GeoPark announces new strategic block acquisitions in Colombia
GeoPark announced the expansion of its portfolio in Colombia following a new successful Agencia Nacional de Hidrocarburos, or ANH, bid round and an agreement with Parex Resources. As part of the second cycle of ANH's Permanent Process for the Assignment of Areas, or PPAA, in Colombia, GeoPark was awarded the Llanos 123 and Llanos 124 blocks in partnership with Hocol. Final contracts are expected to be signed in December 2019 or early 2020. In addition, GeoPark and Parex executed an agreement in which GeoPark will assume, subject to ANH approval, a 50% WI in the Llanos 94 block in exchange for funding its 50% pro-rata share of existing commitments, with no carry. On November 15, 2019, GeoPark announced that it will acquire the entire issued and to be issued share capital of Amerisur Resources in an all cash transaction with closing of the transaction expected in January 2020, following approval of Amerisur shareholders and subject to customary regulatory approvals. As part of the PPAA, Amerisur was awarded the PUT-36 block.