GeoPark made a new discovery in the CN-V block in the Neuquen Basin, Argentina.

Wildcat Rio Grande Oeste 1 penetrated a potential net pay of 400 feet and preliminarily tested flowing 300 b/d of 28.0o API crude oil in a natural flow.

The discovery helps de-risk the block for GeoPark and partner Wintershall, setting the stage for drilling additional prospects.

It also finally provides GeoPark with a reserve, production, and cash flow base in Argentina to balance its exploration potential there, so as to be conformable to its asset building policy.

We await further details to update our intrinsic value assessment of and our outlook for GeoPark. Meanwhile, we commend the excellent execution by the management of its operational plan in the country.