent directors

• Audit Committee formed by 3 independent board members

Appendix

Page 22: Delivery and Growth - Investis Digitalgeopark-ir.prod-use1.investis.com/~/media/Files/G/...BTG Pactual & Celfin Southern Cone / Andean Conference June 2013 Delivery and Growth

(1) Working interest corresponds to the working interests held by GeoPark’s respective subsidiaries in such block, net of any working interests and/or economic interests held by other parties in such block. (2) As of the date of this presentation, LGI has a 20% equity interest in our Chilean operations through GeoPark Chile and a 20% equity interest in our Colombian operations through GeoPark Colombia. (3) Reflects gross area as of March 31, 2013. Gross area refers to the total acreage of each block. (4) Reflects net proved and probable reserves as of December 31, 2012. (5) Reflects net average production for 1Q 2013. Net production refers to average production for each block, net of any working interests or economic interests held by others in such block. (6) LGI has a 14% direct equity interest in our Tierra del Fuego operations through GeoPark TdF and a 20% direct equity interest in GeoPark Chile, for a total of a 31.2% effective interest in our Tierra del Fuego operations. (7) Although GeoPark is the sole title holder of the working interest in the Yamu block, other parties have been granted economic interests in this block. Accordingly, our working interest does not reflect our actual economic interest in such block. (8) GeoPark’s net proved and probable reserves for the Yamu block reflect our reserves, net of other parties’ economic interests in Yamu block. (9) Currently have a 40% working interest in the Llanos 17 block (10) GeoPark has a 10% economic interest in the Llanos 32 block. The transfer of the 10% ownership interest to us is subject to the approval of ANH. (11) GeoPark through its subsidiaries

Summary By Block Appendix

22

Country Block Operator Partners Working

interest (%)1,2 Basin

Gross area

(‘000acres)3

P1+P2 reserves Net production Concession expiration year

MMboe4 % of Oil Mboepd⁵ % of Oil

Chile

Fell GeoPark na 100 Magallanes 368 45 36 9 65 Production: 2032

Tranquilo GeoPark Pluspetrol, Wintershall,

Methanex 29 Magallanes 1,232 – – – –

Exploration: 2013 Production:

2043

Otway GeoPark Pluspetrol, Wintershall,

IFC, Methanex 25 Magallanes 1,474 – – – –

Exploration: 2017 Production:

2043

Isla Norte GeoPark ENAP 60 Magallanes 130 – – – – Exploration: 2019 Production:

2044

Campanario GeoPark ENAP 50 Magallanes 192 – – – – Exploration: 2020 Production:

2044

Flamenco GeoPark ENAP 50 Magallanes 141 – – – – Exploration: 2019 Production:

2044

Subtotal Chile 3,537 45 36 9 65

Colombia

La Cuerva GeoPark11 na 100 Llanos 47 4 100 2 100 Exploration: 2014 Production:

2038

Llanos 34 GeoPark11 Parex, P1Energy 45 Llanos 82 7 100 2 100 Exploration: 2015 Production:

2039

Llanos 62 GeoPark11 na 100 Llanos 44 – – – – Exploration: 2017 Production:

2041

Yamu GeoPark11 na 100 Llanos 11 19 100 1 100 Exploration: 2012 Production:

2036

Llanos 17 Ramshorn Parex 40 Llanos 109 – – – 100 Exploration: 2015 Production:

2039

Llanos 32 P1 Energy Parex, APCO 10 Llanos 100 0 100 0 100 Exploration: 2015 Production:

2039

Arrendajo Pacific na 10 Llanos 78 – – 0 100 Exploration: 2017 Production:

2041

Abanico Pacific na 10 Magdalena 32 – – 0 100 Production: 2022

Cerrito Pacific na 10 Catatumbo 10 – – – – Production: 2028

Jagüeyes 3434A Parex na 5 Llanos 61 – – – – Exploration: 2014 Production:

2038

Subtotal Colombia 575 12 100 5 100

Brazil

BCAM-40 Petrobras QGOG, Brasoil 10 Cam./Almada 5.4 11 - 4,140 - 2022

REC-T94 GeoPark na 100 Reconcavo 7.6 - - - -

REC-T85 GeoPark na 100 Reconcavo 7.6 - - - -

POT-T 664 GeoPark na 100 Potiguar 7.9 - - - -

POT-T 665 GeoPark na 100 Potiguar 7.9 - - - -

POT-T 619 GeoPark na 100 Potiguar 7.9 - - - -

POT-T 620 GeoPark na 100 Potiguar 7.9 - - - -

POT-T 663 GeoPark na 100 Potiguar 7.9 - - - -

Subtotal Brazil 60.1 11

Argentina

Del Mosquito GeoPark na 100 Austral 17 – – 0 78 2016

Cerro Doña

Juana GeoPark na 100 Neuquén 28 – – – – 2017

Loma Cortaderal GeoPark na 100 Neuquén 20 – – – – 2017

Subtotal Argentina 65 – – 0 78

Total 4,172 68 49 14 79