<SEC-DOCUMENT>0000950103-17-009903.txt : 20180205
<SEC-HEADER>0000950103-17-009903.hdr.sgml : 20180205
<ACCEPTANCE-DATETIME>20171011164722
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-17-009903
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20171011

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:		CORRESP

	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>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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    <TD COLSPAN="2" STYLE="font-size: 10pt">October 11, 2017</TD></TR>
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    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
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    <TD STYLE="width: 7%; font-size: 10pt">Re:</TD>
    <TD STYLE="width: 93%; font-size: 10pt">GeoPark Limited<BR>
Form 20-F for Fiscal Year Ended December 31, 2016<BR>
Filed April 11, 2017<BR>
File No. 001-36298</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Brad Skinner</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Office of Natural Resources<BR>
U.S. Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, DC 20549-3628</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">Dear Mr. Skinner,</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">We are responding to the comments from the staff (the &ldquo;<B>Staff</B>&rdquo;)
of the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) relating to our Form 20-F for the fiscal year ended
December 31, 2016 (the &ldquo;<B>Form 20-F</B>&rdquo;) contained in the Staff&rsquo;s letter dated September 27, 2017 (the &ldquo;<B>Comment
Letter</B>&rdquo;).</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">Set forth below is our response to the Staff&rsquo;s comments.
For convenience, the Staff&rsquo;s comments are repeated below in italics, followed by our response to each comment as well as
a summary of the responsive actions taken.</P>

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

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Business Overview, page 35</P>

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

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; font-style: normal"><U>Oil
and Natural Gas Reserves and Production, page 59</U></FONT></P>

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

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; font-style: normal"><U>Proved
Undeveloped Reserves, page 62</U></FONT></P>

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&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"><I>1.</I></TD><TD><I>Expand your disclosure to provide an appropriate narrative explanation of changes in proved undeveloped reserves and the
net quantities relating to each individual factor, including offsetting factors, underlying the changes in your proved undeveloped
reserves so that the change in net reserves between periods is fully explained. Your disclosure of revisions in the previous estimates
of reserves in particular should identify such factors as changes caused by commodity prices, well performance, unsuccessful and/or
uneconomic proved undeveloped locations or the removal of proved undeveloped locations due to changes in a previously adopted development
plan. Refer to Item 1203(b) of Regulation S-K.</I></TD></TR></TABLE>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><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: 41%"> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Brad Skinner&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Office of Natural Resources<BR> U.S. Securities and Exchange Commission</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD><TD STYLE="width: 16%; font-size: 10pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 43%; font-size: 10pt; text-align: right">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Response:</TD><TD><FONT STYLE="font-weight: normal">In response to the Staff&rsquo;s comment, we will revise the relevant disclosure in future
Forms 20-F to include narrative disclosure explaining each significant change in proved undeveloped reserves. We respectfully note
that the principal factors underlying the changes in proved undeveloped oil reserves were provided on page 62 of the Form 20-F,
but we acknowledge that we will in the future expand our disclosure as follows:</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 1in"><FONT STYLE="font-weight: normal">Changes for the year
ended December 31, 2016, include (i) an increase of 9.3 MMboe in Morona Block related to the initial recognition of reserves associated
with the approval of the amendment to the License Contract of Morona Block appointing GeoPark as operator and holder of 75% of
the License-Contract. See &ldquo;Item 4. Information on the Company&mdash;B. Business Overview&mdash;Our operations&mdash;operations
in Peru.&rdquo;; (ii) an increase of 6.3 MMboe resulting from appraisal success in Jacana oil field in the Llanos 34 Block and
(iii) an increase of 4.8 MMboe due to revisions associated to well performance improvements and probable reserves transfers in
Tigana and Chachalaca oil fields in Llanos 34 Block and in certain oil and gas fields in Fell Block.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in"><FONT STYLE="font-weight: normal">During the year ended
December 31, 2016, we had 5.3 MMboe of our proved undeveloped reserves from December 31, 2015 converted to proved developed reserves
due to development drilling in the Jacana and Tigana oil fields in the Llanos 34 Block and development drilling in the Ache gas
field in the Fell Block.&rdquo;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&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"><I>2.</I></TD><TD><I>If you have material quantities of proved undeveloped reserves that will not be developed within five years of your initial
disclosure, provide the information required by Item 1203(d) of Regulation S-K. If you expect that any of your proved undeveloped
reserves will take more than five years to develop since initial disclosure, refer to the answer to question 131.03 in our Compliance
and Disclosure Interpretations (C&amp;DIs), and describe for us the specific circumstances that you believe justify an extended
period of time. You may find the C&amp;DIs on our website at the following address:</I></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 0.5in"><FONT STYLE="color: Blue"><U>http://www.sec.gov/divisions/corpfin/guidance/oilandgas-interp.htm</U></FONT>.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Response<FONT STYLE="font-weight: normal">:</FONT></TD><TD><FONT STYLE="font-weight: normal">We acknowledge the Staff&rsquo;s comment and respectfully advise the Staff that we plan to
put approximately 81% of our reported 2016 year-end proved undeveloped reserves into production through activities to be implemented
within five years of initial disclosure. The remaining 19% are expected to be developed over periods exceeding five years since
initial disclosure, which are scheduled for the years ended December 31, 2020 and December 31, 2024, mainly located in oil and
gas fields where the activity has been scheduled to maintain production levels in accordance with contracts and installed facilities
in place. We take note of the Staff comments and advise the Staff that we will include these disclosures in future Forms 20-F.</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"></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"><U>Production, Revenues and
Price History, page 63</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&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"><I>3.</I></TD><TD><I>Expand the disclosure of production presented as average daily rates to provide this information as annual volumes for each
of the last three fiscal years by final product sold with disclosure by geographical area and for each country and field that contains
15% or <I>more of your total proved reserves. Should you require
additional guidance, refer to Item 1204(a) of Regulation S-K and Rule 4-10(a)(15) of Regulation S-X.</I></I></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Response:</TD><TD><FONT STYLE="font-weight: normal">In response to the Staff&rsquo;s comment, we will revise the relevant disclosure in future
Forms 20-F to include annual volumes for each of the last three fiscal years by final products sold and geographical area. Set
forth below is the relevant disclosure for the year ended December 31, 2016:</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" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
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    <TD STYLE="padding-bottom: 1pt; text-align: center; background-color: White">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; background-color: White">&nbsp;</TD><TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; background-color: White">2016</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; background-color: White">&nbsp;</TD><TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; background-color: White">2015 (*)</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; background-color: White">&nbsp;</TD><TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; background-color: White">2014 (*)</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: center; background-color: White; width: 34%">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center; background-color: White; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 1%">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 8%"><FONT STYLE="font-size: 10pt">Oil</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 1%">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center; background-color: White; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">Gas</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center; background-color: White; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 1%">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 8%"><FONT STYLE="font-size: 10pt">Oil</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 1%">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center; background-color: White; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">Gas</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center; background-color: White; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 1%">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 8%"><FONT STYLE="font-size: 10pt">Oil</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; width: 1%">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">Gas</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(220,235,244)">
    <TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">Mbbl</FONT></TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">MMcf</FONT></TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">Mbbl</FONT></TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">MMcf</FONT></TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">Mbbl</FONT></TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: White">&nbsp;</TD><TD STYLE="text-align: center; background-color: White"><FONT STYLE="font-size: 10pt">MMcf</FONT></TD><TD STYLE="text-align: center; background-color: White">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(213,234,234)">
    <TD STYLE="text-align: left">Tigana oil field</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,871.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,809.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,221.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Jacana oil field</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,188.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">151.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(213,234,234)">
    <TD>Rest of Colombia</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,113.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,615.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,436.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Chile</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">502.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,293.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">707.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,025.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,372.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,515.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(213,234,234)">
    <TD>Brazil</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,314.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,213.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,216.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Argentina</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(213,234,234)">
    <TD STYLE="font-weight: bold">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">5,690.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">11,607.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">5,300.7</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">11,238.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">5,050.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">11,731.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">The Tigana (discovered in 2013) and Jacana (discovered
in 2015) oil fields in Colombia are separately included in the table above as those oil fields individually contain more than 15%
of our total proved reserves as of each of the years indicated above.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in"><B>(*)</B> Please see response #6 in this letter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><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: 41%"> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Brad Skinner&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Office of Natural Resources<BR> U.S. Securities and Exchange Commission</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD><TD STYLE="width: 16%; font-size: 10pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 43%; font-size: 10pt; text-align: right">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"><U>Developed and Undeveloped
Acreage, page 65</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&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"><I>4.</I></TD><TD><I>Expand the presentation relating to your gross and net developed and undeveloped acreage to include such acreage for Argentina
to comply with the disclosure requirements pursuant to Item 1208 of Regulation S-K or tell us why a revision is not necessary.</I></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: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Response:</TD><TD><FONT STYLE="font-weight: normal">We acknowledge the Staff&rsquo;s comment and we respectfully advise the Staff that our blocks
in Argentina are exploratory and have not been drilled as of the date of filing the Form 20-F. As such, we believe that no revision
is necessary pursuant to Item 1208 of Regulation S-K because our wells in Argentina are not productive wells.</FONT></TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Notes to Consolidated Financial Statements</P>

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

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; font-style: normal"><U>Supplemental
Information on Oil and Gas Activities (Unaudited), page F-68</U></FONT></P>

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

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; font-style: normal"><U>Estimated
Oil and Gas Reserves, page F-71</U></FONT></P>

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&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"><I>5.</I></TD><TD><I>Revise the disclosure of changes in proved reserves provided pursuant to FASB ASC 932-235-50-5 to include appropriate explanation
for all significant changes that occurred during the periods presented.</I></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: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Response:</TD><TD><FONT STYLE="font-weight: normal">We acknowledge the Staff&rsquo;s comment and we respectfully refer the Staff to the tables
provided below Table 5 in Note 37 on pages F-73 and F-74. In particular, we believe that the &ldquo;Revisions&rdquo; and &ldquo;Extensions
and Discoveries&rdquo; line items provide an explanation for all significant changes that occurred for all periods presented. We
acknowledge that no narrative disclosure was provided as a footnote to the tables with respect to the line item in such tables
entitled &ldquo;Purchases of minerals in place&rdquo;, but refer to the additional disclosure noted below:</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: 97.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD><FONT STYLE="font-weight: normal">Page 35: In December 2016, we obtained final regulatory approval for our acquisition of the
Morona Block in Peru. The Joint Investment and Operating Agreement dated October 1, 2014 and its amendments were closed on December
1, 2016 following the issuance of Supreme Decree 031-2016-MEM.</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: 97.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD><FONT STYLE="font-weight: normal">Page 38: In 2013, the acquisition of Rio das Contas, which closed on March 31, 2014, gave
us a 10% working interest in the BCAM-40 Concession, including the shallow-depth offshore Manati and Camar&atilde;o Norte Fields
in the Camamu-Almada Basin in the State of Bahia. The Manati Field is operated by Petrobras (with a 35% working interest), the
Brazilian national company and the largest oil and gas operator in Brazil. Our Rio das Contas acquisition in Brazil provides us
with a long-term off-take contract with Petrobras that covers approximately 100% of net proved gas reserves in the Manati Field,
a valuable relationship with Petrobras and an established local platform and presence.</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: 97.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD><FONT STYLE="font-weight: normal">Page F-62: Note 34&#9;&ldquo;Business transactions&rdquo;</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 1in">Notwithstanding the above, we will revise the tabular
disclosures included on pages F-73 and F-74 in future Forms 20-F to include footnotes to all relevant line items explaining significant changes in proved reserves
pursuant to FASB ASC 932-235-50-5.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><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: 41%"> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Brad Skinner&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Office of Natural Resources<BR> U.S. Securities and Exchange Commission</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD><TD STYLE="width: 16%; font-size: 10pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 43%; font-size: 10pt; text-align: right">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&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"><I>6.</I></TD><TD><I>We note there appears to be an inconsistency between the figures relating to the total production volumes used in the reconciliation
of the changes in total proved reserves on pages F-73 and F-74 and the comparable figures presented on pages 98 and 104. Revise
your disclosure to resolve this apparent inconsistency or include additional footnote disclosure to explain the differences.</I></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: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Response:</TD><TD><FONT STYLE="font-weight: normal">In response to the Staff&rsquo;s comment, we will revise the relevant disclosure in future
Forms 20-F to include additional footnote disclosure to explain the differences between the figures relating to the total production
volumes used in reconciliation of the changes to total proved reserves on pages F-73 and F-74 and the comparable figures presented
on pages 98 and 104.</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 1in">With respect to oil production, the discrepancy is primarily
due to the fact that production volumes used in the reconciliation of the changes in proved reserves on pages F-73 and F-74 is
net production after royalties paid in kind, as the reported reserves are net of amounts that are expected to be paid in kind.
The production figures included on pages 98 and 104, however, are before royalties in kind, as, consistent with the footnote disclosure
on page 63, we believe that net production before royalties is more appropriate in light of our foreign operations and the attendant
royalty regimes and in line with managerial information we use internally to measure production performance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">Notwithstanding the above, when we reviewed the disclosures
on page F-73, we realized that total oil production figures in 2015 should have been reported as 5.3 mmbbl instead of 5.5 mmbbl,
with the difference having been reported in the revisions line for the same year. Also, total gas production figures in 2015 should
have been reported as 11.2 mmcf instead of 11.4 mmcf, with the difference having been reported in the revisions line for the same
year. We will correct these disclosures in future filings.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">With respect to gas production, the discrepancy is primarily
due to the fact that the production volumes used in the reconciliation of the changes in proved reserves on pages F-73 and F-74
are measured at the point of delivery. The information presented on pages 98 and 104, however, is gas available to be delivered
into the gas pipeline after field separation but prior to compression, in line with managerial information we use internally to
measure production performance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">Notwithstanding the above, we also clarify that &ldquo;purchase
of minerals in place&rdquo; on page F-73 in Brazil for the year ended December 31, 2014 corresponds to reserves measured as of
December 31, 2013 and that consequently, the production figures also correspond to the full year 2014. On page 104, the gas production
figures include production for 2014 as of the date of closing, which corresponds to the period March 31, 2014-December 31, 2014.
We will clarify this in future filings, as needed.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

&nbsp;
<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><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: 41%"> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Brad Skinner&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Office of Natural Resources<BR> U.S. Securities and Exchange Commission</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD><TD STYLE="width: 16%; font-size: 10pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 43%; font-size: 10pt; text-align: right">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">We note the Staff&acute;s comment and in future Forms
20-F will include additional disclosure throughout the document to clarify the foregoing as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%"><B><U>Net Production Volumes</U></B></TD>
    <TD STYLE="width: 32%"><B><U>2016</U></B></TD>
    <TD STYLE="width: 32%"><B><U>2015</U></B></TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%">Oil (mmbbl) (a)</TD>
    <TD STYLE="width: 32%">6,189</TD>
    <TD STYLE="width: 32%">5,518</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Gas (mcf) (b)</TD>
    <TD>11,911</TD>
    <TD>11,493</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Total Net Production (mboe)</TD>
    <TD>8,174</TD>
    <TD>7,434</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We present
production figures before deduction of royalties, as we believe that net production before royalties is more appropriate in light
of our foreign operations and the attendant royalty regimes. Oil production figures presented on page F-73 are net of royalties.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corresponds
to production measured after separation but prior to compression, which is the measure we used to monitor business performance.
Gas production presented on pages F-73 and F-74 is gas measured at the point of delivery.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in">&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"><I>7.</I></TD><TD><I>Modify the line item entitled &ldquo;Incorporation&rdquo; in the tabular presentation of the changes in total proved reserves
as of December 31, 2016 to correspond to one of the standardized change categories under FASB ASC 932-235-50-5.</I></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: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Response:</TD><TD><FONT STYLE="font-weight: normal">We acknowledge the Staff&rsquo;s comment and we respectfully advise the Staff that in future
filings we will replace the line item entitled &ldquo;Incorporation&rdquo; in the tabular presentation of the changes in total
proved reserves with line &ldquo;Purchase of Minerals in place&rdquo; with the appropriate footnote disclosure that corresponds
to one of the standardized change categories under <I>FASB ASC 932-235-50-5.</I></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"><I>8.</I></TD><TD><I>We note your footnote disclosure accompanying the tabular presentation of the consolidated reserves shown in Table 4 regarding
LG International Corporation&rsquo;s (&ldquo;<B>LGI</B>&rdquo;) 20% interest. Note that FASB ASC 932-235-50-8 requires the disclosure
of the approximate portion of reserve quantities attributable to a consolidated subsidiary in which there is a significant non-controlling
interest. Expand your disclosure to provide the net quantities of reserves corresponding to LGI&rsquo;s interests or tell us why
such disclosure is not necessary. Provide similar type disclosure regarding the standardized measure on page F-75.</I></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: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 72pt">Response:</TD><TD><FONT STYLE="font-weight: normal">We acknowledge the Staff&rsquo;s comment and we respectfully advise the Staff that we believe
the footnote disclosure accompanying the tabular presentation of the consolidated reserves shown in Table 4 relating to LGI provides
information to disclose the approximate portion of consolidated reserves attributable to non-controlling interest as required by
FASB ASC 932-235-50-8. Notwithstanding the above, we note the Staff&acute;s comment and in future Forms 20-F will include additional
disclosure to include the approximate number of reserves and similar disclosure with regards to the standardized measure, as follows:</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" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">-</TD><TD>The amounts of proved reserves disclosed herein as of
December&nbsp;31, 2016 include 8,796.2 thousand barrels of crude oil condensate and natural gas liquids and 7,356.0&nbsp;million
cubic feet of natural gas corresponding to non-controlling interest held by LGI.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">-</TD><TD>The amounts of proved reserves disclosed herein as of
December 31, 2015 include 7,281.3 thousand of barrels of crude oil condensate and natural gas liquids and 7,345.8 million of cubic
feet of natural gas corresponding to non-controlling interest held by LGI.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><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: 41%"> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Brad Skinner&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Office of Natural Resources<BR> U.S. Securities and Exchange Commission</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD><TD STYLE="width: 16%; font-size: 10pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 43%; font-size: 10pt; text-align: right">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">-</TD><TD>The amounts of proved reserves disclosed herein as of
December 31, 2014 include 6,275.2 thousand of barrels of crude oil condensate and natural gas liquids and 6,948.4 million of cubic
feet of natural gas corresponding to non-controlling interest held by LGI.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">-</TD><TD>The amounts of the standardized measure of discounted
future net cash flows herein for the year ended December 31, 2016, 2015 and 2014 include $61.4 million, $73.9 million and $164.2
million that correspond to the non-controlling interest held by LGI.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"><U>Standardized Measure of
Discounted Future Net Cash Flows Related to Proved Oil and Gas Reserves, page F-74</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&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"><I>9.</I></TD><TD><I>Your disclosure on page 62 indicates that you incurred approximately $10.1 million in capital expenditures to convert 5.3
MMboe of proved undeveloped reserves to developed reserves which equates to a unit development cost of approximately $1.906 per
boe. This appears to be significantly less than the unit development costs indicated from the figures presented in your standardized
measure which would equate to a projected future unit development cost of approximately $9.78 per boe ($470.5 million/48.1 MMboe).
Explain the significant differences between your historical and projected future development costs and reconcile the difference
between the $10.1 million incurred to convert proved undeveloped reserves and the total development costs incurred during the year
of $17.3 million as disclosed on page F-68.</I></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: bold 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Response:</TD><TD><FONT STYLE="font-weight: normal">We acknowledge the Staff&rsquo;s comment and respectfully advise the Staff that the development
costs of $1.9 per boe incurred in 2016 is significantly lower than the consolidated projected future development costs presented
in the standardized measure due to the fact that, significant capital expenditures in 2016 allocated principally to convert proven
undeveloped reserves in Colombia. The development costs associated with the conversion of these proven undeveloped reserves incurred
in 2016 on a per boe basis are consistent with those derived from the standardized measure of approximately $2.5 per boe ($70 million
/27.8 MMboe). In addition, we also advise the Staff that projected future development costs are impacted by our entry into Peru
in 2016, and the subsequent addition of proved developed and undeveloped reserves in Peru, for which the future development costs
are $234 million. This figure represents 50% of our consolidated future development costs but only 25% of total proved reserves
(or 19% of proved undeveloped reserves) as of December 31, 2016, thus significantly increasing consolidated average future unit
of developments costs.</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 1in; text-indent: 0in"><FONT STYLE="font-weight: normal">The
table below provides a breakdown of development costs incurred in 2016 to reconcile the $10.1 million invested to convert proven
undeveloped reserves to proven developed reserves to the total development costs of $17.3 million reported in Costs Incurred tabular
disclosures included on page F-68:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt"><B>Description</B></TD>
    <TD STYLE="width: 45%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt"><B>Amount (million $)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt">Conversion of PUD to PD</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt">$10.1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt">Facilities (*)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt">$8.5</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt">Asset Retirement Obligations (**)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt">($1.3)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt"><B>Total development costs</B></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 111.15pt; text-indent: -111.15pt"><B>$17.3</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 0pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">(*) Correspond mainly to facilities in Llanos 34 Block in Colombia.</P>
                                                                           <P STYLE="margin-top: 0; margin-bottom: 0">(**) Corresponds to the effect of change in estimate of asset retirement obligations in Colombia.</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><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: 41%"> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Brad Skinner&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Office of Natural Resources<BR> U.S. Securities and Exchange Commission</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD><TD STYLE="width: 16%; font-size: 10pt; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 43%; font-size: 10pt; text-align: right">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Please do not hesitate to contact me at +54-11-4312-9400 or aocampo@geo-park.com
if you have any questions regarding the foregoing or if I can provide any additional information.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&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: 100%">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Very truly yours</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>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">/s/ Andr&eacute;s Ocampo</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>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Andr&eacute;s Ocampo&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Chief Financial Officer</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">GeoPark Limited</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>
        <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: 6%">cc:</TD>
    <TD STYLE="width: 94%">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><U>Via E-mail</U></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Maurice Blanco, Davis Polk &amp; Wardwell LLP</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Yasin Keshvargar, Davis Polk &amp; Wardwell LLP</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ezequiel Mirazon, Price Waterhouse &amp; Co. S.R.L., 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">German Moss, DeGolyer and MacNaughton</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>


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

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

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