New Chief Financial Officer Appointed - Seite 2

2023 Exploration Campaign Adds 5,500 Bopd Gross and Opens New Drilling Opportunities

GeoPark announces the successful drilling, testing and putting on production of two new exploration wells, (i) the Bisbita Centro 1 well in the Llanos 123 Block and (ii) the Zorzal Este 1 well in the Llanos 87 Block. These two wells are currently producing approximately 1,500 bopd gross in aggregate.

GeoPark’s 2023 exploration drilling campaign continues delivering positive results with multiple new plays being opened, adding new appraisal and delineation activity.

The main highlights of the 2023 exploration and appraisal drilling campaign include:

• Four successful exploration wells in the Llanos 123 and Llanos 87 blocks, adding over 3,200 bopd gross in aggregate and including Toritos, a new stratigraphic play in the Paleocene
• Three successful wells in the new combined structural/stratigraphic U-sand play in the Perico Block (Ecuador), adding 2,300 bopd gross in aggregate
• Positive preliminary logging information in the Halcon 1 well in the CPO-5 Block (GeoPark non-operated, 30% WI) and currently drilling the Perico 1 exploration well, both targeting the Paleocene play and trend

GeoPark’s 2024 drilling campaign will focus on continuing the development of the Llanos 34 Block (GeoPark operated, 45% WI), and on appraising and delineating the new plays being opened by the 2023 exploration drilling campaign in the Llanos Basin in Colombia and in the Oriente Basin in Ecuador.

Llanos 123 Block

The Bisbita Centro 1 exploration well reached total depth in November 2023 with logging information indicating hydrocarbon potential in the Paleocene (Guadalupe) formation. Testing activities started in late November 2023 and the well is currently producing approximately 860 bopd of 19 degrees API with a water cut of less than 1%.

The Bisbita Centro 1 well is the third successful exploration well drilled by GeoPark in the Llanos 123 Block in 2023, following the Saltador 1 and the Toritos 1 exploration wells that initiated testing in July and October 2023, respectively.

Llanos 87 Block

The Zorzal Este 1 exploration well reached total depth in November 2023 with logging information indicating hydrocarbon potential in the Paleocene (Guadalupe) formation. Testing activities started in late November 2023 and the well is currently producing approximately 660 bopd of 33 degrees API with a water cut of less than 1%.