Geopark Director Sold Shares Worth Over $1.1M

Jaime Gilinski, a Colombian billionaire, secured a Venezuelan oil contract and converted it into a $515 million stake in GeoPark Ltd., making him the majority shareholder. The deal is subject to conditions and could be canceled if the Venezuelan contract expires before December. GeoPark aims to increase production significantly but faces challenges.

Colombian billionaire Jaime Gilinski agreed to transfer a Venezuelan oil field contract to GeoPark Ltd. in exchange for a $500 million stake, granting him majority control. GeoPark will issue 42.1 million shares at $12.22 each, with a 120-day period to meet contract conditions. GeoPark's stock rose 3.8% on Thursday, closing at $11.45.

African Energy Week 2026 will focus on Venezuela's new investment framework, attracting international energy companies. Venezuela enacted reforms in January 2026, introducing Production Participation Contracts (PPCs). Eni, GeoPark, and Chevron have signed agreements, with Chevron planning a $7 billion investment. The forum will discuss opportunities in Venezuela's energy sector, which holds significant oil and gas reserves.

GeoPark Limited (GPRK) acquired the Bare Block in Venezuela's Orinoco Belt, aiming to boost production to 70,000-83,000 boepd by 2030. The 25-year deal with PDVSA involves a 65% working interest and full funding of capital expenditures. CEO Felipe Bayon highlighted the potential for long-term value creation, while noting political and infrastructure risks.

GeoPark Ltd (GPRK) received an amended Schedule 13D from Colden Investments and Jaime Gilinski, outlining their ownership and a potential change of control. They collectively own 55.5% of GPRK's shares. A deal with Panamerican Energy Holdings could issue up to 47.6M new shares and trigger a $12.22 tender offer, with PEH gaining governance rights. The transaction is conditional and not yet closed.

GeoPark (GPRK) will issue 42.1 million shares at $12.22 each to acquire Grupo Gilinski's 95% interest in the Bare oil block in Venezuela, valuing the deal at ~$160M. Post-transaction, Gilinski will own ~56.3% of GeoPark, with a potential increase to 58.4%. The deal includes a $100M tender offer at $12.22/share. GeoPark aims to boost Bare's production to 44,000 bpd by 2029-2030, with a 25-year contract with PDVSA Petróleo.