OilBarrel Conference, London, February 2007

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1Q 06 2Q 06 3Q 06 4Q 06 Jan 07

PRO

DU

CTI

ON

(BO

EPD

)

OilBarrel Conference, London, February 2007

Where We Started

§ GEOPARK was founded to participate in theconsolidation and rationalization of the oil and gasindustry in Latin America. Its mission is to become aleading oil and gas finder, operator and acquirer inthe region by leveraging its technical expertise, costmanagement and commercial skills and its long termbalanced approach to value creation.

§ GEOPARK’s initial acquisition was in November2002 when it acquired the Latin American upstreamoil and gas assets from AES Corporation (a NYSEpower utility), consisting of three blocks in Argentinaand one block in Chile.

§ Since closing the acquisition, GEOPARK hasrestructured, renegotiated, built, added to andinvested in the assets -- thereby converting a stallednon-performing project into an expanding operationwith a supportive cash flow, strong management,proven reserves, capital to grow and a balancedportfolio of attractive opportunities.

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Jan-06 Feb-06 Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Jan-07

BOEP

D

2006: Tangible Achievements

DRILLINGRIG

ARRIVEDIN CHILE

AIM PUBLICLISTING

US$40 MMRAISED

IFC US$ 10 MMEQUITY

INVESTMENT

START-UP OFPRODUCTION

IN CHILE(MOLINA FIELD)

LONG TERMDRILLING RIG

CONTRACTSIGNED

ACQUISITION OFWORKOVER RIG

START-UP OF3D SEISMICPROGRAMIN CHILE

START-UP3D SEISMIC

PROGRAM INARGENTINA

COMPLETION OF 3DSEISMIC PROGRAM

(400 SQ KM) INARGENTINA

BEGINWORKOVERPROGRAMIN CHILE

WORKOVER INARGENTINA

LC PRODUCTIONSTART-UP

START-UP OFSANTIAGO

NORTE FIELDIN CHILE

INDEPENDENTRESERVEREPORT

(2P: 29 MM BOE)

ACQUIRED100% FELL

BLOCK

COMPLETION OFPIPELINE & PLANT

EXPANSIONPROJECT

START-UP OFOVEJEROAND NIKA

FIELDSIN CHILE

IFCUS$ 20 MM

LOAN FUNDSRECEIVED

COMPLETIONOF 3D SEISMIC

PROGRAM(473 SQ KM)

IN CHILE

Oil and Gas Production (BOEPD) Temporary Compensation from ENAP- PL2 (BOEPD)

HANOVERGAS PLANT

LOI

TEQ PLANTCOMPLETE

CONSTRUCTIONSTARTED

HANOVER PLANT

Ì

CAPITALBalance Sheet

Resources,Revenues and LongTerm Shareholders

POSITIONRegional Advantages

and PartnershipsProvide GrowthOpportunities

PLANFull Cycle Risk-Balanced WorkProgram with

Equipment in Place

PEOPLEManagement Team

with Depth andRecord of Success

In Region

PLATFORMAsset Base with

Production, ProvenReserves and Upside

Potential

ÌÌÌ Ì

Where We Are Now: Building on Strong Fundamentals

MARKETStrengthening

ConditionsProvide Economic

Underpinning

Ì






Equipment in Place

PEOPLE



Potential

ÌÌÌ Ì


MARKETStrengthening


Underpinning

People: Investing in Oil & Gas Finding Capabilities

YPF, San Jorge, Chevron25EngineerJuan Carlos Ferrero (45)

ENAP, Weatherford, Schlumberger, Halliburton25EngineerGuido Jimenez (57)

Techint, McKee, San Jorge, Chevron22EngineerMiguel Mallo (56)

YPF, San Jorge, Chevron19GeophysicistGuillermo Rossi PhD (46)

YPF, San Jorge, Chevron26GeologistCarlos Gulisano PhD (55)

ENAP, Halliburton28EngineerIvan Hidalgo (52)

Baker Huges, YPF, San Jorge, Chevron16GeologistPablo Berri (44)

Repsol YPF, San Jorge, Chevron16GeologistMario Outon (44)

YPF, Tecpetrol, San Jorge, Chevron28GeologistCarlos Murut (50)

YPF, ARCO, Lagoven, San Jorge, Chevron20GeophysicistMaria Ester Lara PhD (50)

Total, Pan American (BP), Wintershall19GeophysicistMario Vila PhD (47)

YPF, Pluspetrol29EngineerRicardo Saldano (55)

San Jorge, Chevron10EngineerAugusto Zubillaga (36)

Chevron8EngineerFederico Resio (30)

Engineer

Geologist

Profession

BJ Services, San Jorge, Chevron26Gustavo Henderson (50)

YPF, Schlumberger, San Jorge, Chevron25Gerardo Hinterwimmer (50)

Previous CompaniesYearsExperience

Name (Age)

§ Reconstitution of the core San Jorge team (discovered more than 600 MMbbl during the 1990’s and waseventually sold to Chevron for US$1.2 Billion in 1999).

§ Geological, geophysical and engineering depth.§ Group has a history of working together and is well respected in the region.§ Scalable for future projects.§ Vested in success of Company.

People: Management / Corporate Structure

GEOPARK ARGENTINA GEOPARK CHILE

DEL MOSQUITO BLOCK

CDJ / LC BLOCKS

FELL BLOCK

Technical Support & AuditDeGolyer & MacNaughton

Financial Support & AuditGrant Thornton / Pricewaterhouse

GeosciencesG. Hinterwimmer

OperationsG. Henderson

SupportM. Pérez de Solay

GrowthJ. Park

GEOPARK HOLDINGS

Planning LeaderCarlos Gulisano

Senior AdvisorSalvador Harambour

SHAREHOLDERS

Board of DirectorsGerald O’Shaughnessy (Chairman)

James Park (CEO)Sir Michael Jenkins

Christian WeyerPeter Ryalls

Ì






Equipment in Place



In Region

PLATFORM ÌÌÌ Ì


MARKETStrengthening


Underpinning

139,710100Loma CortaderalNeuquenArgentina

135,954100Cerro Dona JuanaNeuquenArgentina

2190,000100Del MosquitoAustralArgentina

20440,000100FellAustralChile

Fields(No.)

Area(Acres)

WorkingInterest (%)

BlockBasinCountry

§ 4 blocks (3 Argentina, 1 Chile)

§ 705,664 acres under licence

§ 100% working interests

§ Operatorship of all 4 blocks

§ Low cost operating areas

§ Attractive fiscal terms

§ Formerly state-owned oil company operatedblocks with bypassed hydrocarbons

§ Risk-balanced opportunities (production,development, exploration projects)

Platform: Block Summary

SOUTH AMERICA

ARGENTINA

PRODUCTIVE BASINS

GEOPARK BLOCKS

NEUQUEN

DEL MOSQUITO

COMODORO

SANTIAGOMENDOZA

SALTA

BUENOS AIRES

CHILE

FELL BLOCK

LOMA CORTADERAL

CERRO D. JUANA

BLOCK (Arg)

BLOCK (Arg)

RIVADAVIA

REFERENCES

1

12

20

1

12

Te-3

Te-2

Te-1

T-8

T-5 T-4

T-3

Sa-1

SN-3

SN-2

SN -1S-2

S-1

PS-1

11PL-10BPL-10A

PL-10

PL-9

PL-8

PL-7PL-6

PL-5

P L-4

PL-3

PL-2

PL- 1A

O-1

OK-1

NS-1

NO-2

N O-1 N-4

N-3

N-2

N-1

Mur-1

MunO-1 Mun-3

Mun-2

Mun-1

E MAO-1

MA- 31

30

29

2827

26

MA-25

23MA-22

MA-21

MA-19

18

MA-17

MA -16

MA-15

MA-14MA-13

MA-12MA-11

MA-10

MA-9

MA -8MA -7

MA -6

MA -5MA-4

MA-3

MA -2MA-1

Mol-7

Mol-6Mol-5Mol-4 Mol-3

Mol-2Mol-1

Mog-1

MN-2MN-1

KAN -5

KAN -4

K AN-3

KA N-2

K AN-1

KA-3

K A-2AKA-2

K A-1

Gu-2

Gu-1

E-3E-2

E-1

DorN-1

Dor -3

D O-2

D-14

D -13

D-11

D -10

D-9

D -8D-7

D-6

D-5

D-3

D-2D-1

C OZ-1AC OZ-1

CH-1

PDO-2

PDO-1

PD N-3PDN -2A

PD N-2

PDN-1

PD -11

PD-10

PD-8

PD-7

PD-6

PD -5

P D-4

PD -3PD-2P D-1

Me-2Me-1

F-1

D ir-1

CN -3

C N-2

C N-1

F-2

M-1

Fell-2

DO-3

DO-1B N-2

BN-1A

D-4

Fell-1

B N-3

Mol-7 Bis

D- A

D-B

MA-5BIS

MA-11BIS

P L-4B IS

PL-9B IS

PL-1

T-8

T-7

T-2

T-1

CG-1

T- 6AT-6

24

O-1001

MA-1001MA-1002

P DN-1001

SN-1001

10 km10 km C.VIRGENES

4 2714

32

LV.x-1

DL-4

DMN.a-2

DMN.x-1

33

8

LD M.x-2

ZP.x-1

SG-1

LDMS.x-1

D L-3

D L-1

9

7

5

31

30

DM.x-3

2925

24

2322

21

20

19

18 171615

13

12

11

10

D M.x-1

3 2

CN o.x-1

CF.x-1

DMN.a-3

EE

BLOCK (Arg)

10 km

ACh.x- 12

3

CDJ.x-1

CLP.x-1

ABM.x- 1

LoC.x-1

PMy.x-1

(Chile)

500 km

A T L A N T I CO C E A N

P A C I F I CO C E A N

NORTHWEST BASIN

AUSTRAL BASIN

NEUQUEN BASIN

CUYO BASIN

GOLFO SAN JORGEBASIN

10 km

10 km

10 km

Platform: Austral Basin (Chile and Argentina)

C H I L E

A R G E N T I N A

A T L A N T I C O C E A N

57.1

29.3

12.0

6.1

4.3

1.4

21.7

13.1

10.6

BOE(MMboe)

20.3

10.2

3.8

5.0

3.7

1.1

4.1

2.5

2.7

Oil andCondensates

(MMbbl)

295.8220.6Proven plus Probable plus Possible

164.4114.7Proven plus Probable

63.049.0ProvenTotal

-0.2Possible

-2.2Probable

-1.7ProvenArgentina

-105.6Possible

-63.6Probable

-47.4ProvenChile

Present Worth at 10%(US$ Million)

at US$50 per bbl

Gas(BCF)

ClassificationCountry

RESERVES: 80% in Chile / 20% in Argentina 35% Oil / 65% Gas

RESOURCES:

39.2115.120.048.3275.22.4Total

12.8-12.8---Argentina

26.4115.17.248.3275.22.4Chile

Total (MMboe)Gas (BCF)Oil (MMbbl)Total (MMboe)Gas (BCF)Oil (MMbbl)

Prospective Resources(Best Estimate)

Contingent Resources(Best Estimate)

Hydrocarbon

Reserves Summary (DeGolyer & MacNaughton)

CPR Date: 10 May 2006

* Source: DeGolyer and McNaughton (definitions as per CPR).

20

5

5.2 MMbbls oil / 111.0 BCF gas


2.4 MMbbs / 275.2 BCF gas(Best Estimate)

Oil and Gas Fields Identified:

Fields in Production:

Proven + Probable Reserves*:

Possible Reserves*:

Contingent Resources*:

Seismic Coverage:

Wells Drilled:

Productive Reservoirs:

Target Depth Ranges:

Area:

Operator:

GEOPARK Working Interest:

Infrastructure:

2D- 4000km (2200 km reprocessed)3D- 733km² (6 surveys)

147

Cretaceous (Springhill) Jurassic(Tobifera)

6000-11000ft

440,000 Acres

GEOPARK

100%

Good roads, oil and gas pipelines

Producing Oil and Gas Fields: Key Statistics:

Fell Block (Chile): Production and Reserves

AU-CHI-60

10 km

A R G E N T I N A

E S T R E C H O

D E

M A G A L L A N E S

SANTIAGONORTE

MOLINO

NIKA

OVEJERO

PAMPA LARGA

Fell Block (Chile): New Production Processing Plants

DPP: Compression, Dehydrationand Dew Point Plant

§ Allows increased gas production capacity (up to 35mmcfd) and access to main 18” pipeline§Construction start-up: First Quarter 2007§ Estimated construction cost: US$ 6 MM (with associated

tank batteries and flowlines)§ Forecasted start-up: Third Quarter 2007

Santiago Norte TEG Plant-Completed December 2006

Pampa Larga Plant-Completed June 2006

Fell Block (Chile): 3D Seismic Programme

3D Acquisition:§Total Area: 473 km²§Start-up: Nov 13/06§Completed: Dec 27/06

Processing:§Start-up: Jan 2007§Completed: Estim Jun 2007

439000 449000 459000

4186

000

4196

000

4206

000

Gu-1

Gu-2

KA-1

KA-2KA-2A

KA-3

KAN-1

KAN-2

KAN-3

KAN-4

KAN-5

Mol-3

MunO-1

Ni-1

N-1001

Ni-2

Ni-3

Ni-4NiO-1

NiO-2

NiS-1

Ov-1

0-1001A

0-1001B

PL-10

PL-10APL-10BPL-11

PL-2

PL-3

PL-4

PL-5

PL-6

PL-7

PL-8

PL-9

San-2

SanN-1

SanN-1001

SanN-1002

SanN-2

SanN-3

Sau-1

loc 5

loc 6

loc 7loc 8

loc 11

loc 12

mov tierr a

Interpretation:§Underway (based on quick field processing)

440.000420.000

4.220.0004.200.000

4.180.0004.18

0.00

0

480.000460.000440.000420.000

AUTOR:DIBUJO: L.A.Lorenzetti

AU-CHI-7603 - 01 - 07

420 6 8 10 km

PARQUENACIONALPALI AIKE

SISMICA 3D REGISTRADA 2006

FECHA:

M. Vila

Bahía Posesión

Bahía Muni ción

Punta Tand y

Bahía Dirección

Bahía Santiago

Punta Barrosa

Faro Sateli te

4.22

0.00

04.

200.

000

A R G E N T I N A

E S T R E C H O

D E

M A G A L L A N E S

Punta Ane gada

Caleta Mun icìones

Faro Ce rro Di recciòn

Faro Punta Anegad a

Pto. Muni ciòn

SISTEMA GEODESICO : UTM INTERNATIONAL

ARCHI VOESCALA

CUENCA AUSTRAL - CHILEAREA FELL

CEOP - MAGALLANES

REGISTRACION DE SISMICA 3D

PARQUE NACIONAL

FECHA MODIF:

R E F E R E N C I A S

Asen tamie ntoBdo. O`higgins

460.000

SISMICA 3D A REGISTRAR EN1er SEMESTRE 2007

DICKY

SANTIAGO

MONTE AYMOND

3D DICKY68 km2

3D MONTE AYMOND80 km2

3D SANTIAGO325 km2

Villa PuntaDelgada

440.000420.000

4.220.0004.200.000

4.180.0004.18

0.00

0

480.000460.000440.000420.000

AUTOR:DIBUJO: L.A.Lorenzetti

AU-CHI-7603 - 01 - 07

420 6 8 10 km

PARQUENACIONALPALI AIKE

SISMICA 3D REGISTRADA 2006

FECHA:

M. Vila

Bahía Posesión

Bahía Muni ción

Punta Tand y

Bahía Dirección

Bahía Santiago

Punta Barrosa

Faro Sateli te

4.22

0.00

04.

200.

000

A R G E N T I N A

E S T R E C H O

D E

M A G A L L A N E S

Punta Ane gada

Caleta Mun icìones

Faro Ce rro Di recciòn

Faro Punta Anegad a

Pto. Muni ciòn

SISTEMA GEODESICO : UTM INTERNATIONAL

ARCHI VOESCALA

CUENCA AUSTRAL - CHILEAREA FELL

CEOP - MAGALLANES

REGISTRACION DE SISMICA 3D

PARQUE NACIONAL

FECHA MODIF:

R E F E R E N C I A S

Asen tamie ntoBdo. O`higgins

460.000

SISMICA 3D A REGISTRAR EN1er SEMESTRE 2007

DICKY

SANTIAGO

MONTE AYMOND

3D DICKY68 km2

3D MONTE AYMOND80 km2

3D SANTIAGO325 km2

Villa PuntaDelgada

Fell Block (Chile): Opportunity Inventory

A R

G E

N T

I N

A

O C

E A

N O

A T

L A

N T

I C

O

O C

E A

N O

P

A C

I F

I C O

BLOQUE FELL

AUSTRALCUENCA

C H

I L

E

MAPA DE UBICACION

MARTIN

BRAZONORTE

TETERA

DICKY

DICKY O.

SANTIAGONORTE

ESCORIAL

TANDY

MTE. AY ORIENTAL

MTE. AY. NUEVO

GUANACO

MUNICION O.

MATA NEGRA

MOGOTE

MURTILLAD. NORTE

FARO

PUNTADELGADA

MOLINO

AU-CHI-60

NIKA

OVEJERO

K.AIKE

10 km

A R G E N T I N A

E S T R E C H O

D E

M A G A L L A N E S

M.A. ESTRATIGRAFICOP. LARGA

SAUCE

TUMBEROESTE

K.AIKESUR

DORADOSUR (Sp)

DORADOSUR (Tc)

LIMITE 3D EXISTENTE

BLOQUE FELL

PARQUE NACIONAL

LIMITE 3D PROPUESTA

PETROLEO PROBABLE

PETROLEO PROBADO

GAS PROBADO

GAS POSIBLE

GAS PROBABLE

PROSPECTO / LEAD

LEAD EN ALTO PELADO

PETROLEO POSIBLE

RESERVAS CERTIFICADAS

RESERVAS CERTIFICADAS

DE PETROLEO

DE GAS

REFERENCIAS

Del Mosquito Block (Argentina): Production and Reserves


Producing oil and gas fields:

Wells in Production:


Possible Reserves*:

Seismic Coverage:

Wells Drilled:

Oil and Gas Objectives:


Area:

Operator:


Infrastructure:

2

7



2D- 620 km (530 km reprocessed)3D- 562 km² (3 surveys)

42

Tertiary (Magallanes)Cretaceous (Spring Hill)Jurassic (Tobifera)

2000-6000ft

190,000 Acres

GEOPARK

100%

Roads, processing and storagefacilities, Camp and maintenance facility


DEL MOSQUITO NORTEFIELD

DEL MOSQUITOFIELD

10 km

DEL MOSQUITO

BLOCK

C H I L E

N

Del Mosquito Block (Argentina): Production Facilities

Del Mosquito Block (Argentina): 3D Seismic Programme

5 km

111

222333

444

555

666

101010

999

888

7

Condor 3D Seismic Survey(401 sq km)

Del Mosquito Block (Argentina): Opportunity Inventory

C H I L E

ARGENTINA

PROVEN OIL

PROBABLE OIL

PROVEN GAS

PROBABLE GAS

PROSPECTS

LEADS

ATLA

NTI

C O

CEAN

PAC

IFIC

OC

EAN

LOCATION MAP

10 km

LAGUNA DELMOSQUITO

LEAD

SOUTHERNFLANKLEAD

CAÑADON FRAILE SURLEADS

CAÑADON FRAILELEAD

EASTERN FLANKPROSPECTS

4

3

2

1

6

7

8

9

10

CAÑADON LUCKLEAD

CAMPO LEANDROPROSPECT

DOS LAGUNASLEAD

M A R

A R G E N T I N O

ZANJA DINEROPROSPECT

Río Grande

C H

I L

EAMB.x-1

CDJ.x-1

CLP.x-1

2

3ACh.x-1

LoC.x-1

PMy.x-1

RUTA 40

Río Grande

C H

I L

EAMB.x-1

CDJ.x-1

CLP.x-1

2

3ACh.x-1

LoC.x-1

PMy.x-1

RUTA 40


1

2

296 Mbbl oil

1103 Mbbl oil

Oil and Gas Fields Identified:

Wells in Production:


Possible Reserves*:

Seismic Coverage:

Wells Drilled:

Productive Reservoirs:


Area:

Operator:


Infrastructure:

2D – 341 km

8

La Manga (J), Vaca Muerta (K), Agrio(K), Grupo Neuquén (K).

3937-12139 ft

75,663 Acres

GEOPARK

100%

Roads and facilities


Cerro Doña Juana & Loma Cortaderal (Argentina)

Ì





PLAN



In Region



Potential

ÌÌÌ Ì


MARKETStrengthening


Underpinning

Plan: 2007 Work Programme

Fell Block - Chile

Del Mosquito Block - Argentina

Chile 2007CAPEX Budget:US$ 30.7 MM

Argentina 2007CAPEX Budget:US$ 4.2 MM

Risk-Balanced Approach: Production, Development and Exploration Works

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Workovers 1 well / .2 MM u$s

3D Seismic

Development Drilling 2 wells / 2 MM u$s

Exploration Drilling 2 wells / 2 MM u$s

Facilities Construction DMN Battery

400 km2 / 3.6 MM u$s

Time / Activities 2006 2007

2007 work programme focus is to drill (12 wells) to increase production and reserves.

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Apr May Jun Jul Aug Sep Oct Nov Dec

Workovers

3D Seismic

Development Drilling

Exploration Drilling

Facilities Construction

2006 2007Time / Activities

10 WO / 4.0 MM u$s

Mar

600 Km2 / 8 MM u$s

Pipelines - PL Plant TEG, DPP & Piping / 9 MM u$S

8 wells / 18 MM u$s

Work Programme: Rigs

Workover Rig:§ Creating service company and acquired 50% interest in

workover rig providing continuous rig availability§ Rig began operations in Chile in Q4 2006

The 2007 Fell Block work programme requires one workover rig (for well rehabilitation) and onedrilling rig (for development and exploration drilling).

Drilling Rig:§ Contractor: Quintana WellPro§ Rig: 1000 HP SJ§ Depth Capacity: 10,000 feet§ Arrival Date: 15 February 2007 (Punta Arenas)§ Expected Spud Date: 31 March 2007 (Santiago Norte 1001)§ Contract Duration: 3 years (to 2010) – with 2 year extension option

ÌCAPITAL




Equipment in Place



In Region



Potential

ÌÌÌ Ì


MARKETStrengthening


Underpinning

Capital: Necessary ResourcesASSETS

Amounts in US$’000Six months

period endedJune 2006

Six monthsperiod endedJune 2005

Yearended

December 2005

Intangible fixed assets 4,887 942 1,728

Property, Plant and Equipment 4,786 1,479 3,000

Non current receivables 1,360 237 643

NON CURRENT ASSETS 11,033 2,658 5,371

Cash and cash equivalent 32,813 241 2,403

Other (including receivables and inventory) 1,897 593 853

CURRENT ASSETS 34,619 834 3,448

ASSETS 45,652 3,492 8,819

EQUITY AND LIABILITIES

Share capital and share premium 52,626 20 20

Reserves 2,949 3,264 3,312

Retained earnings (5,180) (2,406) (2,406)

Loss for the period / year (6,841) (586) (3,211)

EQUITY 43,554 292 (2,285)

Convertible debt and preferred shares - 2,649 8,016

Provision for decommissioning 70 42 71

Long-term liabilities 70 2,691 8,087

Current liabilities 2,028 509 3,017

LIABILITIES 2,098 3,200 11,104

EQUITY AND LIABILITIES 45,652 3,492 8,819

§Cash in the bank at the end of 2006: US$39 MM

§Balance Sheet was strengthened through equityissuance and debt repayment:- IFC Equity Investment: US$10 MM (Feb 06)- AIM Listing: US$40 MM (May 06)

§Additional US$20 MM raised from IFC in Dec 06by a 6 year loan (1 year grace period).

§Fully funded CAPEX work programme for 2007of US$35 MM

§Over US$90 MM raised to date for the project

Ì






Equipment in Place



In Region



Potential

ÌÌÌ Ì


MARKET

Market: Opportunity

Long Term:

• General uplifting from expected rationalization of regionalprices – e.g. Santiago US$7/mmbtu, Bolivia border:US$5.50/mmbtu, Austral: US$ 1.00-2.00/mmbtu

• Relaxing of price controls in Argentina

Short / Intermediate Term

• The largest consumer of gas in the region (Methanex), at350 million cubic feet per day, is located in Chile 80 kmfrom GeoPark’s Fell Block. Methanex produces 12% ofthe world’s methanol from its US$1.2 Billion Punta Arenasplant.

• 70% of the Methanex gas supply comes from Argentinaand 30% is supplied from Chile – with all of the gasdelivered through pipelines that cross the Fell Block.

• Argentina Government has imposed restrictions on gasexports to Chile and introduced an export tax(US$2.25/mmbtu) which, if paid by producer, rendersArgentine gas uneconomic to produce. Methanex hasindicated it will absorb a portion of this tax to securecontinued supply.

• ENAP (the State Company of Chile) is alsounderperforming in its gas deliveries to Methanex.

BAHIA BLANCA

BUENOS AIRES

BRAZIL

SANTIAGO

BOLIVIA

ARGENTINA

CHILE

PERU

PUNTA ARENAS

CONCEPCION

TOCOPILLA

MEJILLONES

SANTA CRUZCUIABA

SAO PAULO

URUGUAYANA

URUGUAY

PARAGUAY

ASUNCION

MONTEVIDEO

Brazilan Gas PricesDomestic Supply:US$2.60/mcf @ well headUS$4.50/mcf @ City GateBolivian imports:US$4.90/mcf @ City Gate

Argentine Gas PricesDomestic SupplyUS$2.30/mcf @ City GateBolivian imports:>US$5.45/mcf @ City Gate

Bolivian Gas PricesUS$1.45/mcf @ well headUS$5.20/mcf @ Argentine borderUS$3.30/mcf @ Brazilian border**

AustralUS$1.00/mcf @ well head*

Chilean Gas PricesDomestic SupplyUS$1.65/mcf @ well headArgentine contract imports:US$0.90 – 2.00/mcf @ City Gate

LNG PricesApprox. US$6 - 7/mcf+

NeuquenUS$1.30/mcf @ well head*

BAHIA BLANCA

BUENOS AIRES

BRAZIL

SANTIAGO

BOLIVIA

ARGENTINA

CHILE

PERU

PUNTA ARENAS

CONCEPCION

TOCOPILLA

MEJILLONES

SANTA CRUZCUIABA

SAO PAULO

URUGUAYANA

URUGUAY

PARAGUAY

ASUNCION

MONTEVIDEO

Brazilan Gas PricesDomestic Supply:US$2.60/mcf @ well headUS$4.50/mcf @ City GateBolivian imports:US$4.90/mcf @ City Gate

Argentine Gas PricesDomestic SupplyUS$2.30/mcf @ City GateBolivian imports:>US$5.45/mcf @ City Gate

Bolivian Gas PricesUS$1.45/mcf @ well headUS$5.20/mcf @ Argentine borderUS$3.30/mcf @ Brazilian border**

AustralUS$1.00/mcf @ well head*

Chilean Gas PricesDomestic SupplyUS$1.65/mcf @ well headArgentine contract imports:US$0.90 – 2.00/mcf @ City Gate

LNG PricesApprox. US$6 - 7/mcf+

NeuquenUS$1.30/mcf @ well head*

Market: Strategic Position

A R G E N T I N AA R G E N T I N A

C H I L EC H I L E

METHANEXPLANT

FELL BLOCK

DELMOSQUITO

BLOCK

Ì



POSITION


Equipment in Place



In Region



Potential

ÌÌÌ Ì


MARKETStrengthening


Underpinning

Position: Growth via Consolidation

§ Region: Resource rich and under-exploited. Ideal for atechnically proficient low cost independent.

§ Trends: Larger companies and state companies arerationalising because:

– Governments are pressing companies toinvest in, or sell, idle properties.

– Manpower shortages are restrictinginvestment.

– Size of fields favour smaller companies.– Repsol YPF, Petrobras, ENAP started

process.

§ Focus: Properties with production, development andexploration elements. Ability to kick-start stalled projects.

§ Approach: Move quickly when opportunities arise(backed by good science). More than 100 acquisitionopportunities screened. Negotiations and applicationsunderway.

§ Partnerships: IFC (World Bank), ENAP (State Companyof Chile), Methanex (largest regional gas consumer).

Building on a solid base to create an enterprise of meaningful scale – and increasingmarket value by:

Where We Are Going

Growing Revenues: Increasing production from existing reserves by wellrehabilitation, facility and infrastructure construction, and drilling newdevelopment wells.

Growing Reserves: Finding new oil and gas fields and converting prospectiveand contingent resources and possible reserves into proved and probablereserves

Improving Economics: Increasing gas market prices; reducing operatingcosts, increasing efficiencies

Expanding Opportunities: Acquiring new projects and companies withstrategic fit at favourable terms

Expanding Capabilities: Continue investing in people and technical know-how– and acquire necessary equipment and services

Building Capital: Strengthening the balance sheet and developing creativefinancing solutions for future growth

Giving Back: Providing attractive returns to shareholders; rewardingemployees; supporting local communities; and protecting the environment

§ For further information please visit our website: www.geo-park.com

§ You may also contact us directly by e-mail or at our office:

§ Gerald E. O’Shaughnessy - [email protected]

§ James F. Park - [email protected]

§ Argentina Office: Florida 981, 4th FloorC1005AAS - Buenos Aires, ArgentinaTel: +54 11 4312-9400Fax: +54 11 4312-0149

§ GeoPark is listed on the Alternative InvestmentMarket (AIM) of the London Stock Exchange

§ Ordinary Share Symbol: GPK

Contact Information

Documents

OilBarrel Conference, London, February 2007