Page 15 - LatAmOil Week 15 2021

LatAmOil NEWS IN BRIEF LatAmOil

Costayaco Oilfield (100% WI): In March 2021,
Gran Tierra commenced its infill development
drilling campaign to drill three oil producers;
this drilling programme is the first in Costayaco
since November 2019.
The CYC-42 infill oil well was drilled during
the first quarter of 2021 with indications of high
quality reservoir in the U, T, and Caballos Sands
based on well logs, with potential prospectivity in
the M2 Carbonate; the CYC-42 well was drilled
in 12.1 days at a cost of $1.9mn, a 30% decrease
from the last 4 wells drilled in Costayaco.
Currently, the CYC-43 infill well is being
drilled and is expected be cased and cemented
on or around April 12, 2021. The CYC-44 infill
well is expected to spud on or around May 15, the SELIC rate from December 31, 2020, until from the offering of the Notes to purchase a por-
2021 the payment date on April 29, 2021. Until today tion of the 2024 Notes and for general corporate
All three wells are expected to be on produc- (April 14, 2021) this represented an increase of purposes.
tion by the end of the second quarter of 2021. BRL0.004566 per share, resulting in a total value GeoPark, April 14 2021
Workovers on six producing wells were com- of BRL0.792012 per share.
pleted during the first quarter of 2021, with oil The payment of said dividend will take place
production restored and ramping back up. on April 29, 2021 and the shareholders will be LEGAL
Moqueta Oilfield (100% WI): During entitled to this dividend as follows:
Q2-2021, Gran Tierra plans a five-well work- 1. The record date for owners of Petrobras Petrobras comments
over programme, which is expected to consist shares traded on the B3 will be April 14, 2021
of one workover and one stimulation to restore and for holders of American Depositary Receipts on Gaspetro’s exit
production, and also three injector conversions (ADRs) traded on the New York Stock Exchange
to further optimise the waterflood and increase (NYSE) will be April 16, 2021. from Gasmar
production in the second half of 2021. 2. Petrobras’ shares will be traded ex-divi-
Suroriente Block (52% WI and Operator): At dends on B3 and NYSE as of April 15, 2021. Petrobras informs that it has entered into,
the Cohembi oilfield in the Suroriente Block, a Petrobras, April 14 2021 together with its subsidiary Petrobras Gás (Gas-
facility expansion programme is progressing as petro), an instrument of transaction to put an
planned, which is expected to allow additional GeoPark announces end of a pending legal dispute with Termogás.
production to be brought online in the second This instrument allows Termogás to acquire
half of 2021. proposed offering shares of Companhia Maranhense de Gás (Gas-
A workover rig is expected to move to the mar) held by Gaspetro, which corresponds to
Suroriente Block in mid-April 2021, where it of senior notes 23.5% of the total capital stock. Termogás is
is expected to accelerate the running of larger already a shareholder of Gasmar, with 51% of
pumps in 2 oil wells and to restore production GeoPark, an exempted company incorporated its total capital stock, in addition to the Govern-
in three additional oil wells that are currently off under the laws of Bermuda, today announced ment of Maranhão State, which holds 25.5%.
line. that it intends to offer senior notes in a private The acquisition price for the Gasmar Stake
Gran Tierra Energy, April 13 2021 placement to qualified institutional buyers in held by Gaspetro is BRL59.1mn, subject to the
accordance with Rule 144A under the Securities usual adjustments for transactions of this nature,
Act of 1933, as amended, and outside the United to be received by Gaspetro on the closing date
FINANCIAL States to non-US persons in accordance with of the transaction. The closing is subject to
Regulation S under the Securities Act. compliance with precedent conditions, such as
Petrobras approves viously issued $350mn aggregate principal Shareholders’ Agreement and approval by the
The Notes constitute a reopening of pre-
the fulfillment of obligations under Gasmar’s
dividend payment at amount of the Company’s 5.500% Notes due Administrative Council for Economic Defense
(CADE).
2027, which are fully and unconditionally guar-
annual general meeting anteed jointly and severally by GeoPark Chile Gasmar is a mixed economy company that
SpA and GeoPark Colombia S.L.U. The timing holds the concession, with exclusivity, to provide
Petrobras, following up on the release disclosed of pricing and terms of the Notes are subject to the services of distribution and commercialisa-
on February 24, 2021, informs that, in a meet- market conditions and other factors. tion of piped natural gas in the entire territory of
ing held today, the Annual General Meeting Concurrent with the announcement of this Maranhão State.
approved the proposal for allocation of the proposed offering of Notes, the Company has Termogás is responsible for several undertak-
2020 fiscal year results forwarded by the Board announced that it is making a cash tender offer ings in the energy, infrastructure and natural gas
of Directors, of remuneration to sharehold- to purchase a portion of the Company’s out- sectors. One of these enterprises is Gasmar, in
ers in the form of dividends in the amount of standing 6.500% Senior Notes due 2024 and a which Termogás holds 51% of its total capital,
BRL10.272bn, corresponding to BRL0.787446 consent solicitation to amend the terms of the owning 28% of the common shares and 74% of
per outstanding common and preferred share. indenture for the 2024 Notes. the preferred shares issued by Gasmar.
This value will be updated by the variation of The Company intends to use the net proceeds Petrobras, April 09 2021

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