LONDON, OCTOBER 2007geopark-ir.prod-use1.investis.com/~/media/Files/G/... · May-06 Jun-06 Jul-06...

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LONDON, OCTOBER 2007

Transcript of LONDON, OCTOBER 2007geopark-ir.prod-use1.investis.com/~/media/Files/G/... · May-06 Jun-06 Jul-06...

  • LONDON, OCTOBER 2007

  • 2

    39,710100Loma CortaderalNeuquenArgentina35,954100Cerro Dona JuanaNeuquenArgentina190,000100Del MosquitoAustralArgentina440,000100FellAustralChile

    Area (Acres)

    WorkingInterest (%)

    BlockBasinCountry

    4 blocks (3 Argentina, 1 Chile) 705,664 acres under licence100% working interestsOperatorship of all 4 blocksRisk-balanced opportunities (production, development, exploration projects)

    Overview: Assets = Acreage + Reserves + Production

    SOUTH AMERICA

    ARGENTINA

    PRODUCTIVE BASINS

    GEOPARK BLOCKS

    NEUQUEN

    DEL MOSQUITO

    COMODORO

    SANTIAGOMENDOZA

    SALTA

    BUENOS AIRES

    CHILE

    FELL BLOCK

    LOMA CORTADERAL

    CERRO D. JUANA

    BLOCK (Arg)

    BLOCK (Arg)

    RIVADAVIA

    REFERENCES

    1

    12

    20

    1

    12

    Te-3

    Te-2

    Te-1

    T-8

    T-5T-4

    T-3

    Sa-1

    SN-3

    SN-2

    SN-1S-2

    S-1

    PS-1

    11PL-10BPL-10A

    PL-10

    PL-9

    PL-8

    PL-7PL-6

    PL-5

    PL-4

    PL-3

    PL-2

    PL-1A

    O-1

    OK-1

    NS-1

    NO-2

    NO-1 N-4

    N-3

    N-2

    N-1

    Mur-1

    MunO-1 Mun-3

    Mun-2

    Mun-1

    E MAO-1

    MA-31

    30

    29

    2827

    26

    MA-25

    23MA-22MA-21

    MA-19

    18

    MA-17

    MA-16

    MA-15

    MA-14MA-13

    MA-12MA-11

    MA-10

    MA-9

    MA-8MA-7

    MA-6

    MA-5MA-4

    MA-3

    MA-2MA-1

    Mol-7

    Mol-6Mol-5

    Mol-4 Mol-3

    Mol-2Mol-1

    Mog-1

    MN-2MN-1

    KAN-5

    KAN-4

    KAN-3

    KAN-2

    KAN-1

    KA-3

    KA-2AKA-2

    KA-1

    Gu-2

    Gu-1

    E-3E-2

    E-1

    DorN-1

    Dor-3

    DO-2

    D-14

    D-13

    D-11

    D-10

    D-9

    D-8D-7

    D-6

    D-5

    D-3

    D-2D-1

    COZ-1ACOZ-1

    CH-1

    PDO-2

    PDO-1

    PDN-3PDN-2APDN-2

    PDN-1

    PD-11

    PD-10

    PD-8

    PD-7

    PD-6

    PD-5

    PD-4

    PD-3PD-2PD-1

    Me-2Me-1

    F-1

    Dir-1

    CN-3

    CN-2

    CN-1

    F-2

    M-1

    Fell-2

    DO-3

    DO-1BN-2

    BN-1A

    D-4

    Fell-1

    BN-3

    Mol-7 Bis

    D-A

    D-B

    MA-5BIS

    MA-11BIS

    PL-4BIS

    PL-9BIS

    PL-1

    T-8

    T-7

    T-2

    T-1

    CG-1

    T-6AT-6

    24

    O-1001

    MA-1001MA-1002

    PDN-1001

    SN-1001

    10 km10 km C.VIRGENES

    4 2714

    32

    LV.x-1

    DL-4

    DMN.a-2

    DMN.x-1

    33

    8

    LDM.x-2

    ZP.x-1

    SG-1

    LDMS.x-1

    DL-3

    DL-1

    9

    7

    5

    31

    30

    DM.x-3

    2925

    24

    2322

    21

    20

    19

    18 171615

    13

    12

    11

    10

    DM.x-1

    3 2

    CNo.x-1

    CF.x-1

    DMN.a-3

    EE

    BLOCK (Arg)

    10 km

    ACh.x-1 23

    CDJ.x-1

    CLP.x-1

    ABM.x-1

    LoC.x-1

    PMy.x-1

    (Chile)

    500 km

    A T L A N T I C O C E A N

    P A C I F I C O C E A N

    10 km

    10 km

    10 km

    80% in Chile / 20% in Argentina 35% Oil / 65% Gas

    Blocks: Reserves:

    Oil and Gas Production:

    0

    200

    400

    600

    800

    1000

    1200

    1400

    1600

    2ºSem2005

    1ºSem2006

    2ºSem2006

    1ºSem2007

    BO

    EPD

    H22005

    H12006

    H22006

    H12007

  • 3

    Overview: Capabilities = People + Tools + Capital

    Santiago Norte Plant

    Pampa Larga Plant

    Kimiri Aike Dew Point Plant

    Quintana Rig 09

    Southern Cross Rig 02

    Southern Cross Rig 01

    Experienced and Successful Team:

    Funding Sources:

    Infrastructure and Rigs:

    Techint, McKee, San Jorge, Chevron22EngineerMiguel Mallo (56)

    ENAP, Weatherford, Schlumberger, Halliburton25EngineerGuido Jimenez (57)

    Chevron8EngineerFederico Resio (30)

    San Jorge, Chevron10EngineerAugusto Zubillaga (36)

    YPF, Pluspetrol29EngineerRicardo Saldano (55)

    Repsol YPF, San Jorge, Chevron16GeologistMario Outon (44)

    Baker Huges, YPF, San Jorge, Chevron16GeologistPablo Berri (44)

    YPF, San Jorge, Chevron19GeophysicistGuillermo Rossi PhD (46)

    YPF, San Jorge, Chevron25EngineerJuan Carlos Ferrero (45)

    YPF, San Jorge, Chevron25GeologistSalvador Minitti (52)

    Total, Pan American (BP), Wintershall19GeophysicistMario Vila PhD (47)

    YPF, ARCO, Lagoven, San Jorge, Chevron20GeophysicistMaria Ester Lara PhD (50)

    YPF, Tecpetrol, San Jorge, Chevron28GeologistCarlos Murut (50)

    ENAP, Halliburton28EngineerIvan Hidalgo (52)

    YPF, San Jorge, Chevron26GeologistCarlos Gulisano PhD (55)

    BJ Services, San Jorge, Chevron26EngineerGustavo Henderson (50)

    YPF, Schlumberger, San Jorge, Chevron25GeologistGerardo Hinterwimmer (50)

    Previous CompaniesYearsExperience

    ProfessionName (Age)

  • 4

    Overview: Opportunities = Potential + Market + Acquisitions

    A R G E N T I N AA R G E N T I N A

    C H I L EC H I L E

    METHANEX PLANT

    FELL BLOCK

    DEL MOSQUITO

    BLOCK

    Growth from Existing Blocks:• Development of P1, P2 and P3 Reserves (57 million boe)• Development and exploration of Contingent Resources (48 million boe)• 50+ prospects delineated from 3D seismic

    Strategic Market Position: Regional Consolidator:

  • 5

    0.00

    50.00

    100.00

    150.00

    200.00

    250.00

    300.00

    350.00

    400.00

    450.00

    500.00

    16-M

    ay-0

    607

    -Jun-

    0630

    -Jun-

    0621

    -Jul-0

    611

    -Ago

    -06

    04-S

    ep-0

    625

    -Sep

    -06

    16-O

    ct-06

    06-N

    ov-0

    627

    -Nov

    -06

    18-D

    ic-06

    12-E

    ne-0

    702

    -Feb

    -07

    23-F

    eb-0

    716

    -Mar-

    0711

    -Abr

    -07

    02-M

    ay-0

    724

    -May

    -07

    15-Ju

    n-07

    06-Ju

    l-07

    27-Ju

    l-07

    17-A

    go-0

    707

    -Sep

    -07

    0.000

    500.000

    1000.000

    1500.000

    2000.000

    2500.000

    3000.000

    GeoPark Clos ing Price Volume

    GPK - HISTORICAL PRICES FROM 16 MAY 2006 TO 10 SEPTEMBER 2007

    Volu

    me

    (in T

    hous

    and

    of s

    hare

    s)

    Reb

    ased

    Clo

    sing

    Pric

    e (

    GBX

    )

    16 August: 1,475,488

    01 June: 2,660,000

    19 April: 1,512,973

    Overview: LSE / AIM Performance

    GPK Vs. Oil & Gas AIM Sector and FTSE AIM All-Share

    Comparison from 16 May 2006 to 10 September 2007

    200

    250

    300

    350

    400

    450

    May

    -06

    Jun-

    06

    Jul-0

    6

    Ago

    -06

    Sep

    -06

    Oct

    -06

    Nov

    -06

    Dic

    -06

    Ene

    -07

    Feb

    -07

    Mar

    -07

    Abr

    -07

    May

    -07

    Jun-

    07

    Jul-0

    7

    Ago

    -07

    Sha

    re P

    rice

    (p

    Geopark plc FTSE All Share FTSE AIM Oil & Gas

    • Shares outstanding at 30 June 2007: 30,685,860

    • Fully diluted shares outstanding at 30 June 2007: 32,858,096

    • Trading volume (shares per day): 42,083 (since IPO) / 71,833 (YTD)

    • Market capitalization (21 September 2007): GBP 128.9 million

  • 6

    2007 Third Quarter Update: Key Messages

    • Solid financial results in First Half 2007

    • Three rigs now in operation -- with 30 well drilling programme planned for 2007- 2008 period

    • Significant additions to infrastructure have created a platform for future production growth and rapid commercialization of production

    • On track to meet year-end production target of 4,000 boepd

    • Prospect inventory has increased following 3D seismic interpretation – positive implications for reserves

    • Methanex Alliance: substantially de-risks activities on the Fell Block in Chile

    • GEOPARK expects to be able to double its production in 2008

  • 7

    Production: +92% YOY– from 632 boepd to 1,216 boepd– delays in production start-up due to late

    arrival of drilling rig in Chile

    Revenues: +72% YOY– higher gas prices + 54%

    Gross Profit: +75% YOY

    CAPEX: US$ 11.1 MM

    Net Loss: US$ 4.6 MM– includes write-off from 3 workovers (US$ 0.9

    MM)– includes charge related to employee

    incentive programme (US$ 2.0 MM)

    Amounts in US$ ´ 000

    Six-months period ended

    30 June, 2007

    Six-months period ended

    30 June, 2006

    Year ended December

    31, 2006

    NET REVENUE 4,582 2,665 6,008

    Production costs (2,970) (1,746) (4,025)

    GROSS PROFIT 1,612 919 1,983

    Other operat ing income 160 - 68

    Explorat ion costs (1,659) (815) (1,751)

    Selling and administrat ive expenses (4,620) (3,953) (9,145)

    OPERATING LOSS (4,507) (3,849) (8,845) Financial income 909 1,071 1,687 Financial expenses (981) (4,061) (4,175)

    LOSS BEFORE TAX (4,579) (6,839) (11,333) Tax on loss - (2) (16)

    LOSS FOR THE YEAR / PERIOD (4,579) (6,841) (11,349)

    First Half Results: Solid Progress

  • 8

    US$ 20 MM in borrowings from a 6 year loan facility from the IFC

    Available cash and facilities at 30 June 2007: US$ 20.4 MM

    Total Capitalization Ratio of 62% at 30 June 2007

    ASSETS (Amounts in US$ ´ 000)

    Six-months period ended

    June 30, 2007

    Six-months period ended

    June 30, 2006

    Year ended December

    31, 2006 EQUITY AND LIABILITIES (Amount in USD)

    Six-months period ended

    June 30, 2007

    Six-months period ended

    June 30, 2006

    Year ended December

    31, 2006

    Intangible assets and PP&E 31,457 9,673 21,711 Share capital and share premium 52,727 52,626 52,626

    Other non current assets 2,207 1,360 3,496 Reserve and others 3,123 2,949 3,082

    NON CURRENT ASSETS 33,664 11,033 25,207 Retained earnings (17,194) (12,021) (14,601)

    EQUITY 38,656 43,554 41,107

    Other current assets 8,814 1,806 2,863 Borrow ings (Non Current) 17,639 70 16,598

    Cash and cash equivalents 20,380 32,813 34,194 Borrow ings (Current) 2,770 -

    CURRENT ASSETS 29,194 34,619 37,057 Other current liabilit ies 3,793 2,028 4,559

    LIABILITIES 24,202 2,098 21,157

    ASSETS 62,858 45,652 62,264 EQUITY AND LIABILITIES 62,858 45,652 62,264

    First Half Results: Strengthened Balance Sheet

  • 9

    Operational Highlights: Creating a Platform for Growth

    Infrastructure Expansion– Kimiri Aike Gas Production Facility (“Dew Point Plant”) constructed during first half and

    commissioned in September 2007

    – Current capacity 24 mmcfd

    – Additional compressor to increase capacity to 35 mmcfd by 1Q08

    – 16 Km of new pipelines constructed in Chile to tie-in new gas producing wells

    3D Seismic Programme– 472 square kilometers (US$ 7 million) on the Fell Block

    – Completed in Q107 and currently undergoing final interpretation

    – Expansion of prospect inventory

    Commencement of Drilling Programme– 3 rigs operating in Chile and Argentina

    – 4 wells completed on time and below budget Chile • Pampa Larga 12 Tested 3.1 mmcfd of gas, being hooked-up to plant (October 07) • Santiago Norte 4 Completed and cased, waiting for frac (October 07) • San Miguel 1 Completed and cased, currently testing • Pampa 1 Now drilling Argentina • Zanja Dinero 1 Abandoned • Campo Leandro 1 To spud in October 07

  • 10

    Production: On Track to Meet 2007 Exit Rate of 4000 BOEPD

    0

    500

    1000

    1500

    2000

    2500

    3000

    3500

    4000

    4500

    5000

    Sep-07 Oct-07 Nov-07 Dec-07

    Base Argentina Base Chile Tested wells Drilled wells New wells

    Year- end Production TargetB

    OE

    PD

  • 11

    Fell Block: Opportunity Inventory

    A R

    G E

    N T

    I N

    A

    A T

    L A

    N T

    I C

    O C

    E A

    N

    P A

    C I

    F I C

    O

    C E

    A N

    FELL BLOCK

    AUSTRALBASIN

    C H

    I L

    E

    LOCATION MAP

    A R

    G E

    N T

    I N

    A

    C H

    I L

    E

    AU-CHI-60( Jul 07 )

    EstanciaBrazo Norte

    LagunaAna

    EstanciaBrazo Norte

    LagunaAna

    D-4

    Bahía Posesión

    Cañadon Grande

    Condor

    Condor Oeste

    Tandy

    Bahía Munición Municion

    Okerer Aike

    Punta Tandy

    Molino

    Chulengo

    Meric

    PD Norte

    PD EstePD Oeste

    Bahía Dirección

    Bahía Santiago

    Punta Barrosa

    Faro Satelite

    Espora

    Picton

    Angostura

    Manantiales

    Ang. Este

    Ang. Sur

    Manantiales Este

    Monte Aymond

    Fell

    Ciaike

    San Jorge

    Tumbero

    Dirección

    Faro Este

    Pta. Satelite

    Punta Anegada

    Punta

    Caleta Municìones

    Faro Cerro Direcciòn

    Faro Punta Anegada

    Paso El Condor

    Santiago

    Amadeo

    Seccion Dicky

    Pto. Municiòn

    Lagunade Los Tabanos

    Dorado

    Línea Arbitraria

    Delgada Este

    Co Negro

    Monte Aymond O.

    PARQUE NACIONALPALI AIKE

    PL.a-12

    PLE.x-1

    Bahía Posesión

    Cañadon Grande

    Condor

    Condor Oeste

    Tandy

    Bahía Munición Municion

    Okerer Aike

    Punta Tandy

    Molino

    Codorniz

    Chulengo

    Meric

    PD Norte

    PD EstePD Oeste

    Bahía Dirección

    Bahía Santiago

    Punta Barrosa

    Faro Satelite

    Espora

    Picton

    Angostura

    Manantiales

    Ang. Este

    Ang. Sur

    Manantiales Este

    Monte Aymond

    Fell

    Ciaike

    San Jorge

    Tumbero

    Dirección

    Faro Este

    Pta. Satelite

    Punta Anegada

    Punta

    Caleta Municìones

    Faro Cerro Direcciòn

    Faro Punta Anegada

    Paso El Condor

    Santiago

    Amadeo

    Seccion Dicky

    Pto. Municiòn

    Lagunade Los Tabanos

    Dorado

    Línea Arbitraria

    Delgada Este

    Co Negro

    Monte Aymond O.

    Kimiri Aike NorteKimiri Aike Norte

    San MiguelSM.x-1

    Puesto RangerPR.x-1

    Bump HillBH.x-1

    Cerro SutlejCoS.x-1

    Ni.a-5

    20

    4

    25

    5 6

    21

    714

    1319 2427

    3122

    1718201541

    29

    363551012

    2

    23

    23037

    13234

    7

    1

    1

    1

    2

    4 36

    535

    1

    645

    32

    12

    1

    Te-3

    Te-2

    Te-1

    T-5T-4

    T-3

    SN-3

    SN-2

    SN-1

    S-2

    S-1

    PS-1

    11PL-10BPL-10APL-10

    PL-9

    PL-7

    PL-6PL-4

    PL-3

    PL-2

    PL-1A

    O-1

    NO-2

    N-4

    N-3

    N-2

    N-1

    Mur-1

    MunO-1Mun-3

    Mun-2

    Mun-1

    MAO-1

    MA-31

    302928

    27

    26

    MA-25

    23

    MA-22

    MA-19

    18MA-17

    MA-16

    MA-15

    MA-14

    MA-13

    MA-12MA-11

    MA-10

    MA-9

    MA-8

    MA-7

    MA-6

    MA-5MA-4

    MA-3

    MA-2

    MA-1

    Mol-7

    Mol-6 Mol-5Mol-4 Mol-3

    Mol-2 Mol-1

    Mog-1

    MN-2MN-1

    KAS-3

    R KAS-2

    KAS-1

    KAN-5

    KAN-4

    KAN-3

    KAN-1

    KA-2AKA-2

    Gu-2

    Gu-1

    FE-29

    FE-13

    FE-12

    E-3

    E-2

    E-1

    DorS-1-1A

    DorN-1

    Dor-4

    Dor-3

    Dor-2

    DO-2

    D-14

    D-13

    D-11

    D-10

    D-9

    D-8

    D-7D-6

    D-5

    D-3

    D-2

    D-1

    COZ-1ACOZ-1

    CH-1

    Am-1

    PDO-2

    PDO-1

    PDN-3PDN-2A

    PDN-2

    PDN-1

    E PDE-38

    37

    36

    35

    34

    33

    32

    31

    30

    29

    28

    27E PDE-26

    25

    24

    24

    E PDE-23E PDE-23

    22

    1818

    17 1616

    15

    E PDE-14

    13

    E PDE-12

    10E PDE-10

    98

    7B7A

    E PDE-7

    6E PDE-5

    4

    32

    E PDE-1

    PD-11

    PD-10

    PD-9

    PD-8

    PD-7

    PD-6

    PD-5

    PD-4

    PD-3PD-2PD-1

    Me-2

    Me-1

    FE-28

    FE-27

    FE-26FE-25

    FE-24FE-23

    FE-22

    21

    FE-20

    FE-19

    18A18

    FE-17

    FE-16AFE-16

    FE-15A

    FE-15

    FE-14FE-11

    FE-10

    FE-9FE-8

    FE-7FE-6FE-5

    FE-4

    FE-3FE-2FE-1

    F-1

    11Dir-11

    10ADir-10

    98 7

    Dir-6

    5

    Dir-4

    Dir-3

    Dir-2Dir-1

    CN-3

    CN-2

    CN-1

    F-2

    M-1

    Fell-2

    DO-3

    DO-1

    Ci-1

    BN-2

    BN-1AFell-1

    BN-3

    MA-5BIS

    MA-11BIS

    PL-1

    Dor-1

    T-8

    T-7

    T-2

    T-1

    CO-1

    C-9

    CG-1

    T-6A T-6

    24

    MA-1001

    Ci-2

    21

    PL-5

    PL-8

    SJ-2

    SJ-1

    Tu-1

    Sau-1

    NO-1

    NS-1

    KAN-2

    KA-1KA-3

    DorS-9DorS-10

    8

    DorS-7

    CO-6

    7

    8

    CLi.e-3

    HT.x-2

    HT.x-1

    ARG.MAy-2

    CLi.e-1

    CLi.e-2

    CLi.e-4

    ARG.MAy-3

    ARG.MAy-4

    ARG.MAy-1

    OK-1

    SNN.a-4

    MARTIN

    BRAZONORTE

    TETERA

    DICKY

    DICKY O.

    SANTIAGONORTE

    ESCORIAL

    TANDY

    MTE. AY ORIENTAL

    MTE. AY. NUEVO

    GUANACO

    MUNICION O.

    MATA NEGRA

    MOGOTE

    MURTILLAD. NORTE

    FARO

    PUNTADELGADA

    MOLINO

    NIKAOVEJERO

    K.AIKE

    10 km

    A R G E N T I N A

    S T R A I T

    O F

    M A G A L L A N E S

    M.A. ESTRATIGRAFICOP. LARGA

    SAUCE

    TUMBEROESTE

    K.AIKESUR

    DORADOSUR (Sp)

    DORADOSUR (Tc)

    C H I L E

    L

    B

    P

    L

    G

    G

    G

    P

    L

    LEGEND

    LIMITE 3D 2006-2007

    PROVEN OIL

    PROBABLE OIL

    POSSIBLE OIL

    PROVEN GAS

    PROBABLE GAS

    POSSIBLE GAS

    PROSPECT / LEAD

    BOLD HIGH LEAD

    EXISTING 3D

    SEISMIC

    2006-07 3D SEISMIC

    FELL BLOCK

    NATIONAL PARK

  • 12

    Fell Block: Drilling Program 2007-2008

    DICKY

    SANTIAGONORTE

    MONTEAYMOND

    PUNTADELGADA

    MOLINO

    NIKA

    OVEJERO

    KIMIRIAIKE

    A R G E N T I N A

    E S T R E C H O

    D E

    M A G A L L A N E S

    PAMPALARGA

    C H I L E

    20

    4

    25

    5 6

    21

    714

    1319 2427

    3122

    1718201541

    29

    363551012

    2

    23

    23037

    13234

    7

    1

    1

    1

    2

    4 36

    535

    1

    645

    32

    12

    1

    Te-3

    Te-2

    Te-1

    T-5T-4

    T-3

    SN-3

    SN-2

    SN-1

    S-2

    S-1

    PS-1

    11PL-10BPL-10APL-10

    PL-9

    PL-7

    PL-6PL-4

    PL-3

    PL-2

    PL-1A

    O-1

    NO-2

    N-4

    N-3

    N-2

    N-1

    Mur-1

    MunO-1Mun-3

    Mun-2

    Mun-1

    MAO-1

    MA-31

    302928

    27

    26

    MA-25

    23

    MA-22

    MA-19

    18MA-17

    MA-16

    MA-15

    MA-14

    MA-13

    MA-12MA-11

    MA-10

    MA-9

    MA-8

    MA-7

    MA-6

    MA-5MA-4

    MA-3

    MA-2

    MA-1

    Mol-7

    Mol-6 Mol-5Mol-4 Mol-3

    Mol-2 Mol-1

    Mog-1

    MN-2MN-1

    KAS-3

    R KAS-2

    KAS-1

    KAN-5

    KAN-4

    KAN-3

    KAN-1

    KA-2AKA-2

    Gu-2

    Gu-1

    FE-29

    FE-13

    FE-12

    E-3

    E-2

    E-1

    DorS-1-1A

    DorN-1

    Dor-4

    Dor-3

    Dor-2

    DO-2

    D-14

    D-13

    D-11

    D-10

    D-9

    D-8

    D-7D-6

    D-5

    D-3

    D-2

    D-1

    COZ-1ACOZ-1

    CH-1

    Am-1

    PDO-2

    PDO-1

    PDN-3PDN-2A

    PDN-2

    PDN-1

    E PDE-38

    37

    36

    35

    34

    33

    32

    31

    30

    29

    28

    27E PDE-26

    25

    24

    24

    E PDE-23E PDE-23

    22

    1818

    17 1616

    15

    E PDE-14

    13

    E PDE-12

    10E PDE-10

    98

    7B7A

    E PDE-7

    6E PDE-5

    4

    32

    E PDE-1

    PD-11

    PD-10

    PD-9

    PD-8

    PD-7

    PD-6

    PD-5

    PD-4

    PD-3PD-2PD-1

    Me-2

    Me-1

    FE-28

    FE-27

    FE-26FE-25

    FE-24FE-23

    FE-22

    21

    FE-20

    FE-19

    18A18

    FE-17

    FE-16AFE-16

    FE-15A

    FE-15

    FE-14FE-11

    FE-10

    FE-9FE-8

    FE-7FE-6FE-5

    FE-4

    FE-3FE-2FE-1

    F-1

    11Dir-11

    10ADir-10

    98 7

    Dir-6

    5

    Dir-4

    Dir-3

    Dir-2Dir-1

    CN-3

    CN-2

    CN-1

    F-2

    M-1

    Fell-2

    DO-3

    DO-1

    Ci-1

    BN-2

    BN-1A

    D-4

    Fell-1

    BN-3

    MA-5BIS

    MA-11BIS

    PL-1

    Dor-1

    T-8

    T-7

    T-2

    T-1

    CO-1

    C-9

    CG-1

    T-6A T-6

    24

    MA-1001

    Ci-2

    21

    PL-5

    PL-8

    SJ-2

    SJ-1

    Tu-1

    Sau-1

    NO-1

    NS-1

    KAN-2

    KA-1KA-3

    DorS-9DorS-10

    8

    DorS-7

    CO-6

    8

    CLi.e-3

    HT.x-2

    HT.x-1

    ARG.MAy-2

    CLi.e-1

    CLi.e-2

    CLi.e-4

    ARG.MAy-3

    ARG.MAy-4

    ARG.MAy-1

    Central PL

    OK-1

    Santiago Norte a-4

    Pampa Larga a-12

    San Miguel x-1Pampa x-1

    Nika a-5

    Cerro Sutlej x-1

    Bump Hill x-1

    Puesto Ranger x-1

    Chewelche x-1

    NE Chewelche x-1

    5 km

    P. Larga a-12

    Nika a-5

    Chewelche x-1

    Nika Oeste ST

    Pampa Larga Este x-1

    Nika Sur ST

    Santiago NorteDesarrollo B

    Santiago NorteDesarrollo A

    Dicky

    Monte AymondEstratigráfico

    Pampa Larga a-13

    Pampa LargaExplo. PL-4

    DRILLED WELLS

    CURRENTLY DRILLING

    2007 PROGRAM

    2008 PROGRAM

    Pampa x-1

  • 13

    SB- Datum Top Springhill

    ProposedP.x-1

    TopTobifera

    Amplitude anomaly

    SN-2

    SN-2

    SN.a-4

    SN-1

    SN-3

    P.x-1

    SN-3

    SN-2

    SN.a-4

    SN-1

    SN-3

    P.x-1

    SN-3

    SN-2

    SN.a-4

    SN-1

    SN-3

    P.x-1

    SN-3

    Objective : Springhill FormationTD: 3150 m

    Fell Block: Pampa 1 Well

    Pampa Prospect Reserve Estimate: 30 BCF

  • 14

    SB- datum Top Springhill

    N

    Anomalìa de amplitud

    Proposed Ni.a-5

    Ni.a-5

    Fell Block: Nika 5 Well

    Nika Prospect Reserve Estimate: 17 BCF

    Objective : Springhill FormationTD: 3100 m

  • 15

    Top Springhill

    Amplitude anomaly

    1 Km

    Top Tobifera

    KANN-2

    Proposed PR.x-1

    1 Km

    PR.x-1

    Fell Block: Puesto Ranger 1 Well

    Objective: Springhill FormationTD: 3150 m

    Puesto Ranger Prospect Reserve Estimate: 30 BCF

  • 16

    Del Mosquito Block: Opportunity Inventory

    Ex Baliza Dungeness

    HITO II-I

    HITO II-IIHITO II-III

    HITO II-IV

    HITO II-V

    HITO II-VI

    HITO II-VII

    HITO II-IX

    HITO II-X

    HITO II-XIHITO II-XII

    HITO II-VIII

    s de Enero

    La Pirca

    Trece

    Campo Limite

    FARO VIRGENES

    C.VIRGENES

    P. DUNGENESSSkua

    Atun

    Del Mosquito

    ( 92 Km )Seismic Program

    ( 70 Km )Lead #7

    Seismic Program2

    2

    Pejerrey

    Skua

    DE

    ESTRECHO

    MAGALLANES

    R i

    Cerro Convento

    Campo Molino

    Cerro Norte

    C h o r

    r i l l o

    s

    R i

    d e l o s

    F r a

    i l e s

    Condor Oeste

    Chorrillos

    POSESION

    BAHIA

    Condor Norte

    Zanja Pique

    Laguna del Mosquito

    Dos Lagunas

    Seccion Gap

    Del Mosquito

    Cerro Redondo

    La Vega

    Oceano

    Cañadón

    FARO VIRGENES- Geodine -

    Fraile

    Del Mosquito Norte

    ( 400 Km )Condor Norte

    Seismic Program2

    - CSJ -

    CA-11

    SPITEFUL NORTE

    CL.x-1001

    Bardas Condor

    4

    GIA5.x-1

    GGHG.x-1

    GOC5.x-1

    GHJ10.x-1

    GSJ2.x-1

    32

    31

    21

    23

    24

    25

    26

    1529

    31

    2928

    27

    CN.x-1

    10

    11

    16

    17

    2

    20

    34

    5

    6

    78

    9

    CH"B".x-1

    1013

    14

    18

    19

    2

    21

    23

    25

    28

    3

    45 6

    ChoE.x-1

    ChoN.x-1

    ChoS.x-1

    FDC.x-1

    LPi.x-1

    2

    38

    TC.x-1

    2

    3

    6

    En.x-1

    35 H

    33

    CCv.x-1

    2

    2

    4

    2

    34

    3

    4

    5

    67

    CCvS.x-1

    4

    2

    LBC.x-1

    2

    3

    SF.x-12

    4

    5

    67

    CVi.x-1

    Condor-1

    N-1

    3

    1

    54

    2

    1

    2

    3 4

    5

    6

    7

    8

    9

    10

    10

    16

    6

    7

    8

    48

    43

    44

    46EPu.x-1

    39

    41

    40

    6 O.x-1

    13

    161819 2

    20

    21

    222324

    25

    27

    28

    29

    3

    31

    35

    374

    5

    68

    9

    PN.x-1

    12

    1433

    36 38

    LDM.x-1

    CCRa.x-1

    CLi.x-1

    2

    34

    2

    x-1

    MAY.x-12

    3

    4

    15

    16

    611

    3

    72

    SRC.x-1

    3

    4

    5

    6 7

    8

    1001

    CR-1001

    1005

    10

    11

    12

    13

    14 15

    1617

    18

    19

    2

    20 b

    21

    22

    23

    2425

    26

    2730

    33

    35

    36

    38

    3940 41

    4445

    46

    5

    50

    52

    53

    6 7

    8

    9

    10

    100

    105

    106 107

    108

    12

    13

    14

    15

    16

    17

    18

    19

    2

    20

    21

    22

    23

    2425

    27282930

    3132

    33

    35

    3637

    4

    40

    41

    42

    4345

    46

    47

    48 50

    51

    52

    53

    54

    56

    5758

    59

    62

    6566

    67

    69 71

    76

    788

    80

    84

    86

    87

    8889

    9

    909192 93

    949596 98

    CO-1

    10

    2

    34

    5

    6

    7

    8

    9

    9 (I)

    HV.x-1

    MC.x-1

    MD.x-1

    NR.x-1

    22 (I)

    3 NRS.x-1

    TCE.x-1

    1010

    1011

    1002

    1007

    1005

    1008

    1004

    1009

    Posesion

    Wallis

    3

    63

    Jaiba

    Neptuno4 3

    XE-1

    XE-1

    XE-5

    319

    63

    63

    2 13

    1

    1

    1

    1

    XE-6

    XE-1

    3

    2

    610 7

    3

    13

    14

    104

    1

    12

    Mytilus

    5

    Robalo

    102

    Dungenes

    Pinguino

    Narrow

    Pulpo

    X.E.-2

    a N

    XE-3

    BCo.x-1

    Cho.x-19

    12

    CMo.x-1

    12

    19

    1163

    8

    4 2714

    32

    LV.x-1

    DL-4

    DMN.a-2

    DMN.x-1

    33

    DM.x-2

    6

    8

    LDM.x-2

    ZP.x-1

    SG-1

    LDMS.x-1

    DL-3

    DL-1

    9

    7

    5

    31

    30

    DM.x-3

    2925

    24

    2322

    21

    20

    19

    18 171615

    13

    12

    11

    10

    DM.x-1

    3 2

    CNo.x-1

    CF.x-1

    DMN.a-3

    EE

    FV.x-1FV.e-2

    10

    94 71213

    15

    5 6

    11

    C H I L E

    ARGENTINA

    PROVEN OIL

    PROBABLE OIL

    PROVEN GAS

    PROBABLE GAS

    PROSPECTS

    LEADS

    ATLA

    NTIC

    OCEAN

    PACIF

    IC O

    CEAN

    LOCATION MAP

    10 km

    5

    LAGUNA DEL MOSQUITO

    LEAD

    SOUTHERN FLANKLEAD

    CAÑADON FRAILE SURLEADS

    CAÑADON FRAILELEAD

    EASTERN FLANKPROSPECTS

    4

    3

    2

    1

    6

    7

    8

    9

    10

    CAÑADON LUCKLEADZANJA DINERO

    PROSPECT

    DOS LAGUNASLEAD

    11

    12

    13CAMPO LEANDROPROSPECT

    Ex Baliza Dungeness

    HITO II-I

    HITO II-IIHITO II-III

    HITO II-IV

    HITO II-V

    HITO II-VI

    HITO II-VII

    HITO II-IX

    HITO II-X

    HITO II-XIHITO II-XII

    HITO II-VIII

    s de Enero

    La Pirca

    Trece

    Campo Limite

    FARO VIRGENES

    C.VIRGENES

    P. DUNGENESSSkua

    Atun

    Del Mosquito

    ( 92 Km )Seismic Program

    ( 70 Km )Lead #7

    Seismic Program2

    2

    Pejerrey

    Skua

    DE

    ESTRECHO

    MAGALLANES

    R i

    Cerro Convento

    Campo Molino

    Cerro Norte

    C h o r

    r i l l o

    s

    R i

    d e l o s

    F r a

    i l e s

    Condor Oeste

    Chorrillos

    POSESION

    BAHIA

    Condor Norte

    Zanja Pique

    Laguna del Mosquito

    Dos Lagunas

    Seccion Gap

    Del Mosquito

    Cerro Redondo

    La Vega

    Oceano

    Cañadón

    FARO VIRGENES- Geodine -

    Fraile

    Del Mosquito Norte

    ( 400 Km )Condor Norte

    Seismic Program2

    - CSJ -

    CA-11

    SPITEFUL NORTE

    CL.x-1001

    Bardas Condor

    4

    GIA5.x-1

    GGHG.x-1

    GOC5.x-1

    GHJ10.x-1

    GSJ2.x-1

    32

    31

    21

    23

    24

    25

    26

    1529

    31

    2928

    27

    CN.x-1

    10

    11

    16

    17

    2

    20

    34

    5

    6

    78

    9

    CH"B".x-1

    1013

    14

    18

    19

    2

    21

    23

    25

    28

    3

    45 6

    ChoE.x-1

    ChoN.x-1

    ChoS.x-1

    FDC.x-1

    LPi.x-1

    2

    38

    TC.x-1

    2

    3

    6

    En.x-1

    35 H

    33

    CCv.x-1

    2

    2

    4

    2

    34

    3

    4

    5

    67

    CCvS.x-1

    4

    2

    LBC.x-1

    2

    3

    SF.x-12

    4

    5

    67

    CVi.x-1

    Condor-1

    N-1

    3

    1

    54

    2

    1

    2

    3 4

    5

    6

    7

    8

    9

    10

    10

    16

    6

    7

    8

    48

    43

    44

    46EPu.x-1

    39

    41

    40

    6 O.x-1

    13

    161819 2

    20

    21

    222324

    25

    27

    28

    29

    3

    31

    35

    374

    5

    68

    9

    PN.x-1

    12

    1433

    36 38

    LDM.x-1

    CCRa.x-1

    CLi.x-1

    2

    34

    2

    x-1

    MAY.x-12

    3

    4

    15

    16

    611

    3

    72

    SRC.x-1

    3

    4

    5

    6 7

    8

    1001

    CR-1001

    1005

    10

    11

    12

    13

    14 15

    1617

    18

    19

    2

    20 b

    21

    22

    23

    2425

    26

    2730

    33

    35

    36

    38

    3940 41

    4445

    46

    5

    50

    52

    53

    6 7

    8

    9

    10

    100

    105

    106 107

    108

    12

    13

    14

    15

    16

    17

    18

    19

    2

    20

    21

    22

    23

    2425

    27282930

    3132

    33

    35

    3637

    4

    40

    41

    42

    4345

    46

    47

    48 50

    51

    52

    53

    54

    56

    5758

    59

    62

    6566

    67

    69 71

    76

    788

    80

    84

    86

    87

    8889

    9

    909192 93

    949596 98

    CO-1

    10

    2

    34

    5

    6

    7

    8

    9

    9 (I)

    HV.x-1

    MC.x-1

    MD.x-1

    NR.x-1

    22 (I)

    3 NRS.x-1

    TCE.x-1

    1010

    1011

    1002

    1007

    1005

    1008

    1004

    1009

    Posesion

    Wallis

    3

    63

    Jaiba

    Neptuno4 3

    XE-1

    XE-1

    XE-5

    319

    63

    63

    2 13

    1

    1

    1

    1

    XE-6

    XE-1

    3

    2

    610 7

    3

    13

    14

    104

    1

    12

    Mytilus

    5

    Robalo

    102

    Dungenes

    Pinguino

    Narrow

    Pulpo

    X.E.-2

    a N

    XE-3

    BCo.x-1

    Cho.x-19

    12

    CMo.x-1

    12

    19

    1163

    8

    4 2714

    32

    LV.x-1

    DL-4

    DMN.a-2

    DMN.x-1

    33

    DM.x-2

    6

    8

    LDM.x-2

    ZP.x-1

    SG-1

    LDMS.x-1

    DL-3

    DL-1

    9

    7

    5

    31

    30

    DM.x-3

    2925

    24

    2322

    21

    20

    19

    18 171615

    13

    12

    11

    10

    DM.x-1

    3 2

    CNo.x-1

    CF.x-1

    DMN.a-3

    EE

    FV.x-1FV.e-2

    10

    94 71213

    15

    5 6

    11

    C H I L E

    ARGENTINA

    PROVEN OIL

    PROBABLE OIL

    PROVEN GAS

    PROBABLE GAS

    PROSPECTS

    LEADS

    ATLA

    NTIC

    OCEAN

    PACIF

    IC O

    CEAN

    LOCATION MAP

    10 km

    5

    LAGUNA DEL MOSQUITO

    LEAD

    SOUTHERN FLANKLEAD

    CAÑADON FRAILE SURLEADS

    CAÑADON FRAILELEAD

    EASTERN FLANKPROSPECTS

    4

    3

    2

    1

    6

    7

    8

    9

    10

    CAÑADON LUCKLEADZANJA DINERO

    PROSPECT

    DOS LAGUNASLEAD

    11

    12

    13CAMPO LEANDROPROSPECT

  • 17

    1530 ms (P90) = 5.15 km2

    1515 ms (P10) = 1.9 km2

    CL x-1

    Objective : Springhill FormationTD: 1890 m

    Top

    Springhill

    CL x-13.2 km

    NESW

    Del Mosquito Block: Campo Leandro Exploration Well

    OIL CASERESERVESUnrisked VolumesMean: 4 MMBBLP90: 6 MMBBL

    GAS CASERESERVESUnrisked VolumesMean: 18 BCFP90: 32 BCF

  • 18

    Fell Block - Chile

    Del Mosquito - Argentina

    Work Programme 2007-2008

    2007-2008 Period:•Drilling 30 new wells with (3) active rigs•CAPEX of US$ 100 Million (Funded by cash, IFC loan, revenues and Methanex gas pre-sale)

    Risk-balanced full cycle programme: production, development and exploration projects

    Year (US$ MM) 2007 2008

    Workovers 0.2 0.6

    Seismic surveys 0.1

    Development Drilling 1 1.8

    Explo.Drillings + App. + Dev. 2.5 2.1

    Facilities 0.4 2.2

    TOTAL Investments 4.2 6.7

    Year (US$ MM) 2007 2008

    Workovers 4.9 4

    Seismic surveys 550km2/ 9.1

    Development Drilling 9.5 26

    Explo.Drillings + App. + Dev. 7.2 20

    Facilities 7.7 8.9

    TOTAL Investments 38.3 59.4

  • 19

    Methanex Strategic Alliance

    • Original MOU Agreement signed by both parties in 1Q07 with final execution targeted for execution in 4Q07 (Principal parts of the agreement have been put into effect)

    • MOU involves 4 main components:

    – Long term (10 years) gas supply contract (Basic terms agreed 1Q07)

    – New gas price formula resulting in more advantageous pricing of gas for GEOPARK and a volume bonus directly linked to volumes above 18 mmcfd. New price also positively impacts reserves (Basic terms agreed 1Q07 and put in effect 2Q07)

    – Gas Pre-Sale Agreement: US$ 40 million of gas to be sold in advance (Basic terms agreed 3Q07 with expected disbursement 4Q07)

    – Strategic partnership to acquire new blocks for gas exploration in Chile (Basic terms agreed 3Q07 with first bidding planned for 4Q07)

    • The Methanex Agreement substantially de-risks exploration for gas on the Fell Block and financially underpins GEOPARK’s medium term exploration and development activities

  • 20

    Business Development: GEOPARK’s Platform for Growth

    • GEOPARK is well positioned to become a consolidator in the Southern Cone

    – Experienced technical team – and a large in house capability to:

    – Extract maximum value from existing assets

    – Take advantage of external opportunities as they arise

    – Strong financial position

    – IFC backing

    – Methanex strategic alliance

    – Rising operating cash-flow

    • GEOPARK near term priority is to profitability grow production from the Fell Block in Chile

    • However, the Company remains alert to external opportunities

  • 21

    Business Development: Argentina

    100 km

    BLOQUEDEL MOSQUITO

    BLOQUEFELL

    S A N T A

    C R U Z

    C H I L E

    BLOQUETAPI AIKE

    BLOQUEEL TURBIO ESTE

    BLOQUEEL TURBIO

    • 3 Bids by Geopark

    • El Turbio Este• El Turbio• Tapi Aike

    • Qualified through all bidding rounds. (Onlyoil and gas operator to do so.)

    • Large blocks with attractive upside potentialand adjacent to producing fields

    • Currently waiting for results

    Santa Cruz Province

  • 22

    Business Development: ChileMagallanes Region

    • Formed a consortium of Methanex, Wintershall and GEOPARK to participate in new block tender in Chile

    • Complementary focus, strengths and abilities

    • Consortium currently evaluating blocks, led by GEOPARK technical evaluation

    • Bids due October 10, 2007

    • GEOPARK is currently the only private-sector upstream operator and producer in Chile

    Coirón

    Lenga

    Springhill PlatformSlope

    Rusfin

    Otway

    Tranquilo

    Lago Mercedes

    Folded Belt

    MarazziRío Hondo

    Chañarcillo

    Arenal Intracampos

    Brótula

    Caupolicán

    Bahía Inútil

    Porvenir

    Hinge line3000 Mts

    Basin Axis7000 Mts 5000 Mts

    Lago Blanco

    IslaMagdalena

    Dorado-Riquelme

    FELL

    Coirón

    Lenga

    Springhill PlatformSlope

    Rusfin

    Otway

    Tranquilo

    Lago Mercedes

    Folded Belt

    MarazziRío Hondo

    Chañarcillo

    Arenal Intracampos

    Brótula

    Caupolicán

    Bahía Inútil

    Porvenir

    Hinge line3000 Mts

    Basin Axis7000 Mts 5000 Mts

    Lago Blanco

    IslaMagdalena

    Dorado-Riquelme

    FELL

  • 23

    Summary & Conclusions

    • Rig related delays will not impact the Company’s exit production objective of 4000 boepd for 2007

    • An active 30 well drilling programme should see production double in 2008

    • The drilling inventory has been substantially increased as a result of technical work undertaken in the first 9 months of 2007

    • Results from seismic, workovers and drilling are expected to have positive implications for year-end reserves position

    • GEOPARK has all the ingredients in place to deliver a protracted period of growth in value for shareholders in the foreseeable future

  • 24

    Creating Value and Giving Back

    Safety, Prosperity, Opportunity, Community, Harmony

    Long term success in creating value will be enhanced and measured by our collective achievement in each of these areas.

    • Safety – Creating a safe and organized workplace ensuring that everyone returns home from work everyday without injury

    • Prosperity – Performing with effort, quality and beyond our commitments to continuously build market value. Only a financially healthy company can provide benefits for others

    • Opportunity – Providing the opportunity for employees to grow professionally, contribute and share in the success of the company

    • Community – Respecting and protecting the region, laws, customs and people where we work – and creating real and sustainable opportunities and benefits for the local communities

    • Harmony - Leaving the environment in the same or better natural condition than when it was encountered

  • 25

    Company Directory

    Nominated Advisor & Broker Oriel Securities Limited

    125 Wood Street London EC2V 7AN, 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

    3 More London Riverside London SE1 2AQ, United Kingdom

    www.nortonrose.com

    Auditors Grant Thornton UK LLP

    Grant Thornton House Melton Street London NW1 2EP, United Kingdom

    www.grant-thornton.co.uk

    Web Page: www.geo-park.com E-mail: [email protected]

    Main Office GEOPARK HOLDINGS LIMITED

    Florida 981, 4th floor 1005 Buenos Aires

    Argentina Tel.: 54 11 4312 9400