News

October 26, 2009

GeoPark Holdings Makes It Six Out Of Six In Chile And Eyes Chevron Assets In Argentina

Shares in GEOPARK Holdings have risen by more than a third cent this year as the AIM firm continues to maintain a 100 per cent strike rate on its 100 per cent owned Fell Block in Chile. There was another success last week when the Yagan Norte-1 well, the sixth consecutive discovery of 2009, flowed 610 barrels per day from a ten metre interval in the non-conventional Tobifera formation. Shares in the company gained 6.9 per cent to 310 pence per share on news of the latest drilling success.

The Tobifera is a new reservoir for GEOPARK on the Fell Block and opens up a potential new exploration play on the block. The Yagan Norte-1 well also had oil shows in the traditional Springhill formation, above the Tobifera, which may be tested later. The well has already been put on production, making an immediate positive impact on production, revenues and reserves.

Those numbers are already looking strong for 2009.  Over the first half of the year, the company...