GeoPark Announces Its Intent to Fully Redeem Its Senior Notes Due 2024

Rhea-AI Summary

GeoPark Limited (NYSE: GPRK) plans to fully redeem its 6.500% senior notes due 2024, amounting to $67,124,000. The redemption is set for September 21, 2022, with the notes being redeemed at 101.625% of the principal plus accrued interest. A notice will be delivered to the noteholders as per the Indenture's requirements. The company emphasizes that this press release does not constitute a securities offer or solicitation. Forward-looking statements are included, highlighting potential risks related to the expectations of the redemption process.

Positive

• The planned redemption of senior notes could improve GeoPark's financial stability by reducing debt obligations.
• The redemption price of 101.625% indicates a potential premium value realization for noteholders.

Negative

• None.

BOGOTA, Colombia--(BUSINESS WIRE)-- GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announced its intent to fully redeem the aggregate principal amount of its 6.500% senior notes due 2024 (the “Notes”), which will equal $67,124,000 as of the anticipated redemption date. A notice of redemption will be sent to the holders of the Notes in accordance with the requirements of the indenture governing the Notes (the “Indenture”). Pursuant to the terms of the Indenture, the Notes will be redeemed at a redemption price equal to 101.625% of the principal amount of the Notes redeemed, plus accrued and unpaid interest and additional amounts (if any) to, but excluding, the redemption date.

The anticipated redemption date is September 21, 2022.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security nor a notice of redemption under the Indenture and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as “believes,” “expects,” “may,” “anticipates,” “plans,” “intends,” “assumes,” “will” or similar expressions. The forward-looking statements contained herein include statements about the full redemption of the Notes. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, GeoPark’s business and operations involve numerous risks and uncertainties, many of which are beyond the control of GeoPark, which could result in GeoPark’s expectations not being realized or otherwise materially affect the financial condition, results of operations and cash flows of GeoPark. Some of the factors that could cause future results to materially differ from recent results or those projected in forward-looking statements are described in GeoPark’s filings with the United States Securities and Exchange Commission.

The forward-looking statements are made only as of the date hereof, and GeoPark does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events. In light of the risks and uncertainties described above, and the potential for variation of actual results from the assumptions on which certain of such forward-looking statements are based, investors should keep in mind that the results, events or developments disclosed in any forward-looking statement made in this document may not occur, and that actual results may vary materially from those described herein, including those described as anticipated, expected, targeted, projected or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907006182/en/

INVESTORS:

Stacy Steimel

Shareholder Value Director

T: +562 2242 9600

ssteimel@geo-park.com

Miguel Bello

Market Access Director

T: +562 2242 9600

mbello@geo-park.com

Diego Gully

Investor Relations Director

T: +5411 4312 9400

dgully@geo-park.com

MEDIA:

Communications Department

communications@geo-park.com

Source: GeoPark Limited

FAQ

What is GeoPark Limited's plan for its senior notes due in 2024?

GeoPark Limited intends to fully redeem its 6.500% senior notes due 2024, totaling $67,124,000, on September 21, 2022.

What is the redemption price for GeoPark's senior notes?

GeoPark will redeem its senior notes at a price of 101.625% of the principal amount plus any accrued interest.

When is the anticipated redemption date for the senior notes of GeoPark?

The anticipated redemption date for GeoPark's senior notes is September 21, 2022.

What potential risks are associated with GeoPark's forward-looking statements?

Forward-looking statements may involve numerous risks and uncertainties that could result in actual outcomes differing materially from expectations.