GeoPark Triples Vaca Muerta Acreage With Award of Corralera Noreste Block

Material Long-Term Unconventional Resource Potential Through a Disciplined and Phased Investment Project

BOGOTA, Colombia, October 21, 2026--GeoPark Limited ("GeoPark" or the "Company") (NYSE: GPRK), a leading independent energy company with more than 20 years of successful operations across Latin America, today announced that it has been awarded the Corralera Noreste Block ("Corralera NE") in the Neuquén Basin, Argentina, further expanding its position in Vaca Muerta and strengthening its long-term growth platform in the country.

Corralera NE was awarded through a public bidding round (Ronda 1/2026) launched by Neuquén Province's energy company Gas y Petróleo del Neuquén ("GyP") under the Plan Exploratorio Neuquén — the largest Vaca Muerta acreage offering in nearly a decade — in which 15 blocks were offered and 20 offers were received from 10 companies. GeoPark's offer for Corralera NE ranked highest under the tender's award formula.

GeoPark and GyP will proceed with the execution of the applicable joint venture agreement, which will be submitted for approval by the Executive Branch of the Province of Neuquén in accordance with the terms of the bidding round.

Expanding Into a Growing New Vaca Muerta Hub

Corralera NE is strategically located in the northern hub of Vaca Muerta, near Rincón de los Sauces, an emerging development area with growing unconventional activity and with existing infrastructure availability. The award provides GeoPark with access to approximately 26,900 gross acres – some 24,200 acres net to GeoPark – for a total committed cost (including entry bonus) of approximately $95 million, or approximately $3,900 per net acre.

The award represents a natural extension of GeoPark's Argentina strategy and provides a potential long-term continuation of the Company's growth platform in the country, complementing its existing assets Loma Jarillosa Este and Puesto Silva Oeste.

Nearby operations run by other companies, currently producing approximately 80,000 barrels of oil per day in aggregate, provide relevant technical analogues and support the potential for multiple productive landing zones.

Bid Terms

Under the terms of its winning offer, GeoPark will pay a one-time access bonus of $60.5 million to the Province of Neuquén and has committed a work program consisting of the drilling and fracking of 2 horizontal wells, each with 2,000 meters of horizontal section and 30 frack stages, to be carried out during the initial four-year exploration period.