GeoPark non-exec invests £5.5m

Non-executive director Juan Pavez has invested £5.5m in GeoPark shares.

Pavez bought 963,000 shares at 570p each. That takes his shareholding in the Latin America-focused oil and gas explorer to 2.03m shares, or 4.87% of the company.

Pavez is a former analyst and investment manager. Since 2001 he has been chief executive of Centinela, which is developing wind parks and run-of-the-river hydropower plants.

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GeoPark has interests in blocks in Argentina and Chile and it is investing $50m-$60m on exploration and infrastructure this year. The GeoPark share price has risen by 135% over the past year.

Earlier this month, GeoPark reported the successful testing of two wells in Chile at Cerro Iturbe 1 and Tetera 4. These are a new gas discovery and a new oil producer respectively.

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