Geopark

completed

_x000C_GeoPark Holdings Limited (GeoPark or the company), is a small South American exploration and production (E&P) company with producing assets in both Argentina and Chile. The Del Mosquito, Cerro Dona Juana and Loma Cortaderal blocks in Argentina are located in the Neuquen and Austral basins (central and southern Argentina) and are fully owned by the company. The Fell block in Chile is located in the Magallanes basin (also known as the Austral basin) and is 90 percent owned by GeoPark, with the remaining interest held by La Empresa Nacional de Petroleo (ENAP), the Chilean state-owned oil and gas company. Current oil and gas production is about 371 barrels a day (b/d) and 165,000 cubic feet per day, respectively, with the majority coming from Del Mosquito. IFC has been requested to provide early-stage financing to the company to strengthen GeoPark’s capital base and to help finance a portion of the company’s currently projected $80 million capital expenditure program which aims to increase oil and gas production to about 5,000 b/d and 40 million cubic feet per day (mmcf/d), respectively, by December 2008. This capital expenditure program is expected to entail the drilling of about 100 primary wells, the completion of approximately 50 work-overs and the installation of production and separation facilities, and product flow lines throughout the company’s properties.