GeoPark Enters Venezuela Production Contract and Announces Change of Control

GeoPark signed a 25-year production participation contract for Venezuela’s Bare Block, where it will operate with a 65% net participating interest and fund all capital expenditures. Grupo Gilinski became GeoPark’s controlling shareholder after receiving more than 42 million new shares, raising its stake to 56.3%, potentially 58.4% if specified milestones are met. Gilinski can nominate at least five directors and must launch a tender offer within 90 days to buy the remaining shares at $12.22 per share.