London, January 2007

1600 1400 1200 PRODUCTION (BOEPD) 1000 800 600 400 200 0 1Q 06 2Q 06 3Q 06 4Q 06 1Q JAN 07 07* * *January 1 18, 2007 London, January 2007

Contents Introduction Investment Case: Fundamentals in Place 2006: Tangible Achievements People: Proven Oil Finding Team Platform: Producing Assets with Upside Plan: Full Cycle Work Programme Capital: Necessary Resources Market: Right Place at Right Time Position: Opportunity to Grow

Introduction GEOPARK was founded to participate in the consolidation and rationalization of the oil and gas industry in Latin America. GEOPARK s mission is to become a leading oil and gas finder, operator and acquirer in the region by leveraging its technical expertise, cost management and commercial skills and its long term balanced approach to value creation.

Investment Case: Fundamentals in Place PEOPLE PLATFORM PLAN CAPITAL MARKET POSITION Proven Management Team with Depth and Strength Asset Base with Reserves and High Potential Full Cycle Risk- Balanced Work Program Balance Sheet Resources and Long Term Shareholders Favourable Strengthening Conditions Regional Advantages and Strategic Partnerships Promote Growth

2006: Tangible Achievements 2000 1800 1600 START-UP 3D SEISMIC PROGRAM IN ARGENTINA IFC US$ 10 MM EQUITY INVESTMENT COMPLETION OF 3D SEISMIC PROGRAM IN ARGENTINA AIM PUBLIC LISTING US$40 MM RAISED ACQUIRED 100% FELL BLOCK COMPLETION OF PIPELINE & PLANT EXPANSION PROJECT START-UP OF PRODUCTION IN CHILE (MOLINA FIELD) START-UP OF OVEJERO AND NIKA FIELDS IN CHILE ACQUISITION OF WORKOVER RIG WORKOVER IN ARGENTINA LONG TERM DRILLING RIG CONTRACT SIGNED START-UP OF 3D SEISMIC PROGRAM IN CHILE HANNOVER GAS PLANT LOI BEGIN WORKOVER PROGRAM IN CHILE START-UP OF SANTIAGO NORTE FIELD IN CHILE TEQ PLANT COMPLETE IFC US$ 20 MM LOAN FUNDS RECEIVED 3D SEISMIC PROGRAM COMPLETION IN CHILE DRILLING RIG ARRIVED IN CHILE 1400 BOEP/D 1200 1000 INDEPENDENT RESERVE REPORT (2P: 39 MM BOE) 800 600 400 200 0 Jan-06 Feb-06 Mar-06 A pr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Jan-07 * Oil and Gas Production (BOEPD) Underdelivery Compensation from ENAP- PL2 (BOEPD) * Jan 1-18

People: Management Organization DEL MOSQUITO BLOCK CDJ / LC BLOCKS Geosciences G. Hinterwimmer GEOPARK ARGENTINA Technical Support & Audit DeGolyer & MacNaughton Planning Leader Carlos Gulisano Operations G. Henderson SHAREHOLDERS Board of Directors Gerald O Shaughnessy (Chairman) James Park (CEO) Sir Michael Jenkins Christian Weyer Peter Ryalls GEOPARK HOLDINGS GEOPARK CHILE FELL BLOCK Financial Support & Audit Grant Thornton / Pricewaterhouse Senior Advisor Salvador Harambour Support M. Pérez de Solay Growth J. Park

People: Investing in Oil Finding Capabilities Name (Age) Profession Years Experience Previous Companies Gerardo Hinterwimmer (50) Geologist 25 YPF, Schlumberger, San Jorge, Chevron Gustavo Henderson (50) Engineer 26 BJ Services, San Jorge, Chevron Carlos Gulisano PhD (55) Geologist 26 YPF, San Jorge, Chevron Ivan Hidalgo (52) Engineer 28 ENAP, Halliburton Carlos Murut (50) Geologist 28 YPF, Tecpetrol, San Jorge, Chevron Maria Ester Lara PhD (50) Geophysicist 20 YPF,ARCO, Lagoven, San Jorge, Chevron Mario Vila PhD (47) Geophysicist 19 Total, Pan American (BP), Wintershall Juan Carlos Ferrero (45) Engineer 25 YPF, San Jorge, Chevron Guillermo Rossi PhD (46) Geophysicist 19 YPF, San Jorge, Chevron Pablo Berri (44) Geologist 16 Baker Huges, YPF, San Jorge, Chevron Mario Outon (44) Geologist 16 Repsol YPF, San Jorge, Chevron Ricardo Saldano (55) Engineer 29 YPF, Pluspetrol Augusto Zubillaga (36) Engineer 10 San Jorge, Chevron Federico Resio (30) Engineer 8 Chevron Guido Jimenez (57) Engineer 25 ENAP, Weatherford, Schlumberger, Halliburton Miguel Mallo (56) Engineer 22 Techint, McKee, San Jorge, Chevron Reconstitution of the core San Jorge team (discovered more than 600 MMbbl during the 1990 s and was eventually sold to Chevron for US$1.2 Billion in 1999). Group has a history of working together and is well respected in the region.

D-4 ABM.x-1 PMy.x-1 LoC.x-1 ACh.x-1 3 2 CDJ.x-1 CLP.x-1 D-A D-B M-1 Te-1 Te-3 D-6D-9 Fell-2 D-14 D-7 D-2 BN-1A D-8 D-1 Te-2 Fell-1 1 D-13 D-3 D-11 BN-3 12 D-10 MA-15 MA-10 T-7 MA-9 DO-3 D-5 MA-19 MA-7 T-1 BN-2 MA-31 MA-8 MA-1002 MA-6 DO-1 MA-22 MA-1001 T-3 20 29 MA-4 MA-13 MA-16 CG-1 26 23 MA-21 MA-14 24 MA-5 T-8 DO-2 30 MA-5BIS T-2 MA-17 28 MA-11 MA-2 MA-12 E-1 E MAO-1 18MA-25 27MA-11BIS MA-1 E-2 T-6AT-6 E-3 MA-3 T-5 PL-1A T-4 COZ-1 COZ-1A Mol-2Mol-1 PL-1 OK-1 PL-5 Mol-4 Mol-6 Mol-5 Mol-3 PL-10A PL-8 PL-10B 11 Mol-7 Bis PL-10 PL-2 PL-6 Mol-7 PL-4 PL-4BIS PL-7 PL-9 PL-3 Gu-1 Mun-1 PL-9BIS Gu-2 Sa-1 O-1001 MunO-1 N-2 Mun-3 CH-1 O-1 N-3 N-1 Mun-2 NO-2 Me-2 Me-1 N-4 NO-1 PDN-2 DorN-1 PDN-2A PDN-3 Dir-1 KAN-5 NS-1 PDN-1 KAN-4 PDN-1001 PD-8 PD-11 KAN-2 PD-6 PDO-1 PD-5 KAN-3 PDO-2 PD-3 PD-2 Mur-1 PD-1 KAN-1 PD-7 CN-1 PD-10 PD-4 Mog-1 KA-2A KA-2 SN-2 Dor-3 KA-3 KA-1 SN-1001 CN-2 F-2 F-1 SN-1 S-2 CN-3 MN-1 MN-2 SN-3 PS-1 S-1 DM.x-3 DMN.x-1 DMN.a-3 DMN.a-2 LV.x-1 EE 7 DM.x-1 31 25 21 19 22 23 29 30 4 27 14 8 11 13 9 5 18 17 10 24 15 16 33 32 12 20 CF.x-1 ZP.x-1 3 2 CNo.x-1 LDM.x-2 LDMS.x-1 SG-1 DL-1 DL-4 DL-3 C.VIRGENES Platform: Block Summary SOUTH AMERICA Country Basin Block Working Interest (%) Area (Acres) Fields (No.) NORTHWEST BASIN Chile Austral Fell 100 440,000 20 SALTA ARGENTINA Argentina Argentina Austral Neuquen Del Mosquito Cerro Dona Juana 100 100 190,000 35,954 2 1 P A C I F I C O C E A N CHILE Argentina Neuquen Loma Cortaderal 100 39,710 1 10 km CUYO BASIN LOMA CORTADERAL BLOCK (Arg) CERRO D. JUANA BLOCK (Arg) NEUQUEN BASIN SANTIAGO MENDOZA NEUQUEN BUENOS AIRES REFERENCES A T L A N T I C O C E A N PRODUCTIVE BASINS GEOPARK BLOCKS 4 blocks (3 Argentina, 1 Chile) 100% working interests Operatorship of all 4 blocks 705,664 acres under licence FELL BLOCK (Chile) 10 km COMODORO RIVADAVIA GOLFO SAN JORGE BASIN AUSTRAL BASIN DEL MOSQUITO BLOCK (Arg) 10 km Low cost operating areas Attractive fiscal terms Formerly state-owned oil company operated blocks with bypassed hydrocarbons Risk-balanced opportunities (production, development, exploration projects) 500 km

Platform: Blocks in Chile and Argentina Austral Basin Blocks (Chile and Argentina) Neuquen Basin Blocks (Argentina) DEL MOSQUITO BLOCK LOMA CORTADERAL BLOCK FELL BLOCK CERRO DOÑA JUANA BLOCK

Reserves Summary (DeGolyer & MacNaughton) RESERVES: 80% in Chile / 20% in Argentina 35% Oil / 65% Gas Country Classification Oil and Condensates (MMbbl) Gas (BCF) BOE (MMboe) Present Worth at 10% (US$ Million) (@ US$50/bbl) Chile Proven 2.7 47.4 10.6 - Probable 2.5 63.6 13.1 - Possible 4.1 105.6 21.7 - Argentina Proven 1.1 1.7 1.4 - Probable 3.7 2.2 4.3 - Possible 5.0 0.2 6.1 - Total Proven 3.8 49.0 12.0 63.0 Proven plus Probable 10.2 114.7 29.3 164.4 Proven plus Probable plus Possible 20.3 220.6 57.1 295.8 RESOURCES: Hydrocarbon Contingent Resources (Best Estimate) Prospective Resources (Best Estimate) Oil (MMbbl) Gas (BCF) Total (MMboe) Oil (MMbbl) Gas (BCF) Total (MMboe) Chile 2.4 275.2 48.3 7.2 115.1 26.4 Argentina - - - 12.8-12.8 Total 2.4 275.2 48.3 20.0 115.1 39.2

Building Value: Finding and Producing Oil and Gas OIL GEOPARK MARKET VALUE MARKET VALUE POTENTIAL HIGH BEST LOW P1 P2 P3 GAS UNCOMMERCIAL COMMERCIAL DISCOVERED HYDROCARBONS PROSPECT LEAD PLAY UNDISCOVERED HYDROCARBONS PROSPECTIVE RESOURCES CONTINGENT RESOURCES RESERVES PRODUCTION

Fell Block (Chile): Production and Reserves Producing Oil and Gas Fields: Key Statistics: Area: 440,000 Acres Operator: GEOPARK GEOPARK Working Interest: 100% Infrastructure: Good roads, oil and gas pipelines MOLINO PAMPA LARGA Seismic Coverage: Wells Drilled: 2D- 4000km (2200 km reprocessed) 3D- 260km² (3 surveys) 147 OVEJERO NIKA Productive Reservoirs: Target Depth Ranges: Cretaceous (Springhill) Jurassic (Tobifera) 6000-11000ft Oil and Gas Fields Identified: 20 Wells in Production: 4 SANTIAGO NORTE Proven + Probable Reserves*: Possible Reserves*: 5.2 MMbbls oil / 111.0 BCF gas 4.1 MMbbls oil / 105.6 BCF gas Contingent Resources*: 2.4 MMbbs / 275.2 BCF gas (Best Estimate) * Source: DeGolyer and McNaughton (definitions as per CPR).

Fell Block (Chile): New Gas Processing Plants Santiago Norte TEG Plant -Completed December 2006 Pampa Larga Plant -Completed June 2006 DPP: Compression, Dehydration and Dew Point Plant Allows increased gas production capacity (up to 35 mmcfd) and access to main 18 pipeline Design and engineering start-up: Fourth Quarter 2006 Estimated construction cost: US$ 6 MM (with associated tank batteries and flowlines) Forecasted start-up: Third Quarter 2007

Punta Barrosa Faro Satelite Faro Cerro Direcciòn Pto. Municiòn Caleta Municìones Punta Anegada Faro Punta Anegada Punta Tandy ESCALA ARCHIVO loc 12 loc 11 loc 6 loc 7 loc 5 loc 8 mov tierra Fell Block (Chile): 3D Seismic Programme 420.000 440.000 460.000 3D DICKY 68 km ² A R G E N T I N A PARQUE NACIONAL PALI AIKE 0 2 4 6 8 10 km AUTOR: DIBUJO: FECHA: FECHA MODIF: M. Vila L.A.Lorenzetti 03-01 - 07 SISTEMA GEODESICO : UTM INTERNATIONAL To complete on April 2007 40 km ² AU-CHI-76 Mol-3 PL-8 PL-10A PL-10B PL-11 PL-10 PL-5 PL-2 PL-6 PL-4 4.220.000 4.200.000 4.180.000 3D SANTIAGO 325 km ² 420.000 440.000 Bahía Santiago Villa Punta Delgada 460.000 3D Acquisition: Total Area: 473 km² Start-up: Nov 13/06 Completed: Dec 27/06 Processing: Start-up: Jan 2007 Completed: Estim Jun 2007 Bahía Munición E S T R E C H O Bahía Dirección 3D MONTE AYMOND 80 km ² 480.000 D E Bahía Posesión M A G A L L A N E S 4.220.000 4.200.000 4.180.000 4186000 4196000 4206000 Sau-1 KA-3 KAN-1 KAN-3 KA-2 KA-2A KA-1 0-1001A Ov-1 KAN-5 KAN-4 KAN-2 0-1001B NiO-2 NiO-1 Ni-2 NiS-1 SanN-1001 SanN-1 Ni-1 N-1001 PL-7 PL-9 439000 449000 459000 Interpretation: Underway based on quick field processing. SanN-3 SanN-2 Ni-4 Ni-3 SanN-1002 PL-3 San-2 Gu-1 Gu-2 MunO-1

Fell Block (Chile): Opportunity Inventory

Del Mosquito Block (Argentina): Production and Reserves Producing Oil and Gas Fields: Key Statistics: DEL MOSQUITO BLOCK DEL MOSQUITO NORTE FIELD DEL MOSQUITO FIELD N Area: Operator: GEOPARK Working Interest: Infrastructure: Seismic Coverage: Wells Drilled: Oil and Gas Objectives: Target Depth Ranges: 190,000 Acres GEOPARK 100% Roads, processing and storage facilities, Camp and maintenance facility 2D- 620 km (530 km reprocessed) 3D- 562 km² (3 surveys) 42 Tertiary (Magallanes) Cretaceous (Spring Hill) Jurassic (Tobifera) 2000-6000ft C H I L E Oil and gas fields identified: Wells in Production: 2 7 10 km Proven + Probable Reserves*: Possible Reserves*: 4.7 MMbbls oil / 3.7 BCF gas 4.9 MMbbls oil / 0.4 BCF gas * Source: DeGolyer and McNaughton (definitions as per CPR).

Del Mosquito Block (Argentina): 3D Seismic Programme Condor 3D Seismic Survey (401 sq km) 8 10 9 7 5 3 1 6 4 2 5 km

Del Mosquito Block (Argentina): Opportunity Inventory

Cerro Doña Juana & Loma Cortaderal (Argentina) Producing Oil and Gas Fields: Key Statistics: AMB.x-1 C H I L E Area: Operator: 75,663 Acres GEOPARK GEOPARK Working Interest: 100% Infrastructure: Roads and facilities PMy.x-1 Seismic Coverage: 2D 341 km Wells Drilled: 8 LoC.x-1 Productive Reservoirs: La Manga (J), Vaca Muerta (K), Agrio (K), Grupo Neuquén (K). CDJ.x-1 ACh.x-1 2 3 RUTA 40 Target Depth Ranges: Oil and Gas Fields Identified: Wells in Production: 3937-12139 ft 1 2 CLP.x-1 Proven + Probable Reserves*: 296 Mbbl oil Río Grande Possible Reserves*: 1103 Mbbl oil * Source: DeGolyer and McNaughton (definitions as per CPR).

Plan: Work Programme Risk-Balanced Approach: Production, Development and Exploration Fell Block - Chile Workovers 3D Seismic Time / Activities 2006 2007 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 600 Km2 / 8 MM u$s 10 WO / 4.0 MM u$s Chile 2007 CAPEX Budget: US$ 30.7 MM Development Drilling 5 wells / 11 MM u$s Exploration Drilling 3 wells / 7 MM u$s Facilities Construction Pipelines - PL Plant TEG, DPP & Piping / 9 MM u$s Del Mosquito Block - Argentina 2006 2007 Time / Activities Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Workovers 3D Seismic 400 km2 / 3.6 MM u$s 1 well /.2 MM u$s Argentina 2007 CAPEX Budget: US$ 3.7 MM Development Drilling 1 well / 1 MM u$s Exploration Drilling 2 wells / 2 MM u$s Facilities Construction DMN Battery

Work Programme: Rigs The 2007 work programme requires one workover rig (for well rehabilitation) and one drilling rig (for development and exploration drilling). Workover Rig: Created service company and acquired 50% interest in workover rig providing continuous rig availability Rig began operations in Chile in Q4 2006 Drilling Rig: Contractor: Quintana WellPro Rig: 1000 HP SJ Depth Capacity: 3200 meters Arrival Date: 15 February 2007 (Punta Arenas) Expected Spud Date: 15 March 2007 (Santiago Norte 1001) Contract Duration: 3 years (to 2010) with 2 year extension option

Capital: Necessary Resources ASSETS Amounts in US$ 000 Six months period ended June 2006 Six months period ended June 2005 Year ended 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) Balance Sheet was strengthened through equity issuance 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 06 by a 6 year loan (1 year grace period). Cash available at the bank at the end of 2006: $ 39 MM Fully funded CAPEX work programme for 2007 of US$ 34 MM 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

Gas Market: Opportunity Methanex, the largest consumer of gas in Chile, at 350 million cubic feet per day, has been confronted with serious challenges in their ability to source required gas at existing price contracts: 4 '9)23,!-./01 '3)(+,!-.6": 1 '7)7+,!-.: 1;; $$ =) '*>?,!-@ 0!"#$$% '9)*3,!-./01 6" ""!$ "& '+)5+<()++,!-."%"!"#$$%& '()*+,!-./01 '2)3+,!-."%" 4!$ "& '2)5+,!-."%" 6"!"#$$% '()7+,!-."%" 4!$ "& 8 '3)23,!-."%" #A# '9)7+,!-./01; #" '9)++,!-./01; 70% of the Methanex gas supply comes from Argentina with 30% produced in Chile. Government of Argentina has imposed restrictions on gas exports to Chile and modified the taxation scheme substantially affecting gas price economics. Argentina has imposed a flat tax on all gas exports of $ 2,25/MMBTU -- applicable back value since August 2006. However, the contracted gas from Argentina to Methanex is sold at a price below the new tax. The Methanex contracts provide for Argentine suppliers to pay all taxes, however, current taxes exceed sales price. Current situation not feasible. Methanex has indicated a willingness to absorb some of this tax for the short term. ENAP (State Company of Chile) is also underperforming in its gas deliveries to Methanex. Methanex has a US$1.2 Billion plant in Punta Arenas which is now threatened due to the restriction of gas supplies. GeoPark is the only private sector producer of gas in Chile and is in position to benefit from Methanex's urgent need to develop secure gas supplies in Chile. Opportunity also exists for Argentine gas producers with Methanex contracts to buy GeoPark gas in order to satisfy contractual obligations to Methanex. GeoPark is benefiting from the recent increase in world methanol prices by achieving a gas price of US$ 2.31/mcf for Nov 06 to Jan 07 deliveries.

Position: Growth via Consolidation Region: Trends: Resource rich and under-exploited. Ideal for a technically proficient low cost independent. Larger companies and state companies are rationalising because: Governments are pressing companies to invest in, or sell, idle properties. Manpower shortages are restricting investment. Size of fields favour smaller companies. Repsol YPF, Petrobras, ENAP started process. Focus: Properties with production, development and exploration elements. Ability to kick-start stalled projects. Approach: Move quickly when opportunities arise (backed by good science). More than 100 acquisition opportunities screened. Negotiations and applications underway. Partnerships: ENAP (State Company of Chile), Methanex (largest regional gas consumer), IFC (World Bank).