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GEOPARK LIMITED

(GPRK)
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GeoPark : Comments on Letter From Former Chair

06/18/2021 | 06:04pm EDT

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, today issued the following statement in response to the letter sent to the Board by its former Chair Gerald O’Shaughnessy:

“Since GeoPark’s inception, we have always worked to ensure we have the skills, capabilities and necessary tools to become the leading independent E&P Company in Latin America. As we have grown and matured, we have worked deliberately to strengthen our governance profile and, today, our Board has a majority of independent directors and a newly appointed independent chair, consistent with best practices. We have added two new independent directors in the last 12 months and have nominated a third independent director for election at the upcoming Annual General Meeting. We have also instituted a new Board committee with two independent members to oversee strategic matters. Our Board’s continued evolution and diversification in recent years is an important and notable achievement, and one that we expect will help us build and deliver value to all shareholders.

It is unfortunate that, after 18 years of service as the Chair of GeoPark’s Board, Mr. O’Shaughnessy, 72, has chosen to leave the Board and disparage GeoPark with baseless claims. The Board and the management team are focused on the best interests of the Company and our shareholders. We maintain an open dialogue with our shareholders and are always open to opportunities that will create value for all shareholders.”

NOTICE

A copy of GeoPark’s proxy statement and related materials as furnished to the SEC is available at no charge on the SEC website at www.sec.gov. In addition, copies of the proxy statement and other documents may be obtained free of charge by accessing the Company’s website at www.geo-park.com or at www.envisionreports.com/GPRK/2021/1B327AP21E/default.htm?voting=true.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

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 ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.

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 the composition of the Board of Directors, the Board’s evolution and diversification and GeoPark’s focus on value creation for shareholders. Forward-looking statements are based on management’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.

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 (SEC).


ę Business Wire 2021
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Financials (USD)
Sales 2021 623 M - -
Net income 2021 72,1 M - -
Net Debt 2021 556 M - -
P/E ratio 2021 10,7x
Yield 2021 0,65%
Capitalization 746 M 746 M -
EV / Sales 2021 2,09x
EV / Sales 2022 1,72x
Nbr of Employees 437
Free-Float 61,2%
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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 12,22 $
Average target price 21,01 $
Spread / Average Target 71,9%
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Managers and Directors
James Franklin Park Deputy Chairman & Chief Executive Officer
AndrÚs Ocampo Chief Financial Officer
Sylvia Escovar Gˇmez Independent Chairman
Sabrina Garcia Manager-Information Management
Augusto Zubillaga Chief Operating Officer
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