Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €7.69, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Oil and Gas industry in Europe. Total returns to shareholders of 1.3% over the past three years. Announcement • Jun 10
GeoPark Limited, Annual General Meeting, Jul 14, 2026 GeoPark Limited, Annual General Meeting, Jul 14, 2026. Location: richmond house, 12 par - la - ville road, hamilton hm 08., Bermuda Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €9.42, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Oil and Gas industry in Europe. Total returns to shareholders of 26% over the past three years. Announcement • Apr 24
GeoPark Limited to Report Q1, 2026 Results on May 06, 2026 GeoPark Limited announced that they will report Q1, 2026 results After-Market on May 06, 2026 Announcement • Mar 21
GeoPark Limited announced that it has received $107 million in funding from Colden Investments S.A. On March 20, 2026, GeoPark Limited closed the transaction. The transaction included participation from single investor. The company has received securities pursuant to Regulation D. Announcement • Mar 05
GeoPark Limited announced that it expects to receive $107 million in funding from Colden Investments S.A. GeoPark Limited entered into a Share Purchase Agreement for a private placement to issue 12,876,053 common shares at an issue price of $8.31 for the proceeds of $107,000,000.43 on March 5, 2026. Transaction involves participation of Colden Investments S.A as an investor. Shares have hold period of 18-month. Announcement • Feb 26
GeoPark Limited Declares Quarterly Cash Dividend, Payable on March 31, 2026 GeoPark Limited announced Quarterly cash dividend of $0.03 per share, or approximately $1.5 million, payable on March 31, 2026, to shareholders of record at the close of business on March 11, 2026, in line with the revised dividend program approved by the Board. Announcement • Dec 02
GeoPark Limited Provides Production Guidance for the Full Years 2025, 2026, 2027 and 2028 GeoPark Limited provided production guidance for the full years 2025, 2026, 2027 and 2028. For the year 2025, the company expects Production of 26,000 boepd-28,000 boepd.
For the year 2026, the company expects Production of 27,000 boepd -30,000 boepd.
For the year 2027, the company expects Production of 32,000 boepd-34,000 boepd.
For the year 2028, the company expects Production of 44,000 boepd-46,000 boepd. Announcement • Nov 07
Geopark Limited Announces Quarterly Cash Dividend, Payable on December 4, 2025 GeoPark Limited announced quarterly cash dividend of $0.03 per share, or approximately $1.5 million, payable on December 4, 2025, to shareholders of record at the close of business on November 19, 2025, in line with the revised dividend program approved by the Board following the completion of the Vaca Muerta acquisition, and considering GeoPark’s projected capital needs. Dividend suspension commencing with the 3Q2026 results. The Board will reassess dividends once positive free cash flow generation resumes after the peak investment phase, consistent with GeoPark’s disciplined, returns-based capital framework. Announcement • Oct 30
Parex Resources Inc. (TSX:PXT) proposed to acquire remaining majority stake in GeoPark Limited (NYSE:GPRK). Parex Resources Inc. (TSX:PXT) proposed to acquire remaining majority stake in GeoPark Limited (NYSE:GPRK) on September 4, 2025. A cash consideration valued at $9 per share will be paid by Parex Resources Inc. Upon completion, Parex Resources Inc. will own 100% stake in GeoPark Limited. The Transaction consideration would be funded by Parex' existing cash and other sources of financing that have been advanced by Parex.
The transaction is subject to approval of offer by target shareholders, definitive agreement and third party approval needed. As on October 15, 2025: After six weeks of not engaging, the Chief Executive Officer of GeoPark informs the Chief Executive Officer of Parex in writing that the GeoPark Board has summarily rejected the Proposal.
The Bank of Nova Scotia acted as financial advisor for Parex Resources Inc. Adam Givertz and Stan Richards of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for Parex Resources Inc. Burnet, Duckworth & Palmer LLP acted as legal advisor for Parex Resources Inc. Appleby acted as legal advisor for Parex Resources Inc. Innisfree M&A Incorporated acted as information agent for Parex Resources Inc. Announcement • Oct 22
GeoPark Limited Provides Production Guidance for the Full Year 2025 GeoPark Limited provided production guidance for the full year 2025. For the year, the company expects Production of ~30,000 boepd. Announcement • Sep 26
GeoPark Limited (NYSE:GPRK) entered into an agreement to acquire 12,355 acres Loma Jarillosa Este and Puesto Silva Oeste blocks in Neuquen Province, Argentina from Pluspetrol S.A. for approximately $120 million. GeoPark Limited (NYSE:GPRK) entered into an agreement to acquire 12,355 acres Loma Jarillosa Este and Puesto Silva Oeste blocks in Neuquen Province, Argentina from Pluspetrol S.A. for approximately $120 million on September 25, 2025. GeoPark will pay $117.99 million at closing, funded with available cash, with a security deposit of $22.7 million on the date Pluspetrol and GeoPark entered into the agreement. The agreed price represents a valuation of approximately $9,550 per acre. Amount is subject to customary price adjustments.
The transaction is expected to close before year-end 2025. Announcement • Aug 06
GeoPark Limited Announces Quarterly Cash Dividend, Payable on September 4, 2025 GeoPark Limited announced Quarterly cash dividend of $0.147 per share, or approximately $7.5 million, payable on September 4, 2025, to shareholders of record at the close of business on August 19, 2025. Announcement • Jul 16
GeoPark Limited to Report Q2, 2025 Results on Aug 06, 2025 GeoPark Limited announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 Announcement • Jun 25
GeoPark Limited, Annual General Meeting, Jul 30, 2025 GeoPark Limited, Annual General Meeting, Jul 30, 2025. Location: clarendon house, 2 church street, 4th floor, hamilton hm 11., Bermuda Announcement • May 08
Geopark Limited Declares Quarterly Cash Dividend, Payable on June 5, 2025 GeoPark Limited declared a quarterly cash dividend of $0.147 per share (approximately $7.5 million), payable on June 5, 2025. Announcement • Apr 24
GeoPark Limited to Report Q1, 2025 Results on May 07, 2025 GeoPark Limited announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 07, 2025 Announcement • Feb 26
GeoPark Limited Announces Pro Forma 2P Reserve Replacement of 480% GeoPark Limited announced its independent oil and gas reserves assessment1, certified by D&M under PRMS methodology, as of December 31, 2024. The Company's 2024 year-end reserves, related net present values, and other information included in this release incorporate pro forma figures reflecting the acquisition of four unconventional hydrocarbon blocks in Vaca Muerta, Argentina. This acquisition became effective on July 1, 2024, and is undergoing customary regulatory approvals from the respective provincial governments. 2024 Year-End D&M Certified Oil and Gas Reserves and Highlights: GeoPark's 2024 year-end reserves reflect the ongoing upgrade and recalibration of the Company's asset base, driven by the incorporation of the Vaca Muerta blocks and adjustments in its Colombian portfolio. 2P reserves increased 41% year-on-year on a pro-forma basis, supported by the addition of 74.6 mmboe from Vaca Muerta. At December 31, 2024, 1P reserves of 102.0 mmboe and 2P reserves of 162.2 mmboe showed that the Company extended its 1P RLI by 54% to 8.2 years, and its 2P RLI by 44% to 13.1 years. Organic 2P reserves (excluding the Vaca Muerta block) decreased by approximately 27.5 mmboe, after producing 12.4 mmboe in 2024, mainly due to technical revisions in mature fields, with the Llanos 34 Block accounting for 48% of the reduction. This decline was driven by updated reservoir performance assessments, well-type revisions, and factors such as reduced drilling activity and suboptimal well performance, and was partially offset by additional reserves from ongoing high-value, low-risk drilling campaigns and reservoir management efficiencies. Looking ahead, GeoPark remains focused on the full optimized development of the Llanos 34 Block, with material net 2P reserves at 64.5 mmboe as estimated by D&M. The strategy includes expanding waterflooding, piloting polymer flooding, targeted workover campaigns, advanced technologies to reduce water production and addressing potential facility bottlenecks to enhance production capacity. The success of these efforts would mitigate decline rates, improve long-term performance, and maximize recovery from the asset. Following 2024's strategic progress, GeoPark's portfolio is now strategically balanced and diversified, combining the high growth trajectory and potential of the Vaca Muert a blocks with the established, mature production flows from the Llanos 34 and CPO-5 blocks. Approximately 90% of the Company's 2P reserves are concentrated in these three core assets, providing a focused platform for delivery going forward. Announcement • Jan 21
GeoPark Limited to Report Q4, 2024 Results on Mar 05, 2025 GeoPark Limited announced that they will report Q4, 2024 results After-Market on Mar 05, 2025 Announcement • Jan 17
Geopark Limited Provides Production Guidance for the Full Year 2025 GeoPark Limited provided production guidance for the full year 2025. For the year, the company expects Average Production of 35,000 boepd (± 2,500 boepd). Announcement • Nov 13
GeoPark Limited Announces Exploration Success At Confluencia Norte GeoPark Limited announced the successful start of production in the Confluencia Norte Block (GeoPark non-operated, 50% WI) in Rio Negro, Argentina. This marks a major de-risking achievement in GeoPark's partnership with Phoenix Global Resources ("PGR") in the Vaca Muerta formation. The Confluencia Norte Block recently completed its first pad of three unconventional wells, which began production in mid-October. This development confirms the presence of the Vaca Muerta formed at the westernmost edge of the block. The pad includes a vertical pilot well, drilled specifically for data acquisition, along with three horizontal wells reaching a total measured depth of 6,300 meters, with 3,000 meters of lateral extension. A high intensity fracturing program was executed across 135 stages, resulting in a current gross production rate of 4,000 bopd during the ongoing flowback and well testing phase, with production currently being transported to and marketed through The Mata Mora Norte Block facility. The wells are still cleaning up and are expected to reach their peak production within 90 days of the production start, highlighting the block's rich petrophysical properties, which are comparable to those found in the Mata Mora Norte Block (Geo Park non-operated, 45% WI). As part of its exploration commitment in the Confluencia Norto and Sur blocks, PGR has completed the acquisition of 228 km2 of 3D seismic data, which is currently undergoing interpretation. This data will be crucial in defining the upcoming drilling program, which includes a further four wells that PGR will drill as part of its commitment. PGR and GeoPark are working closely to expand the exploration and development of these assets. Declared Dividend • Nov 12
Third quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 21st November 2024 Payment date: 6th December 2024 Dividend yield will be 7.4%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 29% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: US$0.49 (vs US$0.44 in 3Q 2023) Third quarter 2024 results: EPS: US$0.49 (up from US$0.44 in 3Q 2023). Revenue: US$159.5m (down 17% from 3Q 2023). Net income: US$25.1m (up 1.4% from 3Q 2023). Profit margin: 16% (up from 13% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Oct 09
GeoPark Limited to Report Q3, 2024 Results on Nov 06, 2024 GeoPark Limited announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Declared Dividend • Aug 19
Second quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 29th August 2024 Payment date: 12th September 2024 Dividend yield will be 6.4%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 29% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: US$0.49 (vs US$0.59 in 2Q 2023) Second quarter 2024 results: EPS: US$0.49 (down from US$0.59 in 2Q 2023). Revenue: US$190.2m (up 4.3% from 2Q 2023). Net income: US$25.7m (down 24% from 2Q 2023). Profit margin: 14% (down from 19% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 37% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €8.20, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Negligible returns to shareholders over past three years. New Risk • Aug 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (174% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (16% net profit margin). Announcement • Jul 22
GeoPark Limited to Report Q2, 2024 Results on Aug 14, 2024 GeoPark Limited announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 14, 2024 Announcement • Jun 18
GeoPark Limited, Annual General Meeting, Jul 24, 2024 GeoPark Limited, Annual General Meeting, Jul 24, 2024. Location: clarendon house, 2 church street, 4th floor, hamilton hm 11, bermuda, Bermuda New Risk • May 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (174% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change). Profit margins are more than 30% lower than last year (16% net profit margin). Upcoming Dividend • May 24
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 31 May 2024. Payment date: 14 June 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.1%). Reported Earnings • May 16
First quarter 2024 earnings released: EPS: US$0.55 (vs US$0.45 in 1Q 2023) First quarter 2024 results: EPS: US$0.55 (up from US$0.45 in 1Q 2023). Revenue: US$167.5m (down 8.2% from 1Q 2023). Net income: US$30.2m (up 15% from 1Q 2023). Profit margin: 18% (up from 14% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Apr 27
GeoPark Limited to Report Q1, 2024 Results on May 15, 2024 GeoPark Limited announced that they will report Q1, 2024 results After-Market on May 15, 2024 Announcement • Apr 26
GeoPark Limited Provides Production Guidance for the Full Year 2024 GeoPark Limited provided production guidance for the full year 2024. For the year, the company expects consolidated production guidance was adjusted to 35,500 boepd - 39,000 boepd. Upcoming Dividend • Mar 12
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 19 March 2024. Payment date: 28 March 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 5.8%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (3.4%). Reported Earnings • Mar 07
Full year 2023 earnings released: EPS: US$1.98 (vs US$3.78 in FY 2022) Full year 2023 results: EPS: US$1.98 (down from US$3.78 in FY 2022). Revenue: US$756.6m (down 28% from FY 2022). Net income: US$111.1m (down 51% from FY 2022). Profit margin: 15% (down from 21% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Mar 07
GeoPark Limited Declares Quarterly Cash Dividend, Payable on March 28, 2024 GeoPark Limited - announced that its Board of Directors has declared a quarterly cash dividend of $0.136 per share ($7.5 million in the aggregate) payable on March 28, 2024, to the shareholders of record at the close of business on March 20, 2024. Announcement • Jan 18
GeoPark Limited Provides Production Guidance for the Year 2024 GeoPark Limited provided production guidance for the year 2024. 2024 production guidance of 37,000-40,000 boepd (assuming no production from the exploration drilling program), 1-9% production growth versus full-year 2023. Announcement • Dec 21
GeoPark Limited Appoints Jaime Caballero Uribe as CFO, Effective January 15, 2024 GeoPark Limited announced the appointment of Jaime Caballero Uribe to the position of CFO, effective January 15, 2024. Jaime will be responsible for GeoPark's financial stewardship and associated activities, including capital allocation, business planning, performance management and execution, oil and gas marketing/commercial, capital markets, shareholder value, tax, financial reporting and information technology. He brings more than 25 years of industry and finance experience to GeoPark, including senior positions in large corporations as well as in start-ups and entrepreneurial businesses. Until August 2023, Jaime was Group CFO at Ecopetrol the largest corporation in Colombia and one of the 400 largest companies in the world where he helped the management team achieve various performance records, including the delivery of more than $20 billion in growth financing and debt refinance. During his tenure, he was recognized by the Institutional Investor publication as one of the top three sector CFOs in Latin America. Previously, he held multiple positions at BP plc over 17 years, where his most recent appointment was CFO for the Brazil Region, which includes Colombia, Uruguay and Venezuela. Jaime holds a degree in Law from Universidad de los Andes, an MBA in Energy Business from Fundaçao Getulio Vargas, and certificates in CFO Excellence from Wharton and Energy Innovation and Emerging Technologies from Stanford. Buying Opportunity • Dec 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.1%. The fair value is estimated to be €9.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Upcoming Dividend • Nov 17
Upcoming dividend of US$0.13 per share at 6.1% yield Eligible shareholders must have bought the stock before 24 November 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 6.1%. Within top quartile of German dividend payers (5.0%). Higher than average of industry peers (2.6%). Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: US$0.44 (vs US$1.24 in 3Q 2022) Third quarter 2023 results: EPS: US$0.44 (down from US$1.24 in 3Q 2022). Revenue: US$192.2m (down 26% from 3Q 2022). Net income: US$24.8m (down 66% from 3Q 2022). Profit margin: 13% (down from 28% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
GeoPark Limited Announces Quarterly Cash Dividend, Payable on December 11, 2023 GeoPark Limited announced that its Board of Directors has declared a quarterly cash dividend of $0.134 per share ($7.5 million in the aggregate) payable on December 11, 2023, to the shareholders of record at the close of business on November 27, 2023. Upcoming Dividend • Aug 16
Upcoming dividend of US$0.13 per share at 5.5% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 8.1% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.3%). Announcement • Aug 10
GeoPark Limited Announces Quarterly Cash Dividend, Payable on September 7, 2023 GeoPark Limited announced that its Board of Directors has declared a quarterly cash dividend of $0.132 per share ($7.5 million in the aggregate) payable on September 7, 2023, to the shareholders of record at the close of business on August 24, 2023. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: US$0.59 (vs US$1.13 in 2Q 2022) Second quarter 2023 results: EPS: US$0.59 (down from US$1.13 in 2Q 2022). Revenue: US$182.3m (down 41% from 2Q 2022). Net income: US$33.8m (down 50% from 2Q 2022). Profit margin: 19% (down from 22% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 1.6%. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jul 18
GeoPark Limited to Report Q2, 2023 Results on Aug 09, 2023 GeoPark Limited announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 09, 2023 Announcement • Jun 07
GeoPark Limited, Annual General Meeting, Jul 19, 2023 GeoPark Limited, Annual General Meeting, Jul 19, 2023, at 13:00 Coordinated Universal Time. Location: Clarendon House, 2 Church Street, 4 th Floor, Hamilton HM 11, Bermuda Hamilton Bermuda Agenda: To consider the re-election of directors; to appoint Pistrelli, Henry Martin y Asociados S.R.L. as independent auditors of the Company; to authorize the Audit Committee to fix the remuneration of the Auditors of the Company; and to discuss the audited consolidated financial statements for the fiscal year ended December 31, 2022, and the auditor's report thereon. Upcoming Dividend • May 10
Upcoming dividend of US$0.13 per share at 4.8% yield Eligible shareholders must have bought the stock before 17 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.9%). Reported Earnings • May 04
First quarter 2023 earnings released: EPS: US$0.46 (vs US$0.52 in 1Q 2022) First quarter 2023 results: EPS: US$0.46 (down from US$0.52 in 1Q 2022). Revenue: US$182.4m (down 27% from 1Q 2022). Net income: US$26.3m (down 15% from 1Q 2022). Profit margin: 14% (up from 12% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €9.50, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Oil and Gas industry in Europe. Total returns to shareholders of 81% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.42 per share. Upcoming Dividend • Mar 14
Upcoming dividend of US$0.13 per share at 4.4% yield Eligible shareholders must have bought the stock before 21 March 2023. Payment date: 31 March 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.4%). Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: US$3.83 (vs US$1.00 in FY 2021) Full year 2022 results: EPS: US$3.83 (up from US$1.00 in FY 2021). Revenue: US$1.05b (up 52% from FY 2021). Net income: US$224.4m (up 267% from FY 2021). Profit margin: 21% (up from 8.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 9.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 3.4%. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Feb 03
GeoPark Limited to Report Q4, 2022 Results on Mar 08, 2023 GeoPark Limited announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Mar 08, 2023 Announcement • Jan 20
GeoPark Limited Provides Production Guidance for the Year 2023 GeoPark Limited provided production guidance for the year 2023. For 2023 production guidance of 39,500-41,500 boepd (assuming no production from the exploration drilling program). Upcoming Dividend • Nov 16
Upcoming dividend of US$0.13 per share Eligible shareholders must have bought the stock before 22 November 2022. Payment date: 07 December 2022. Payout ratio is a comfortable 2.4% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (0.9%). Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Brian Maxted was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: US$1.24 (vs US$0.61 in 3Q 2021) Third quarter 2022 results: EPS: US$1.24 (up from US$0.61 in 3Q 2021). Revenue: US$258.2m (up 48% from 3Q 2021). Net income: US$73.4m (up 98% from 3Q 2021). Profit margin: 28% (up from 21% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 13% p.a. on average during the next 3 years compared to a 4.5% decline forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buying Opportunity • Nov 05
Now 23% undervalued Over the last 90 days, the stock is up 37%. The fair value is estimated to be €19.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 14% per annum. Earnings is also forecast to decline by 15% per annum over the same time period. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 15% share price gain to €13.50, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.95 per share. Upcoming Dividend • Aug 17
Upcoming dividend of US$0.13 per share Eligible shareholders must have bought the stock before 24 August 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.5%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: US$1.13 (vs US$0.04 loss in 2Q 2021) Second quarter 2022 results: EPS: US$1.13 (up from US$0.04 loss in 2Q 2021). Revenue: US$311.2m (up 88% from 2Q 2021). Net income: US$67.9m (up US$70.3m from 2Q 2021). Profit margin: 22% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 8.0%, compared to a 43% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Aug 02
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Brian Maxted was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €11.50, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total loss to shareholders of 23% over the past three years. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: US$0.52 (vs US$0.17 loss in 1Q 2021) First quarter 2022 results: EPS: US$0.52 (up from US$0.17 loss in 1Q 2021). Revenue: US$249.2m (up 70% from 1Q 2021). Net income: US$31.0m (up US$41.3m from 1Q 2021). Profit margin: 12% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 59% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 16
Upcoming dividend of US$0.082 per share Eligible shareholders must have bought the stock before 23 March 2022. Payment date: 31 March 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (4.8%). Reported Earnings • Mar 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$1.01 (up from US$3.84 loss in FY 2020). Revenue: US$688.5m (up 75% from FY 2020). Net income: US$61.1m (up US$294.1m from FY 2020). Profit margin: 8.9% (up from net loss in FY 2020). Oil reserves Proven reserves: 81.947 MMbbls Gas reserves Proven reserves: 34.946 Bcf Combined production Oil equivalent production: 12.697 MMboe (13.448 MMboe in FY 2020) Revenue exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 8.1%, compared to a 61% growth forecast for the oil industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Nov 15
Upcoming dividend of US$0.041 per share Eligible shareholders must have bought the stock before 22 November 2021. Payment date: 07 December 2021. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.9%). Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS US$0.61 (vs US$0.07 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$174.0m (up 77% from 3Q 2020). Net income: US$37.0m (up US$41.4m from 3Q 2020). Profit margin: 21% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Aug 09
Upcoming dividend of US$0.041 per share Eligible shareholders must have bought the stock before 16 August 2021. Payment date: 31 August 2021. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.1%). Reported Earnings • Aug 05
Second quarter 2021 earnings released: US$0.041 loss per share (vs US$0.33 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$165.7m (up 198% from 2Q 2020). Net loss: US$2.50m (loss narrowed 87% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Reported Earnings • May 07
First quarter 2021 earnings released: US$0.17 loss per share (vs US$1.48 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$146.6m (up 10.0% from 1Q 2020). Net loss: US$10.3m (loss narrowed 89% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 24
Upcoming dividend of US$0.021 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 13 April 2021. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (4.6%). Reported Earnings • Mar 13
Full year 2020 earnings released: US$3.84 loss per share (vs US$0.95 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$393.7m (down 37% from FY 2019). Net loss: US$233.0m (down US$290.7m from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue beats expectations Revenue exceeded analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 42%, compared to a 36% growth forecast for the Oil and Gas industry in Germany. Is New 90 Day High Low • Mar 05
New 90-day high: €14.30 The company is up 59% from its price of €9.00 on 04 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €19.62 per share. Is New 90 Day High Low • Feb 07
New 90-day high: €10.80 The company is up 96% from its price of €5.50 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 34% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.24 per share. Is New 90 Day High Low • Dec 05
New 90-day high: €9.00 The company is up 22% from its price of €7.35 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Oil and Gas industry, which is up 43% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €19.86 per share. 
