GeoPark announces strategic entry to Brazil

Latin American oil and gas explorer GeoPark has announced its strategic entry into Brazil with the acquisition of a 10 per cent working interest in the offshore Manati gas field.

Latin American oil and gas explorer GeoPark has announced its strategic entry into Brazil with the acquisition of a 10 per cent working interest in the offshore Manati gas field.

On May 14th, GeoPark executed a stock purchase agreement with Panoro Energy do Brasil, the subsidiary of Panoro Energy ASA, a Norwegian listed company with assets in Brazil and Africa. This agreement was to acquire all of the issued and outstanding shares of its wholly-owned Brazilian subsidiary, Rio das Contas Produtora de Petrleo, the direct owner of 10% of the BCAM-40 block, which includes the shallow-depth offshore Manati Field in the Camamu-Almada basin.

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