“2025 marked a turning point for GeoPark, defined by strategic clarity, operational discipline, and a decisive portfolio reset well underway.”（CEO，prepared）
“We delivered or exceeded our full year guidance across all key metrics despite a materially lower oil price environment.”（CEO，prepared）
“Our portfolio reset is well underway, reinforcing our Colombian foundation while establishing a new unconventional growth platform in Argentina.”（CEO，prepared）
“This is a transformative deal that consolidates our position as the leading private operator in Colombia and strengthens our platform for disciplined long-term growth.”（CEO，prepared，关于Frontera资产收购）
“We have entered 2026 with momentum. We have a stronger, more diversified portfolio that has a leaner cost base and a clearer path forward.”（CEO，prepared）
Q&A Batch (6-7 of 7)
Q6 — Felipe Bayon Pardo
Topic: Shareholder rights plan expiration date
Key points:
The shareholders' rights plan has a duration of one year and expires on June 3.
The Board will discuss the nature, conditions, and specifics of the plan in due time.
The company will communicate a decision or directional intent promptly to the markets when discussions are final.
Mgmt stance: Neutral — no commitment or guidance provided; decision pending Board discussion.
Q7 — Felipe Bayon Pardo & Jaime Caballero Uribe
Topic: Venezuela market impact on Colombian crude differentials and potential opportunities
Key points:
Vasconia differentials widened from $3–$4 (mid-2025) to $7–$8 currently, influenced by ~1 million new barrels/day from Venezuela entering the U.S. Gulf Coast market.
The widening is also due to seasonal low refinery demand in Q1 (maintenance, lower runs); management expects stabilization by summer when demand increases.
Colombian crudes (Llanos 34, CPO-5) have better quality (less sulfur) than Venezuelan supply; CPO-5 volumes (~6,000 bbl/d) are sold FOB at Covenas, tied to Brent rather than Vasconia, mitigating the differential impact.
Venezuela is opening up, with inbound interest for operating capabilities to restart/improve production; the company is actively evaluating opportunities.
Mgmt stance: Cautiously optimistic — temporary headwinds from differentials expected to stabilize, while Venezuela presents potential growth optionality given the company’s track record as a prudent operator.