GeoPark says not able to proceed with the acquisition of the CPO-9 block

GeoPark (GPRK) announced that Ecopetrol (EC), the operator of the CPO-9 block, has exercised its preemptive rights under the terms of the joint operating agreement to acquire 100% of Repsol Colombia O&G, which owns a 45% non-operated working interest in the CPO-9 Block. As a result, GeoPark is not able to proceed with the acquisition of the CPO-9 block, as outlined in the company’s previously announced transaction with Repsol on November 29. With regards to the acquisition of Repsol’s 25% interest in SierraCol Energy Arauca in Arauca Department, at this stage, Repsol’s partners can still exercise their preemptive rights, and the process is still open. GeoPark will provide further updates on the acquisition process in due course.