Eduardo Muniz

Eduardo Muniz asked how GeoPark's Colombia growth outlook would change if the Frontera deal does not close, and for an update on the polymer injection project, including its impact on incremental production and influence on 2026 output and recovery factors.

Answer

CEO Felipe Bayón expressed satisfaction with the polymer injection project's progress. Chief Exploration and Development Officer Rodrigo Dalle Fiore detailed the Llanos 34 polymer flood, starting with two wells in December, with plans for more, expecting recovery factors between 3% and 7%. Bayón reiterated that the Frontera arrangement agreement is in place and being diligently pursued, emphasizing the board's commitment to financial discipline and shareholder value creation when assessing all options.

Eduardo Muniz from Santander submitted a question asking how GeoPark's Colombia growth outlook would change if the Frontera deal does not close, and requested an update on the polymer injection project initiated in December, including its incremental production impact and influence on 2026 output and recovery factors.

Answer

CEO Felipe Bayón reiterated commitment to the Frontera arrangement agreement and emphasized the board's financial discipline in assessing all options for shareholder value. Chief Exploration and Development Officer Rodrigo Dalle Fiore provided an update on the polymer injection project, stating it started in December with two wells, with two more planned for next month/April. He noted good operational performance, with results expected in the second half of 2026, and plans to add five more wells by year-end, potentially accelerating expansion in the Tigana block. Dalle Fiore projected a recovery factor increase of 3-7% in injected areas, with an average expectation of 5%.