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Geopark Holdings announce strategic entry and acquisition in Brazil


Published May 16, 2013
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Geopark Holdings Ltd.

GeoPark Holdings Limited announces its strategic entry into Brazil with the acquisition of a ten percent working interest in the offshore Manati gas field (Manati Field) -- the largest natural gas producing field in Brazil.

On May 14, 2013, GeoPark executed a stock purchase agreement (SPA) with Panoro Energy do Brasil Ltda., the subsidiary of Panoro Energy ASA, (Panoro), a Norwegian listed company with assets in Brazil and Africa, to acquire all of the issued and outstanding shares of its wholly-owned Brazilian subsidiary, Rio das Contas Produtora de Petróleo Ltda (Rio das Contas), the direct owner of 10% of the BCAM-40 block (the "Block"), which includes the shallow-depth offshore Manati Field in the Camamu-Almada basin.

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