<SEC-DOCUMENT>0000950103-16-011805.txt : 20160310
<SEC-HEADER>0000950103-16-011805.hdr.sgml : 20160310
<ACCEPTANCE-DATETIME>20160310171827
ACCESSION NUMBER:		0000950103-16-011805
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160310
FILED AS OF DATE:		20160310
DATE AS OF CHANGE:		20160310

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GeoPark Ltd
		CENTRAL INDEX KEY:			0001464591
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36298
		FILM NUMBER:		161498636

	BUSINESS ADDRESS:	
		STREET 1:		NUESTRA SENORA DE LOS ANGELES 179
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO
		STATE:			F3
		ZIP:			00000
		BUSINESS PHONE:		562-2242-9600

	MAIL ADDRESS:	
		STREET 1:		NUESTRA SENORA DE LOS ANGELES 179
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO
		STATE:			F3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GeoPark Holdings Ltd
		DATE OF NAME CHANGE:	20090520
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp64180_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K<BR>
</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt"><B>REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of March 2016</P>

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<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 21%; color: black">

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-36298</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 28pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GeoPark Limited</B></P>

<P STYLE="font: 28pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Nuestra Se&ntilde;ora de los &Aacute;ngeles
179</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Las Condes, Santiago, Chile </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%; border-collapse: collapse">
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    <TD STYLE="width: 29%; font-size: 10pt; text-decoration: underline; text-align: center"><font style="font-size: 10pt">Form 20-F<u> </u></font></td>
    <TD STYLE="width: 14%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X</P>
</td>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center">&nbsp;</td>
    <TD STYLE="width: 28%; font-size: 10pt; text-decoration: underline; text-align: center"><font style="font-size: 10pt">Form 40-F<u> </u></font></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid; width: 14%">&nbsp;</td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(1):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%; border-collapse: collapse">
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    <TD STYLE="width: 29%; font-size: 10pt; text-decoration: underline; text-align: center"><font style="font-size: 10pt">Yes<u> </u></font></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid; width: 14%">&nbsp;</td>
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    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">No</font></td>
    <TD STYLE="width: 14%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(7):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%; border-collapse: collapse">
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    <TD STYLE="width: 29%; font-size: 10pt; text-decoration: underline; text-align: center"><font style="font-size: 10pt">Yes<u> </u></font></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid; width: 14%">&nbsp;</td>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center">&nbsp;</td>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">No</font></td>
    <TD STYLE="width: 14%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X</P>
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</table><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GEOPARK LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <td style="width: 10%; font-size: 10pt; text-align: center"><font style="font-size: 10pt"><b>ITEM</b></font></td>
    <td style="width: 90%; font-size: 10pt; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">1.</font></td>
    <td style="font-size: 10pt"><font style="font-size: 10pt">Press Release dated March 10, 2016 titled &ldquo;GeoPark reports results for the fourth quarter and year ended December 31, 2015&rdquo;</font></td></tr>
</table>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 76.5pt; text-align: center; text-indent: -76.5pt"><B><IMG SRC="image_001.jpg" ALT="" STYLE="height: 83.7pt; width: 172.6pt">&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 76.5pt; text-align: center; text-indent: -76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>FOR IMMEDIATE DISTRIBUTION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>GEOPARK REPORTS RESULTS FOR THE FOURTH
QUARTER AND FULL YEAR</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>ENDED DECEMBER 31, 2015</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>SUCCESSFULLY NAVIGATING A STABLE GROWTH
PATH FORWARD</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Santiago, Chile &ndash; March 10, 2016 -
GeoPark Limited (&ldquo;GeoPark&rdquo; or the &ldquo;Company&rdquo;) (NYSE: &ldquo;GPRK&rdquo;), a leading Latin American oil and
gas explorer, operator and consolidator with operations and growth platforms in Colombia, Chile, Brazil, Argentina, and Peru<A HREF="#note_ftn1" NAME="note_ftnref1" STYLE="font-size: 65%; vertical-align: 35%">1</A>
reports its consolidated financial results for the three-month period ended December 31, 2015 (&ldquo;Fourth Quarter&rdquo; or
&ldquo;4Q2015&rdquo;) and its audited annual results for 2015.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">A conference call to discuss 4Q2015 results
will be held on March 11, 2016 at 10 am Eastern Standard Time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">All figures are expressed in US Dollars
and growth comparisons refer to the same period of the prior year, except when specified.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #C00000"><B>FOURTH QUARTER AND FULL
YEAR 2015 HIGHLIGHTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"><B>Operational: </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Record oil and gas production in 4Q2015:</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Consolidated production up 15% to 23,062 boepd (up 20% compared to 3Q2015)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Oil production up 19% to 17,123 bopd (up 16% compared to 3Q2015)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Gas production up 6% to 35.6 mmcfpd (up 31% compared to 3Q2015)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Average 2015 consolidated production of 20,367 boepd</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Colombian Llanos 34 Block (GeoPark operated with 45% WI) gross average production up 59% to 32,000
bopd (up 21% compared to 3Q2015)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Record oil and gas reserves in 2015:</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Total net proven developed producing reserves<A HREF="#note_ftn2" NAME="note_ftnref2" STYLE="font-size: 65%; vertical-align: 35%">2</A>
(&ldquo;PDP&rdquo;) up 25% to 17.3 mmboe with a PDP reserve replacement index (&ldquo;RRI&rdquo;) of 150%</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Total net proven reserves<SUP>2</SUP> (&ldquo;P1&rdquo;) increased by 19% to 52.3 mmboe and, including
Peru, to 71.1 mmboe with a RRI of 211% and a P1 reserve life index (&ldquo;RLI&rdquo;) of 9.6 years</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Total net proven and probable reserves<SUP>2</SUP> (&ldquo;2P&rdquo;) up 3% to 95.1 mmboe and,
including Peru, to 125.3 mmboe with a RRI of 141% and a 2P RLI of 16.9 years</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Total certified P1 and 2P reserves net
present value after tax (&ldquo;NPV10&rdquo;) of $891 million and $1.65 billion, respectively</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Total audited exploration resources of
0.8-1.5 billion boe in proven hydrocarbon basins</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">____________________________</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><SUP>1</SUP> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Transaction
executed with Petroperu on October 1, 2014 with final closing subject to Peru Government approval</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><SUP>2</SUP> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Refers
to PRMS reserves certified by D&amp;M and including our pending transaction in Peru, unless otherwise specified</FONT></P>



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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>Financial:</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Strong cash availability and liquidity
position with up to $230 million in available funds, consisting of $82.7 million of cash (at the end of 4Q2015), up to $100 million
from an offtake prepayment agreement with Trafigura and approximately $37 million in uncommitted credit lines</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Reduced revenues, Adjusted EBITDA and earnings
from a 47% decline in realized oil and gas prices and an increase in non-cash impairments:</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Consolidated revenues down 44% to $45.4 million / Full year 2015 revenues of $209.7 million</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Adjusted EBITDA down 61% to $10.6 million / Full year 2015 Adjusted EBITDA of $73.8 million</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Net loss of $201.5 million / Full year 2015 net loss of $284.6 million (impacted by $179.7 million
of impairments and write-offs that represent non-cash accounting adjustments)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Effective and ongoing cost savings and
capital investment reductions:</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Capital expenditures of $6.6 million / Full year 2015 capital expenditures of $48.8 million representing
a 79% reduction from 2014</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Production and Operating Costs reduction in 4Q2015 of 33% / Full Year reduction of 34%</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Administrative Expenses (G&amp;A) reduction in 4Q2015 of 7% / Full Year reduction of 18%</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">Cash Costs per boe reduction in 4Q2015 of 38% / Full Year reduction of 38%</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>Strategic/New Business:</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Entered into offtake and up to $100 million
prepayment agreement with Trafigura to improve crude oil sale prices and netbacks, reduce transportation costs and operational
risks, and strengthen GeoPark&rsquo;s balance sheet</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">As part of long term effort to build an
upstream platform in Mexico, GeoPark participated with its new strategic partner, Grupo Alfa, in the Mexican Bid Round 1.3 for
onshore projects, with no blocks awarded</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">James
F. Park, Chief Executive Officer of GeoPark, said:</FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&quot;During
a turbulent year when oil prices continued to plummet, our strong and growing operational results during the fourth quarter, and
throughout the year, demonstrated the underlying quality of GeoPark's assets, our agility and financial discipline, and the focus
and experience of our team. This is the backbone that has allowed GeoPark to grow from scratch, meet and overcome challenges, and
achieve a reliable ten-year performance track record. It is the mix that is successfully carrying us through the current industry
downturn and positioning us for accelerated growth during any oil price strengthening. We have used the downturn to beat-down costs,
wring out inefficiencies, improve the organization, introduce innovations, increase flexibility, re-prioritize the portfolio, and
permanently adapt to thrive in a world of lower oil prices. Our risk-balanced, multi-country asset platform, and the reputation
of our team in the region, also give us first-mover advantage in the hunt for and acquisition of new attractively-valued projects.
We are excited and motivated by the enduring business we have built, the big opportunities in our industry today, and the important
year ahead.&quot;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>OIL AND GAS RESERVES
UPDATE</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Oil and
Gas Reserves: </B></FONT>GeoPark consolidated 2P reserves (in Colombia, Chile and Brazil) increased by 3% in 2015 to 95.1 mmboe
compared to 2014 and, including Peru, to 125.3 mmboe. The increase in reserves mainly results from new discoveries in the Llanos
34 Block (GeoPark operated with 45% WI) in Colombia, partially offset by 2015 production and reductions of reserves in Chile as
a result of low oil prices and technical revisions. Total consolidated certified 2P and 3P reserves NPV10 in Colombia, Chile, Brazil
and Peru, amounted to $1.65 billion and $2.9 billion, respectively.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">2P RLI in Colombia, Chile and Brazil equaled
12.9 years and, including Peru, equaled 16.9 years. For each boe produced in 2015, 1.4 boe of 2P reserves were added with a 2P
RRI of 141%.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">P1 RLI in Colombia, Chile and Brazil equaled
7.1 years and, including Peru, 9.6 years. For each boe produced in 2015, 2.1 boe of P1 reserves were added with a P1 RRI of 211%.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">PDP reserves in Colombia, Chile and Brazil
increased 25% (3.5 mmboe) to 17.3 mmboe. For each boe produced in 2015, 1.5 boe of PDP reserves were added with a PDP RRI of 150%.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>CONSOLIDATED OPERATING
PERFORMANCE</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The table below sets forth key performance
indicators for 4Q2015 compared to those of 4Q2014:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 90%; border-collapse: collapse">
<tr style="background-color: white">
    <td style="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Key Indicators </b></font></td>
    <td style="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>4Q2015</b></font></td>
    <td style="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4Q2014</b></font></td>
    <td colspan="2" style="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>% Chg.</b></font></td></tr>
<tr style="background-color: white">
    <TD STYLE="width: 56%; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Oil production<sup>a</sup> (bopd) </font></td>
    <TD STYLE="width: 11%; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17,123</font></td>
    <TD STYLE="width: 17%; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14,364</font></td>
    <TD STYLE="width: 2%; text-align: right">&nbsp;</td>
    <TD STYLE="width: 14%; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gas production (mcfpd) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">35,636</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33,718</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6%</font></td></tr>
<tr style="background-color: white">
    <td style="border-bottom: Black 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average net production (boepd) </font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23,062</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19,984</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brent Oil Price ($ per bbl)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">45.0</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">77.0</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-42%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Combined price ($ per boe) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23.5</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">44.3</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-47%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify; text-indent: 63pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8315;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil ($ per bbl)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">55.2</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-57%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify; text-indent: 63pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8315;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gas ($ per mcf)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.3</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.4</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-20%</font></td></tr>
<tr>
    <td style="background-color: white; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Oil Revenues ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33.1</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">68.3</font></td>
    <td style="background-color: white; text-align: right">&nbsp;</td>
    <td style="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-52%</font></td></tr>
<tr>
    <td style="background-color: white; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Gas Revenues ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.3</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.5</font></td>
    <td style="background-color: white; text-align: right">&nbsp;</td>
    <td style="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-2%</font></td></tr>
<tr>
    <td style="background-color: white; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Revenues ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">45.4</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">80.8</font></td>
    <td style="background-color: white; text-align: right">&nbsp;</td>
    <td style="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-44%</font></td></tr>
<tr>
    <td style="background-color: white; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Production &amp; Operating Costs<sup>b</sup> ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-22.2</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-33.0</font></td>
    <td style="background-color: white; text-align: right">&nbsp;</td>
    <td style="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-33%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">G&amp;G, G&amp;A<sup>c</sup></font> <font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">and Selling Costs ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-15.8</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-17.7</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-11%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA ($ million) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">27.4</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-61%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA per boe ($) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.5</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15.0</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-63%</font></td></tr>
<tr>
    <td style="background-color: white; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Operating Netback per boe ($) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.2</font></td>
    <td style="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">24.3</font></td>
    <td style="background-color: white; text-align: right">&nbsp;</td>
    <td style="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-54%</font></td></tr>
<tr style="background-color: white">
    <td style="border-bottom: Black 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Profit (loss) for the period ($ million)</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-201.5</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-33.7</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</font></td></tr>
<tr style="background-color: white">
    <td style="border-bottom: Black 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Capital Expenditures during quarter ($ million)</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.6</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">68.8</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-90%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Cash Position at year-end ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">82.7</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">127.7</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-35%</font></td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Short-Term Debt at year-end ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">35.4</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">27.2</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30%</font></td></tr>
<tr style="background-color: white">
    <td style="border-bottom: Black 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Long-Term Debt at year-end ($ million)</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">343.2</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">342.4</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0%</font></td></tr>
</table>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 21.25pt">a)</TD><TD STYLE="text-align: justify; padding-right: 42.45pt">Includes royalties paid in kind in Colombia for 776 bopd approximately
in 4Q2015. No royalties were paid in kind in Chile and Brazil operations.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 21.25pt">b)</TD><TD STYLE="text-align: justify; padding-right: 42.45pt">Production and Operating costs include operating costs and royalties paid
in cash.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 21.25pt">c)</TD><TD STYLE="text-align: justify; padding-right: 42.45pt">G&amp;A includes $3.2 million of (non-cash) share based payments that are
excluded from Adjusted EBITDA calculation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Production:
</B></FONT>Consolidated production increased by 15% reaching a record production of 23,062 boepd in 4Q2015, compared to 19,984
boepd in 4Q2014.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Colombia: Average net oil and gas production
in Colombia increased by 34% to 15,510 boepd in 4Q2015 mainly resulting from new oil field discoveries, development drilling and
reengineering of well completions and operations</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Chile: Average net oil and gas production
in Chile decreased by 16% to 4,006 boepd in 4Q2015 (up 25% compared to 3Q2015). The decrease consisted of 39% lower oil production
and 13% lower gas production and was mainly the result of natural decline in base production and no drilling activity during 2015.
Gas production was increased by 56% compared to 3Q2015 as a result of the put on production of the Ache gas field at the end of
3Q2015 </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Brazil: Average net oil and gas production
increased by 1% to 3,546 boepd in 4Q2015, primarily attributed to the start-up of the new Manati gas field compression plant to
stabilize production and develop the remaining Manati gas reserves (non-operated with 10% WI) </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Reference
and Realized Oil Prices: </B></FONT>Consolidated realized oil sales price averaged $23.6 per barrel in 4Q2015, representing a $21.4
discount from the average Brent crude prices of $45 per barrel. Commercial efforts are underway to improve realized oil prices
and reduce discounts, including negotiations in Chile and the new Trafigura offtake agreement in Colombia.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Colombia: Realized oil price was $22.2
per barrel. Vasconia, the Company&rsquo;s reference price in Colombia, averaged $38 per barrel during 4Q2015. Discounts include
commercial costs related to oil quality, marketing fees and transportation costs (approximately $16 per barrel) related to sales
made at wellhead </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Chile: Realized oil price was $33.5 per
barrel in 4Q2015 (representing a $11.5 per barrel discount from Brent)</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The table below sets forth break-down of
reference and net realized oil prices in Colombia and Chile in 4Q2015:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 70%; border-collapse: collapse">
<tr>
    <TD STYLE="width: 50%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; background-color: white">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><b>Realized Oil Prices 4Q2015</b></P>

        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">($ per bbl)</P>
</td>
    <TD STYLE="width: 28%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Colombia</b></font></td>
    <TD STYLE="width: 19%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Chile</b></font></td>
    <TD STYLE="width: 3%">&nbsp;</td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Brent Oil Price</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">45.0</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">45.0</font></td>
    <td style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Vasconia Differential </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(7.0)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</font></td>
    <td style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td style="border-bottom: Black 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Commercial Discounts </font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(15.8)</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(11.5)</font></td>
    <td style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td style="border-bottom: Black 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Realized Oil Price&nbsp;&nbsp;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">22.2</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33.5</font></td>
    <td style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td style="border-bottom: Black 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Weight on Sales Mix</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">89%</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11%</font></td>
    <td style="text-align: right">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Net Revenues:
</B></FONT>Consolidated net revenues decreased by 44% to $45.4 million in 4Q2015, compared to $80.8 million in 4Q2014, mainly driven
by lower oil and gas prices.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><U>Consolidated Oil Revenues</U>: Consolidated
oil revenues decreased by 52% to $33.1 million in 4Q2015 mainly explained by a 57% decrease in realized oil prices. Oil revenues
represent 73% of total net revenues as compared to 85% in 4Q2014.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Colombia: In 4Q2015, oil revenues decreased
by 46% to $27.7 million mainly due to lower oil prices. Realized oil prices decreased by 57% to $22.2 per barrel and oil deliveries
increased by 16% to 1.3 million barrels. The decrease in realized prices was higher than the decrease in reference prices due to
more volumes sold at well-head. During 2015 the Company made effective a change in sales mix: 77% of sales volumes were made at
the well-head, compared to approximately 45% in 4Q2014. Well-head sales imply lower realized prices but also lower selling expense</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify">Colombian earn-out payments
(deducted from Colombian oil revenues) decreased by 82% to $1.3 million in 4Q2015, compared to $7.2 million in 4Q2014, mainly due
to the decline in oil prices</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Chile: In 4Q2015, oil revenues decreased
by 69% to $5.1 million due to lower production and lower prices. Realized oil prices decreased 53% to $33.5 per barrel in line
with decreased Brent prices. Deliveries decreased by 37% to 0.15 million barrels due to lower production resulting from the natural
decline of the fields and no new wells drilled during the year</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><U>Consolidated Gas Revenues</U>: Consolidated
gas revenues remained stable and amounted to $12.3 million in 4Q2015 compared to $12.5 million in 4Q2014.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Chile: In 4Q2015, gas revenues increased
by 4% to $5.0 million mainly due to increased production, partially offset by lower prices. Gas deliveries increased by 11% and
amounted to 1,092 mmcf (0.18 mmboe) mainly resulting from the start-up of the Ache gas field. Gas prices decreased by 6% to $4.6
per mcf ($27.6 per boe) in 4Q2015, resulting from lower international methanol prices that affected the gas price for a portion
of the Fell Block gas production </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Brazil: In 4Q2015, gas revenues slightly
decreased by 4% to $7.3 million mainly due to lower prices. Gas prices, net of taxes, decreased to $4.1 per mcf ($24.6 per boe),
largely generated by the depreciation of the local currency. Gas deliveries slightly decreased by 3% and amounted to 1,800 mmcf
(0.3 mmboe) </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Production
and operating costs: </B></FONT>Consolidated production and operating costs decreased by 33% to $22.2 million in 4Q2015, representing
savings of $7.1 per barrel.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><U>Consolidated operating costs</U>: Consolidated
operating costs (excluding royalties) decreased by 31% to $19.5 million in 4Q2015, compared to $28.4 million in 4Q2014, due to
cost reduction initiatives and the impact of the depreciation of the local currencies against the US Dollar, even in consideration
of the 15% increase in oil and gas production during the quarter. These factors resulted in reduced well maintenance, consumables,
transportation, equipment rental, field camp, staff and other operating costs.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Colombia: Operating costs decreased by
39% to $11.8 million in 4Q2015. Operating costs per boe decreased by 48% to $9.0 per boe mainly due to cost reduction initiatives,
the impact of the depreciation of the Colombian Peso and improved fixed cost absorption from increased production</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Chile: Operating costs decreased by 25%
to $5.9 million in 4Q2015. Operating costs per boe decreased by 10% to $18.5 per boe due to cost reduction initiatives and the
impact of the depreciation of the Chilean Peso, partially offset by the impact on fixed costs from lower production </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Brazil: As expected, operating costs increased
by 11% to $1.7 million mainly due to the impact of higher operating expenses resulting from the start-up of the compression plant
in the Manati Field, partially offset by the depreciation of the Brazilian Real. Operating costs per boe increased by 15% to $5.7
per boe </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><U>Consolidated Royalties</U>: Consolidated
royalties paid in cash (reported in production and operating costs) amounted to $2.7 million in 4Q2015, compared to $4.6 million
in 4Q2014, representing 5.9% of total net revenues in 4Q2015 and 5.7% in 4Q2014. The increase in royalties, as a percentage of
sales, is mainly due to the Tua and Tigana fields in the Llanos 34 Block (GeoPark operated with 45% WI) in Colombia becoming subject
to higher royalties in 2015 after surpassing the production threshold of 5 million barrels of oil.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Selling
Expenses:</B></FONT> Consolidated selling expenses decreased by 50% to $1.4 million in 4Q2015 compared to $2.8 million in 4Q2014,
mainly as the result of lower selling expenses in Colombia and certain reclassifications in the Brazilian Operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Colombia: Selling expenses decreased by
81% to $1.0 million in 4Q2015 resulting from lower transportation costs per boe due to a change in the commercialization mix increasing
sales at well-head in 4Q2015, compared to 4Q2014</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Chile: Selling expenses decreased by 28%
to $0.3 million in 4Q2015 resulting from lower sales and production in 4Q2015, compared to 4Q2014</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Administrative
Expenses (G&amp;A): </B></FONT>Consolidated administrative expenses decreased by 7% to $10.2 million in 4Q2015 compared to $11.0
million in 4Q2014 mainly due to continuing financial discipline and cost reduction initiatives impacting consultant fees, office
expenses, directors fees, share based payments and</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">other G&amp;A costs. The G&amp;A cost reduction
was achieved despite new start-up costs related to the Company&rsquo;s operations in Peru and lower overhead collected from joint
venture partners due to lower capital expenditure.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Adjusted
EBITDA: </B></FONT>Consolidated Adjusted EBITDA<A HREF="#note_ftn3" NAME="note_ftnref3" STYLE="font-size: 65%; vertical-align: 35%">3</A>
decreased by 61% to $10.6 million in 4Q2015 compared to $27.4 million in 4Q2014, mainly caused by the 44% decrease in revenues
resulting from lower international oil prices, which was partially offset by a 35% reduction in cash costs (including production
and operating costs, G&amp;A and selling expenses).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Adjusted EBITDA per boe decreased by 63%
to $5.5 per boe, in 4Q2015, compared to $15.0 per boe in 4Q2014.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Colombia: Adjusted EBITDA decreased 56%
to $9.2 million in 4Q2015 compared to $20.7 million in 4Q2014, mainly due to the decline in realized oil prices and increased royalties,
partially offset by lower operating and selling costs. Adjusted EBITDA per boe decreased by 62% to $7.0 per boe in 4Q2015, mainly
due to lower oil prices, partially offset by lower operating costs and selling expenses per boe resulting from increased efficiency
and the depreciation of the Colombian Peso</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Chile: Adjusted EBITDA was $0.9 million
in 4Q2015, compared to $3.0 million in 4Q2014, mainly due to lower production and the impact of lower oil and gas prices, partially
offset by lower operating and production costs and G&amp;A expenses. Adjusted EBITDA per boe of $2.6, as compared to $7.4 in 4Q2014</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Brazil: Adjusted EBITDA decreased 44% to
$4.1 million in 4Q2015 compared to $7.3 million in 4Q2014, mainly due to lower revenues resulting from lower realized prices due
to the depreciation of the Brazilian Real against the US Dollar and higher operating costs related to costs associated with the
compression plant that started in 3Q2015. Adjusted EBITDA per boe decreased by 42% to $13.6 in 4Q2015 compared to $23.5 in 4Q2014</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Peru, Argentina and Corporate: Adjusted
EBITDA amounted to $3.6 million loss in 4Q2015 compared to $3.5 million loss in 4Q2014</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Depreciation:
</B></FONT>Consolidated depreciation charges increased by 13% to $31.2 million in 4Q2015, compared to $27.7 million in 4Q2014,
mainly due to higher production during the quarter and higher depreciation costs per boe in Chile and stable depreciation costs
per boe in Colombia and Brazil.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Write-off
of Unsuccessful Efforts: </B></FONT>Consolidated write-off of unsuccessful effort charges amounted to $26.4 million in 4Q2015,
compared to $21.8 million in 4Q2014. Charges expensed in 4Q2015 include the write-off of capitalized seismic studies and two exploratory
wells (drilled in previous years) in Tierra del Fuego Blocks in Chile.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Impairment</B></FONT><SUP>
</SUP><FONT STYLE="color: #C00000"><B>of Non-Financial Assets:</B></FONT> Consolidated non-cash impairment of non-financial assets
amounted to $149.6 million in 4Q2015 ($104.5 million recorded in Chile and $45.1 million in Colombia) compared to $9.4 million
in 4Q2014 (100% in Colombia), resulting from the continuing low oil price environment. A non-cash impairment loss is recognized
for the amount by which an asset&rsquo;s carrying amount exceeds its recoverable amount.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">____________________________</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><SUP>3</SUP><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">
<FONT STYLE="font-size: 8pt">See &ldquo;Reconciliation of Adjusted EBITDA to Profit (Loss) Before Income Tax and Adjusted EBITDA
per Boe&rdquo; included in this press release.</FONT></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>CONSOLIDATED NON-OPERATING
RESULTS AND PROFIT FOR THE PERIOD</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Financial
Costs: </B></FONT>Net financial costs increased by 26% to $9.6 million in 4Q2015, compared to $7.6 million in 4Q2014 mainly from
the impact of lower capitalized interest costs and the increase of other financial costs.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Foreign
Exchange Gain/Loss: </B></FONT>Net foreign exchange charges amounted to a $10.9&nbsp;million gain in 4Q2015 compared to $11.5&nbsp;million
loss in 4Q2014, mainly related to the impact of the appreciation and depreciation, respectively, of the Brazilian Real over US
Dollar-denominated net debt incurred at the local subsidiary level, where the functional currency is the Brazilian Real.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Income Tax
Benefit/Loss: </B></FONT>Income tax amounted to a $2.0&nbsp;million loss in 4Q2015 as compared to a $17.8 million gain in 4Q2014.
Income taxes in 4Q2015 were negatively affected by non-recoverable tax loss carry-forwards amounting to $15.5 million with an impact
on Chilean operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Profit/Loss:
</B></FONT>Losses for the period amounted to $201.5&nbsp;million in 4Q2015 compared to $33.7 million in 4Q2014, mainly due to lower
revenues resulting from lower realized prices and higher non-cash impairment of non-financial assets, partially offset by lower
Production and Operating costs, G&amp;A and Selling expenses.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>BALANCE SHEET </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Cash and
Cash Equivalents: </B></FONT>Cash and cash equivalents totaled $82.7 million as of December 31, 2015. Year-end 2014 cash and cash
equivalents amounted to $127.7 million, the difference primarily being (i) cash used in investing activities during 2015 amounting
to $48.8 million and (ii) $18.0 million of net funds used in financing activities, and (iii) previous two components partially
offset by cash generation from operating activities that amounted to $25.9 million.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Total Assets:</B></FONT>
Total assets amounted to $703.8 million as of December 31, 2015 compared to $1,039 million as of December 31, 2014. The decrease
is mainly due to lower PP&amp;E assets derived from non-cash impairment charges and write-offs of non-financial assets and depreciation
charges during 2015 as well as lower cash and cash equivalents as explained in the paragraphs above.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Financial
Debt:</B></FONT> Total financial debt (net of debt issuance costs) amounted to $378.7 million, including mainly the $300 million
2020 Bond and the credit facility denominated in Reais in Brazil for the acquisition of an interest in the Brazilian Manati Field
amounting to $70.4 million.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #C00000"><B>Equity:
</B></FONT>Equity reached $200.2 million and included non-controlling interests of $53.5 million related to LG International&rsquo;s
participation in the Chilean and Colombian operations. (LG International Corp., the Korean conglomerate, holds a 20% equity interest
in GeoPark&rsquo;s Colombian operations, a 20% equity interest in the Fell Block and a 31% equity interest in the Tierra del Fuego
blocks in Chile). Equity as of December 31, 2015 decreased by $278.9 million since December 31, 2014 mainly because of the $284.6
million loss in the year ended December 31, 2015, partially offset by share-based payment charges amounting to $8.2 million.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>FINANCIAL RATIOS (*)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white; border-collapse: collapse">
<tr>
    <td colspan="3" style="border-bottom: #C00000 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Amounts in $ million</b></font></td>
    <td colspan="2" style="border-bottom: #C00000 1pt solid; text-align: justify">&nbsp;</td>
    <td colspan="2" style="text-align: justify">&nbsp;</td></tr>
<tr>
    <td rowspan="2" style="border-bottom: #D9D9D9 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Year / Period</b></font></td>
    <td rowspan="2" style="border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Financial Debt</b></font></td>
    <td rowspan="2" style="border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Cash Position</b></font></td>
    <td rowspan="2" style="border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Gross Debt / LTM Adj. EBITDA</b></font></td>
    <td rowspan="2" style="border-bottom: #D9D9D9 1pt solid">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; color: #C00000"><b>Interest</b></P>

        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; color: #C00000"><b>Coverage</b></P>
</td>
    <td colspan="2" style="text-align: justify">&nbsp;</td></tr>
<tr>
    <td colspan="2" style="text-align: justify">&nbsp;</td></tr>
<tr>
    <td style="width: 17%; background-color: transparent; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">FY2014 (**)</font></td>
    <td style="width: 28%; background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">370.0</font></td>
    <td style="width: 19%; background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">127.7</font></td>
    <td style="width: 17%; background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1.7x</font></td>
    <td style="width: 17%; background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7.5x</font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td></tr>
<tr>
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1Q2015 </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">363.4</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">91.4</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1.9x</font></td>
    <td style="background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6.3x</font></td>
    <td style="text-align: justify">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2Q2015 </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">370.4</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">105.3</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2.6x</font></td>
    <td style="background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.7x</font></td>
    <td style="text-align: justify">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3Q2015 </font></td>
    <td style="background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">364.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">90.4</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.0x</font></td>
    <td style="background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2.9x</font></td>
    <td style="text-align: justify">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="border-bottom: Black 1pt solid; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">FY2015</font></td>
    <td style="border-bottom: Black 1pt solid; background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">378.7</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">82.7</font></td>
    <td style="border-bottom: Black 1pt solid; background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">5.1x</font></td>
    <td style="border-bottom: Black 1pt solid; background-color: transparent; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2.4x</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white"><BR>
(*)&#9;&nbsp;Based on trailing 12 months financial results. </FONT></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">(**)&#9;Considers
Adjusted EBITDA generated by the acquired interest in the Brazilian Manati Field only since 2Q2014.</FONT></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">GeoPark&rsquo;s consolidated financial <I>incurrence</I>
test covenants included in the 2020 Bond Indenture are:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">A leverage Ratio, defined as Gross Debt
to Adjusted EBITDA, lower than 2.5x from 2015 onwards; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">An interest Coverage Ratio, defined as
Adjusted EBITDA divided by Interest Expenses, above 3.5x. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">As stated in the table above, as of December
31, 2015 the Company&rsquo;s Leverage Ratio was above the 2.5 times threshold included in the 2020 Bond Indenture and in addition,
the Interest Coverage Ratio was below the 3.5 times threshold included in the 2020 Bond Indenture. These ratios were impacted by
the current low oil price environment. Failure to comply with the <I>incurrence</I> test ratios does not trigger by itself an event
of default. However, this situation may limit the Company&rsquo;s capacity to incur additional indebtedness, other than permitted
debt, as specified in the indenture governing the Notes. <I>Incurrence</I> covenants as opposed to <I>maintenance</I> covenants
must be tested by the Company before incurring additional debt or performing other specific corporate actions including but not
limited to dividend payments, restricted payments, and others.<FONT STYLE="background-color: white"> </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>OTHER NEWS / RECENT EVENTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>OFFTAKE AND $100 MILLION
PREPAYMENT AGREEMENT WITH TRAFIGURA&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In December 2015, GeoPark
entered into an offtake and prepayment agreement with Trafigura. The offtake agreement provides for GeoPark to sell and deliver
to Trafigura a portion of GeoPark&rsquo;s Colombian crude oil production and will benefit GeoPark by (i) improving crude oil sales
prices; (ii) improving operating netbacks by reducing transportation costs; (iii) simplifying logistics and reducing risks; and
(iv) improving working capital. Pricing will be determined at future spot market prices, net of transportation costs.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">As part of the transaction,
GeoPark and Trafigura have also entered into an agreement that provides GeoPark access to funding up to $100 million, subject to
applicable volumes corresponding to the terms of the agreement, in the form of prepaid future oil sales. The prepayment agreement
will provide GeoPark with immediately accessible liquidity that will further strengthen GeoPark&rsquo;s balance sheet and expand
existing cash and cash equivalents up to $182.7 million. GeoPark&rsquo;s 4Q2015 cash position was $82.7 million.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">As of the date of this
press release, GeoPark has not drawn any amounts for prepaid sales under the current agreement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000"><B>CONFERENCE CALL INFORMATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">GeoPark will host its Fourth Quarter 2015
Financial Results conference call and webcast on Friday, March 11, 2016, at 10:00 a.m. Eastern Standard Time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Chief Executive Officer, James F. Park,
Chief Financial Officer, Andr&eacute;s Ocampo, and Chief Operating Officer, Augusto Zubillaga, will discuss GeoPark's financial
results for 4Q2015, with a question and answer session immediately following.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Interested parties can access the conference
call by dialing the following number from outside the United States: +1 920-663-6208. From within the United States, interested
parties can access the call by dialing 866-547-1509 (Passcode: 60943298). To listen to the webcast, please visit the Investor
Support section of the Company&rsquo;s website (<FONT STYLE="color: Blue"><U>www.geo-park.com</U></FONT>).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 65%">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0pt; color: #C00000"><b>For further information
        please contact:</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0pt; color: #C00000"><B>&nbsp;</b></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0pt; color: #C00000">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #C00000"><b>INVESTORS:</b></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #C00000">&nbsp;</P></td>
    <td style="width: 35%">&nbsp;</td></tr>
</table>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 40%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Pablo Ducci &ndash; Director Capital Markets</font></td>
    <TD STYLE="width: 60%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">pducci@geo-park.com</font></td></tr>
<tr style="vertical-align: top">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Santiago, Chile</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">T: +562 2242 9600</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Dolores Santamarina &ndash; Investor Manager&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Buenos Aires, Argentina</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">T: +5411 4312 9400</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">dsantamarina@geo-park.com</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 65%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>MEDIA:</b></font></td>
    <td style="width: 35%">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</table>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 40%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Jared Levy &ndash; Sard Verbinnen &amp; Co</font></td>
    <TD STYLE="width: 60%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">jlevy@sardverb.com</font></td></tr>
<tr style="vertical-align: top">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">New York, USA</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">T: +1 (212) 687-8080</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Kelsey Markovich &ndash; Sard Verbinnen &amp; Co</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">New York, USA</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">T: +1 (212) 687-8080</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">kmarkovich@sardverb.com</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">GeoPark can be visited online at www.geo-park.com&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"><B>ANALYSIS INFORMATION BY BUSINESS SEGMENT </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 90%; border-collapse: collapse">
<tr style="background-color: white">
    <TD STYLE="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; width: 54%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Colombia</b></font></td>
    <TD STYLE="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right; width: 11%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>4Q2015</b></font></td>
    <TD STYLE="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right; width: 18%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4Q2014</b></font></td>
    <TD STYLE="width: 3%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right">&nbsp;</td>
    <TD STYLE="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right; width: 14%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>% Chg.</b></font></td></tr>
<tr>
    <TD STYLE="background-color: white"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Oil production (bopd) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">15,414</font></td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">11,550</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">33%</font></td></tr>
<tr>
    <TD STYLE="background-color: white"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Gas production (mcfpd) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">572</font></td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">390</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">37%</font></td></tr>
<tr>
    <TD STYLE="background-color: white"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Average net production (boepd) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">15,510</font></td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">11,615</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">34%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Oil price ($ per bbl) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">22.2</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">52.0</font></td>
    <TD NOWRAP>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-57%</font></td></tr>
<tr>
    <TD STYLE="background-color: white"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net oil Revenues ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.7</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">51.1</font></td>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-46%</font></td></tr>
<tr>
    <TD STYLE="background-color: white"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Production and Operating Costs* ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-13.4</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-22.1</font></td>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-39%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Adjusted EBITDA ($ million) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">9.2</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20.7</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-56%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Adjusted EBITDA per boe ($) </font><font style="font-size: 8pt; color: black">&nbsp;</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7.0</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">18.5</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-62%</font></td></tr>
<tr style="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Operating Netback per boe ($) </font><font style="font-size: 8pt; color: black">&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8.9</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">21.6</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-59%</font></td></tr>
</table>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 90%; border-collapse: collapse">
<tr style="background-color: white">
    <TD STYLE="width: 54%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Chile</b></font></td>
    <TD STYLE="width: 11%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>4Q2015</b></font></td>
    <TD STYLE="width: 18%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4Q2014</b></font></td>
    <TD STYLE="width: 3%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right">&nbsp;</td>
    <TD STYLE="width: 14%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>% Chg.</b></font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Oil production (bopd) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1,659</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,709</font></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-39%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gas production (mcfpd) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14,085</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12,492</font></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average net production (boepd) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4,006</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4,791</font></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-16%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Combined price ($ per boe) </font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30.3&nbsp;</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">52.9&nbsp;</font></td>
    <td nowrap>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-43%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-size: 10pt">&#8315;<font style="font-family: Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil ($ per bbl)</font></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33.5</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">72.0</font></td>
    <td nowrap>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-53%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-size: 10pt">&#8315;<font style="font-family: Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gas ($ per mcf)</font></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.0</font></td>
    <td nowrap>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Oil Revenues ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.1</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.8</font></td>
    <td nowrap>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-69%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Gas Revenues ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.0</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.8</font></td>
    <td nowrap>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Revenues ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.2</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">21.6</font></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-53%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Production and Operating Costs* ($ million)</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-6.3</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-9.4</font></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-33%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA ($ million) </font><font style="font-size: 8pt">&nbsp;</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.9</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3.0</font></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-70%</font></td></tr>
<tr style="background-color: white">
    <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA per boe ($) </font><font style="font-size: 8pt">&nbsp;</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.4</font></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-65%</font></td></tr>
<tr style="background-color: white">
    <td style="border-bottom: Black 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Operating Netback per boe ($) </font><font style="font-size: 8pt">&nbsp;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.2</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">28.8</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-61%</font></td></tr>
</table>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 90%; border-collapse: collapse">
<tr style="background-color: white">
    <TD STYLE="width: 54%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Brazil</b></font></td>
    <TD STYLE="width: 11%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>4Q2015</b></font></td>
    <TD STYLE="width: 18%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>&nbsp;&nbsp;&nbsp;&nbsp;4Q2014</b></font></td>
    <TD STYLE="width: 3%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right">&nbsp;</td>
    <TD STYLE="width: 14%; border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>% Chg.</b></font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Oil production (bopd) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">50</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">52</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-4%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gas production (mcfpd) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">20,979</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">20,754</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average net production (boepd) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3,546</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3,511</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gas Price ($ per mcf)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.1</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.8</font></td>
    <TD NOWRAP>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-29%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Revenues ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.5</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.0</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-6%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Production and Operating Costs* ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-2.5</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-2.4</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA ($ million) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.1</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.3</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-44%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA per boe ($) </font><font style="font-size: 8pt">&nbsp;</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13.6</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23.5</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-42%</font></td></tr>
<tr style="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Operating Netback per boe ($) </font><font style="font-size: 8pt">&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.8</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">27.4</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-39%</font></td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">* Production and Operating costs include operating
costs and royalties paid in cash.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 12 -->
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"><B>FULL YEAR 2015</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The table below sets forth some key performance
indicators for 2015 compared with 2014. Figures corresponding to 2014 include information relating to the acquired interest in
the Brazilian Manati Field completed on March 31, 2014. As from that date, GeoPark started consolidating line by line its results
of operations for accounting purposes within its Brazilian operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 90%; border-collapse: collapse">
<tr style="background-color: white">
    <TD STYLE="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Key Indicators </b></font></td>
    <TD STYLE="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>FY2015</b></font></td>
    <TD STYLE="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FY2014</b></font></td>
    <td colspan="2" style="border-top: #C00000 1pt solid; border-bottom: #D9D9D9 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>% Chg.</b></font></td></tr>
<tr style="background-color: white">
    <TD STYLE="width: 54%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Oil production (bopd) </font></td>
    <TD STYLE="width: 11%; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15,119</font></td>
    <TD STYLE="width: 18%; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14,541</font></td>
    <TD STYLE="width: 3%; text-align: right">&nbsp;</td>
    <TD STYLE="width: 14%; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gas production (mcfpd) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">31,488</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30,677</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3%</font></td></tr>
<tr style="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average net production (boepd) </font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">20,367</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19,653</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Combined price ($ per boe) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30.0</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">64.4</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-53%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-size: 10pt">&#8315;<font style="font-family: Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil ($ per bbl)</font></font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">32.1</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">77.5</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-59%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-size: 10pt">&#8315;<font style="font-family: Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gas ($ per mcf)</font></font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.6</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.4</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-28%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Oil Revenues ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">162.6</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">367.1</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-56%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Gas Revenues ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">47.1</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">61.6</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-24%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net Revenues ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">209.7</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">428.7</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-51%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Production &amp; Operating Costs* ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-86.7</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-131.4</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-34%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">G&amp;G, G&amp;A, &amp; Selling ($ million)</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-56.5</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-83.3</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-32%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA ($ million) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">73.8</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">220.1</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-66%</font></td></tr>
<tr style="background-color: white">
    <TD><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA per boe ($) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.5</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33.0</font></td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-68%</font></td></tr>
<tr>
    <TD STYLE="background-color: white"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Operating Netback per boe ($) </font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.9</font></td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">41.2</font></td>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-59%</font></td></tr>
<tr style="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Profit (loss) for the period ($ million)</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-284.6</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15.9</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>
                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">-</font></P></td></tr>
</table>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">* Production and Operating Costs include operating costs and royalties
paid in cash.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"><B>CONSOLIDATED STATEMENT OF INCOME </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">(Quarterly information unaudited)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <td nowrap style="vertical-align: bottom; width: 52%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(In millions of $) </font></td>
    <td nowrap style="width: 12%; border-bottom: #BFBFBF 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>4Q2015</b></font></td>
    <td nowrap style="width: 12%; border-bottom: #BFBFBF 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>4Q2014</b></font></td>
    <td style="width: 12%; border-bottom: #BFBFBF 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>FY2015</b></font></td>
    <td style="width: 12%; border-bottom: #BFBFBF 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>FY2014</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>NET REVENUES</b></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Sale of crude oil</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33.1</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">68.3</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">162.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">367.1</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Sale of gas</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.3</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.5</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">47.1</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">61.6</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>TOTAL NET REVENUES</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>45.4</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>80.8</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>209.7</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>428.7</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Production and operating costs </font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-22.2</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-33.0</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-86.7</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-131.4</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Geological and Geophysical expenses</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-4.2</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-4.0</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-13.8</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-13.0</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Administrative expenses</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-10.2</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-11.0</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-37.5</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-45.9</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Selling expenses</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-1.4</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-2.8</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-5.2</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-24.4</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Depreciation</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-31.2</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-27.7</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-105.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-100.5</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Write-off of unsuccessful efforts </font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-26.4</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-21.8</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-30.1</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-30.4</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Impairment loss for non-financial assets</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-149.6</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-9.4</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-149.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-9.4</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other operating </font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-1.1</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-3.4</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-13.7</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-1.8</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>OPERATING PROFIT (LOSS)</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-200.9</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-32.4</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-232.5</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>71.8</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Financial costs, net</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-9.6</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-7.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-35.7</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-27.6</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Foreign Exchange Gain (Loss)</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.9</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-11.5</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-33.5</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-23.1</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>PROFIT (LOSS) BEFORE INCOME TAX</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-199.5</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-51.5</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-301.6</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>21.1</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Income tax</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-2.0</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17.8</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17.1</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-5.2</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>PROFIT (LOSS) FOR THE PERIOD</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-201.5</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-33.7</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-284.6</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>15.9</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Non-controlling interest</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-43.8</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-4.6</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-50.5</font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.1</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ATTRIBUTABLE TO OWNERS OF GEOPARK</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-157.6</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-29.1</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-234.0</b></font></td>
    <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>7.8</b></font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"><B>RECONCILIATION OF ADJUSTED EBITDA TO PROFIT
(LOSS) BEFORE INCOME TAX</B>&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"><B>AND ADJUSTED EBITDA PER BOE </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3.5pt">(Quarterly information unaudited)&#9;&#9;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 52%">&nbsp;</td>
    <TD NOWRAP STYLE="width: 12%; background-color: white">&nbsp;</td>
    <TD NOWRAP STYLE="width: 12%; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: top; width: 12%; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: top; width: 12%; background-color: white">&nbsp;</td></tr>
<tr>
    <TD NOWRAP STYLE="vertical-align: bottom">&nbsp;</td>
    <TD NOWRAP STYLE="border-bottom: #BFBFBF 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>4Q2015</b></font></td>
    <TD NOWRAP STYLE="border-bottom: #BFBFBF 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>4Q2014</b></font></td>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>FY2015</b></font></td>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>FY2014</b></font></td></tr>
<tr>
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Adjusted EBITDA</b></font></td>
    <TD NOWRAP STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>10.6</b></font></td>
    <TD NOWRAP STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>27.4</b></font></td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>73.8</b></font></td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>220.1</b></font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Depreciation</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-31.3</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-27.1</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-105.6</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-100.5</font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Share Based Payments</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-3.7</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-0.4</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-8.2</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-8.4</font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Impairment and write-off</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-176.0</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-31.2</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-179.7</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-39.8</font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Others</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-0.5</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-0.6</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-12.8</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.5</font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>OPERATING PROFIT (LOSS)</b></font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-200.9</b></font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-32.6</b></font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-232.5</b></font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>71.8</b></font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Financial costs, net</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-9.6</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-7.5</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-35.7</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-27.6</font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Foreign Exchange Losses, net</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-10.9</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-11.5</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-33.5</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-23.1</font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>PROFIT (LOSS) BEFORE INCOME TAX</b></font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-199.5</b></font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-51.7</b></font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-301.6</b></font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>21.1</b></font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP>&nbsp;</td>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</td>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <TD NOWRAP><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.6</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">27.4</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">73.8</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">220.1</font></td></tr>
<tr style="background-color: white">
    <TD NOWRAP STYLE="vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total deliveries (in millions of boe)</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.9</font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.8</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.0</font></td>
    <TD STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.7</font></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="background-color: white"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Adjusted EBITDA per boe</b></font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>5.5</b></font></td>
    <TD NOWRAP STYLE="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>15.0</b></font></td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>10.5</b></font></td>
    <TD STYLE="background-color: white; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>33.0</b></font></td></tr>
</table>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"><B>CONSOLIDATED SUMMARIZED BALANCE SHEET </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 70%; border-collapse: collapse">
<tr>
    <td nowrap style="vertical-align: bottom; background-color: white">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="background-color: white">
    <TD NOWRAP STYLE="vertical-align: bottom; width: 66%">&nbsp;</td>
    <TD NOWRAP STYLE="width: 17%">&nbsp;</td>
    <TD NOWRAP STYLE="width: 17%">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td nowrap style="border-bottom: #BFBFBF 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Dec'15</b></font></td>
    <td nowrap style="border-bottom: #BFBFBF 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>Dec '14</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Non Current Assets</b></font></td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Property, Plant and Equipment</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">522.6</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">790.8</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Other Non Current Assets</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">49.4</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">47.8</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Total Non Current Assets</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>572.0</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>838.5</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Current Assets</b></font></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Inventories</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.3</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8.5</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Trade Receivables</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">13.5</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">36.9</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Other Current Assets</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">31.3</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.5</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Cash at bank and in hand</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">82.7</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">127.7</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Total Current Assets</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>131.8</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>200.6</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Total Assets</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>703.8</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>1,039.1</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Equity</b></font></td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Equity attributable to owners of GeoPark</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">146.7</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">375.6</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Non-controlling interest</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">53.5</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">103.6</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Total Equity</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>200.2</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>479.1</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <td nowrap>&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Non Current Liabilities</b></font></td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Borrowings</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">343.2</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">342.4</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Other Non Current Liabilities</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">79.0</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">93.6</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Total Non Current Liabilities</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>422.2</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>436.0</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Current Liabilities</b></font></td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Borrowings</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">35.4</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.2</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Other Current Liabilities</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">46.0</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">96.8</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Total Current Liabilities</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>81.4</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>124.0</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Total Liabilities and Equity</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>703.8</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>1,039.1</b></font></td></tr>
</table>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000"><B>SELECTED HISTORICAL OPERATIONAL AND FINANCIAL
DATA</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td nowrap>&nbsp;</td>
    <TD NOWRAP COLSPAN="3" STYLE="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Year ended December 31,</font></td>
    <td nowrap>&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom; width: 45%">&nbsp;</td>
    <td nowrap style="width: 12%; border-bottom: #BFBFBF 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>2015</b></font></td>
    <td nowrap style="width: 11%; border-bottom: #BFBFBF 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>2014</b></font></td>
    <td nowrap style="width: 11%; border-bottom: #BFBFBF 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>2013</b></font></td>
    <td nowrap style="width: 11%; border-bottom: #BFBFBF 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>2012</b></font></td>
    <td nowrap style="width: 10%; border-bottom: #BFBFBF 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #C00000"><b>2011</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Oil Reserves (2P PRMS) - mmboe </font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">62.6</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">56.3</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33.9</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">27.8</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.9</font></td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Gas Reserves (2P PRMS) - mmboe </font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">32.5</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">35.8</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">27.7</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">29.1</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">32.6</font></td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Combined Reserves (2P PRMS) - mmboe </b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>95.1</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>92.1</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>61.6</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>56.9</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>49.5</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Peru*</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30.2</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30.2</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><b>Total including Peru</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>125.3</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>122.3</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>-</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom"></td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Oil Production (thousand boepd)</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15.1</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14.5</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.1</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.5</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.5</font></td></tr>
<tr style="background-color: white">
    <td nowrap style="vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gas Production (thousand boepd)</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.3</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.1</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.4</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3.8</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.1</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Production (thousand boepd)</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>20.4</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>19.6</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>13.5</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>11.3</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>7.6</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Oil Revenues ($ million )</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">163</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">367</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">315</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">222</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">74</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gas Revenues ($ million)</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">47</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">62</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">29</font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">38</font></td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Total Revenues ($ million)</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>210</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>429</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>338</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>250</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>112</b></font></td></tr>
<tr style="background-color: white">
    <td nowrap>&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td>
    <td nowrap style="text-align: right">&nbsp;</td></tr>
<tr style="background-color: white">
    <td nowrap><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Adjusted EBITDA ($ million)</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>74</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>220</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>167</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>121</b></font></td>
    <td nowrap style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>63</b></font></td></tr>
</table>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">* </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Transaction
executed with Petroperu on October 1, 2014 with final closing subject to Peru Government approval.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000; text-indent: 0.5in"><B>GLOSSARY</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #C00000; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<tr style="vertical-align: top">
    <TD STYLE="width: 25%; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Adjusted EBITDA&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font></td>
    <TD STYLE="width: 75%">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Adjusted EBITDA is defined as
        profit for the period before net finance cost, income tax, depreciation, amortization, certain non-cash items such as impairments
        and write-offs of unsuccessful efforts, accrual of share-based payment and other non-recurring events</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Adjusted EBITDA per boe</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Adjusted EBITDA divided by total
        boe deliveries</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Operating Netback per boe</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Net revenues, less production
        costs (net of depreciation charges and accrual of stock options and stock awards) and selling expenses, divided by total boe deliveries.
        Operating Netback is equivalent to Adjusted EBITDA net of cash expenses included in Administrative, Geological and Geophysical
        and Other operating costs</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ANP</b></font></td>
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Ag&ecirc;ncia Nacional do Petr&oacute;leo, Brazil&rsquo;s National Agency of Petroleum</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ANH</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Agencia Nacional de Hidrocarburos
        de Colombia</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>boe</b>&#9;</font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Barrels of oil equivalent</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>boepd</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Barrels of oil equivalent per
        day</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>bopd</b>&#9;</font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Barrels of oil per day</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>CEOP</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Contrato Especial de Operacion
        Petrolera (Special Petroleum Operations Contract)</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>D&amp;M&#9;</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">DeGolyer and MacNaughton</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>EPS</b>&#9;</font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Earnings per share</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>IPO&#9;</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Initial Public Offering</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>mbbl&#9;</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Thousand barrels of oil</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>mmbo</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Million barrels of oil</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>mmboe</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Million barrels of oil equivalent</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>mcfpd</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Thousand cubic feet per day</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>mmcfpd</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Million cubic feet per day</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Mm<sup>3</sup>/day</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Thousand cubic meters per day</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>PRMS&#9;</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Petroleum Resources Management
        System</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>SPE&#9;</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Society of Petroleum Engineers</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>WI </b>&#9;</font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Working interest</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>NPV10</b></font></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">Present value of estimated future
        oil and gas revenues, net of estimated direct expenses, discounted at an annual rate of 10%</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.45pt 0pt 0; text-align: justify">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Sqkm&#9;</b></font></td>
    <TD STYLE="text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Square kilometers</font></td></tr>
</table>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #C00000"><B>NOTICE</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Additional information about GeoPark can
be found in the &ldquo;Investor Support&rdquo; section on the website at www.geo-park.com.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Rounding amounts and percentages: Certain
amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included
in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts
prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing
the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press
release may not sum due to rounding.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #C00000"><B>CAUTIONARY
STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">This press release contains statements that
constitute forward-looking statements. Many of the forward looking statements contained in this press release can be identified
by the use of forward-looking words such as &lsquo;&lsquo;anticipate,&rsquo;&rsquo; &lsquo;&lsquo;believe,&rsquo;&rsquo; &lsquo;&lsquo;could,&rsquo;&rsquo;
&lsquo;&lsquo;expect,&rsquo;&rsquo; &lsquo;&lsquo;should,&rsquo;&rsquo; &lsquo;&lsquo;plan,&rsquo;&rsquo; &lsquo;&lsquo;intend,&rsquo;&rsquo;
&lsquo;&lsquo;will,&rsquo;&rsquo; &lsquo;&lsquo;estimate&rsquo;&rsquo; and &lsquo;&lsquo;potential,&rsquo;&rsquo; among others.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Forward-looking statements that appear in
a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations,
regarding various matters, including expected 2016 production growth and capital expenditures plan. Forward-looking statements
are based on management&rsquo;s beliefs and assumptions, and on information currently available to the management. Such statements
are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking
statements due to various factors.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Forward-looking statements speak only as
of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future
developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to
reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these
forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Oil and gas production figures included
in this release are stated before the effect of royalties paid in kind, consumption and losses.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Information about oil and gas reserves</B>:
The SEC permits oil and gas companies, in their filings with the&nbsp;SEC, to disclose only proven, probable and possible reserves
that meet the&nbsp;SEC's&nbsp;definitions for such terms. GeoPark uses certain terms in this press release, such as &quot;PRMS
Reserves&quot; that the&nbsp;SEC's guidelines do not permit GeoPark from including in filings with the&nbsp;SEC. As a result, the
information in the Company&rsquo;s SEC filings with respect to reserves will differ significantly from the information in this
press release.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">NPV10 for PRMS 1P, 2P and 3P reserves is
not a substitute for the standardized measure of discounted future net cash flows for SEC proved reserves.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The reserve estimates provided in this release
are estimates only, and there is no guarantee that the estimated reserves will be recovered. Actual reserves may eventually prove
to be greater than, or less than, the estimates provided herein. Statements relating to reserves are by their nature forward-looking
statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Adjusted EBITDA:</B> The Company defines
Adjusted EBITDA as profit for the period before net finance cost, income tax, depreciation, amortization and certain non-cash items
such as impairments and write-offs of unsuccessful exploration and evaluation assets, accrual of stock options stock awards, bargain
purchase gain on acquisition of subsidiaries and other non-recurring events. Adjusted EBITDA is not a measure of profit or cash
flows as determined by IFRS. The Company believes Adjusted EBITDA is useful because it allows us to more effectively evaluate our
operating performance and compare the results of our operations from period to period without regard to our financing methods or
capital structure. The Company excludes the items listed above from profit for the period in arriving at Adjusted EBITDA because
these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values
of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDA should not be considered as an
alternative to, or more meaningful than, profit for the period or cash flows from operating activities as determined in accordance
with IFRS or as an indicator of our operating</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">performance or liquidity. Certain items
excluded from Adjusted EBITDA are significant components in understanding and assessing a company&rsquo;s financial performance,
such as a company&rsquo;s cost of capital and tax structure and significant and/or recurring write-offs, as well as the historic
costs of depreciable assets, none of which are components of Adjusted EBITDA. The Company&rsquo;s computation of Adjusted EBITDA
may not be comparable to other similarly titled measures of other companies. For a reconciliation of Adjusted EBITDA to the IFRS
financial measure of profit for the year or corresponding period, see the accompanying financial tables.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Operating netback per boe should not be
considered as an alternative to, or more meaningful than, profit for the period or cash flows from operating activities as determined
in accordance with IFRS or as an indicator of our operating performance or liquidity. Certain items excluded from Operating netback
per boe are significant components in understanding and assessing a company&rsquo;s financial performance, such as a company&rsquo;s
cost of capital and tax structure and significant and/or recurring write-offs, as well as the historic costs of depreciable assets,
none of which are components of Operating Netback per boe. The Company&rsquo;s computation of Operating Netback per boe may not
be comparable to other similarly titled measures of other companies. For a reconciliation of Operating Netback per boe to the IFRS
financial measure of profit for the year or corresponding period, see the accompanying financial tables.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Prospective Resources are those quantities
of petroleum that are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application
of future development projects. Prospective Resources have both an associated &ldquo;chance of discovery&rdquo; and a &ldquo;chance
of development&rdquo; (per PRMS). Prospective Resources are further subdivided in accordance with the level of certainty associated
with recoverable estimates, assuming their discovery and development, and may be sub-classified based on project maturity. There
is no certainty that any portion of the Prospective Resources will be discovered. If discovered, there is no certainty that it
will be commercially viable to produce any portion of the resources. Prospective Resource volumes are presented as unrisked.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The accuracy of any resource estimate is
a function of the quality of the available data and of engineering and geological interpretation. Results of drilling, testing
and production that postdate the preparation of the estimates may justify revisions, some or all of which may be material. Accordingly,
resource estimates are often different from the quantities of oil and gas that are ultimately recovered, and the timing and cost
of those volumes that are recovered may vary from that assumed.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Prospective resources include 220-597 mmboe
related to the Estratos con Favrella unconventional shale oil in Chile (Fell Block) for which the range of the final oil recovery
factor assumed by GeoPark&rsquo;s management for the calculation above considers: High: 2%, and Mean: 1.35%. The audit did not
cover the above recovery factors and only included an evaluation of original oil in place.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td colspan="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="3"><font style="font-size: 10pt"><b>GeoPark Limited</b></font></td></tr>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">By:</font></td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">/s/ Andr&eacute;s Ocampo</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</td>
    <TD STYLE="width: 27%">&nbsp;</td>
    <TD STYLE="width: 22%">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 6%"><font style="font-size: 10pt">Name:</font></td>
    <TD STYLE="width: 33%"><font style="font-size: 10pt">Andr&eacute;s Ocampo</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Title:</font></td>
    <TD><font style="font-size: 10pt">Chief FinancialOfficer</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Date: March 10, 2016</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
