Geopark Limited Strategic partnership in Brazil (1920P)
September 30 2013 - 2:02AM
UK Regulatory
TIDMGPK
RNS Number : 1920P
Geopark Limited
30 September 2013
Embargoed for release at 7:00 30 September 2013
am
TECPETROL S.A. AND GEOPARK LIMITED
STRATEGIC PARTNERSHIP FOR BRAZIL
Tecpetrol S.A. ("Tecpetrol"), the oil and gas subsidiary of the
Techint Group (the multinational oilfield and steel conglomerate),
and GeoPark Limited ("GeoPark"), the Latin American oil and gas
explorer, operator and consolidator with operations and producing
properties in Chile, Colombia, Brazil and Argentina (AIM: GPK), are
pleased to announce the formation of a new strategic alliance to
jointly identify and study and potentially acquire upstream oil and
gas opportunities in Brazil, with a specific focus on the Parnaiba,
Sao Francisco, Reconcavo, Potiguar and Sergipe-Alagoas basins.
Tecpetrol has an extensive track-record as an oil and gas
explorer and operator throughout the Americas with its portfolio of
assets currently in Argentina, Peru, Colombia, Ecuador, Mexico
Bolivia, Venezuela and the United States, and with a current net
production of over 85,000barrels of oil equivalent per day.
The objective of the Tecpetrol-GeoPark strategic partnership is
to build a portfolio of new upstream opportunities in Brazil - a
rich hydrocarbon region where GeoPark has recently entered through
the signing of seven new exploration blocks in the Reconcavo and
Potiguar basins (subject to final execution by the director general
of the Brazilian National Petroleum, Natural Gas and Biofuels
Agency), as well as, the agreed acquisition of Rio das Contas
Produtora de Petróleo Ltda., with a 10% working interest in the
Manati Field.
Commenting, James Park, CEO of GeoPark, said: "Tecpetrol is one
of the region's leading private E&P operators and explorers,
with vast experience, know-how and a great track-record and
reputation. We are proud to be partnering with them on this
important initiative and to work to expand our existing platform
and operations in Brazil."
GeoPark can be visited online at www.geo-park.com
For further information please contact:
GeoPark Limited
Juan Pablo Spoerer (Chile)
Pablo Ducci (Chile) +54 2 2242 9600
Oriel Securities - Nominated Adviser and
Joint Broker
Michael Shaw (London) +44 (0)20 7710 7600
Tunga Chigovanyika (London)
Macquarie Capital (Europe) Limited - Joint
Broker
Steve Baldwin (London) +44 (0)20 3037 2000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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