Geopark director increases stake

published 10 October 2011

Non-executive director Juan Cristobal Pavez has spent more than £625,000 in Latin American oil and gas exploration and production company Geopark Holdings.

Pavez, who joined the board in 2008, purchased 130,500 shares at 480p each in a move that brings his total to 2,164,594, a 5.1% stake in the company.

Along with four colleagues, Pavez, who is also a board member of Grupo Security, Vida Security and Quintec, was last month paid 653 shares at 668.92p in lieu of director's fees and benefits.

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In the past year GeoPark has seen its share price fall 25.2%, eqivalent to 160p.

The company was recently awarded three "highly prospective" blocks in Tierra del Fuege, Chile, in return for a minimum investment of $101m.

The firm also sold a further 10% interest in its Chilean business for $78m to LG International, which followed another 10% interest it sold in May for $70m.

Earlier this year the company announced a return to profit, after benefitting from rising oil prices and higher production volumes.

Top Director Buys

Geopark Holdings Ltd. (GPK)

Director name: Mr Juan Cristobal Pavez

Amount purchased: 130,500 @ 480.00p

Value: £626,400

Ubisense Group Plc (UBI)

Director name: Mr Richard Green

Amount purchased: 75,000 @ 192.90p

Value: £144,675

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