I'm in...really good trading update yesterday,strong partnership with Korean LG International, and allied with recent directors buys at a higher price I reckon this under the radar company could be a real winner longer term.

Oil & Gas Sector:
3 January 2012 | 16:07pm
http://bit.ly/tp1K6j

S.Korea LG to invest $96 mln in Chile oilfields
http://uk.reuters.com/article/2011/10/05/lg-chileoil-idUKL3E7L506G20111005

SEOUL | Wed Oct 5, 2011 3:38am BST
Oct 5 (Reuters) - South Korea's LG International Corp will invest $96 million to buy stakes in oilfields in Chile, the company said in a statement on Wednesday.

The trading arm of LG Group will spend $72 million to buy a combined 10 percent stake in one oil production and two oil exploration projects in Chile from Argentina oil development firm Geopark Holdings Ltd , the company said.

LG previously bought a 10 percent stake in the projects from Geopark in May for $70 million.

LG plans to invest the remaining $24 million to buy three additional oil development and exploration fields with Geopark, the statement added. (Reporting by Tae-Yi Kim; Editing by Jonathan Hopfner)

GeoPark Holdings Adds Weight To Its Chile Portfolio With Three New Blocks
September 15, 2011
http://oilbarrel.com/news/geopark-holdings-adds-weight-to-its-chile-portfolio-with-three-new-blocks

GEOPARK Holdings has long talked of extending its portfolio in South America and this week there was some progress, with the AIM-quoted E&P signing up for three new blocks in Chile. This is good news as GEOPARK has a proven track record of building a profitable production business in the South American country: it produces some 8,000 boepd from its 100 per cent Fell Block in southern Chile and last year generated revenues of US$80 million.
Beyond the Fell Block, the company also holds the Tranquilo and Otway blocks, where exploration work is, after some time, now underway. Now GEOPARK has secured three new blocks in the Tierra Del Fuego area through an international bid process managed by state oil company ENAP. GEOPARK will partner ENAP with a 50 per cent interest in the Campanario and Flamenco blocks, and with a 60 per cent interest in the Isla Norte block. Chief executive James Park said the new blocks represented a “significant step forward in GEOPARK's growth strategy”.
The Bermuda-registered company will operate all three blocks, which are contiguous with the Fell Block, and will spend at least US$101 million on the three blocks over the next three years. This is a fairly aggressive spending programme but is in line with GEOPARK’s philosophy of sweating its acreage with a continuous drilling campaign. It is a strategy that has certainly started to pay off on the Fell Block, where the company is chasing down high value oil targets to counterbalance its previously gas-weighted business (high oil prices make this a no-brainer compared to the capped gas price it gets through its arrangement with Canadian methanol giant Methanex under a pricing formula linked to the methanol market; which last worked out at US$3.13 per mcf).
The company expects to end this year with a 10-15 per cent growth in production, of which 40-50 per cent will be oil production and 10-15 per cent gas production. This will be driven by its busy drilling programme, with up to 30 wells on the books for 2011 and three rigs in operation.
Impressively, this US$90 million work programme is fully funded with the company, which is mulling a full listing on the Santiago Stock Exchange, boasting US$150 million in cash plus a Strategic partnership with Korea’s LG International to support new acquisitions. In May 2011 the company completed the sale of a 10 per cent stake in its Chilean upstream business to LGI for US$70 million, signaling the inherent value of this business at US$700 million. That’s rather impressive for a company that, following recent share price losses, carries a market cap on AIM of just £210 million.
The two companies plant to work together to acquire further upstream assets in Latin America, with GEOPARK reviewing opportunities in Chile, Colombia, Peru, Brazil and Argentina. These side by side acquisitions will initially target projects in the US$100-500 million range. GEOPARK has also agreed terms to earn 25 per cent equity in LGI’s Kazakhstan Block 8 by funding 50 per cent of the 2011 work programme, which includes one exploration well on the Sholkara large pre-salt prospect. (GEOPARK's commitment is capped at US$10 million). This is rather an oddity in the portfolio but does add some geographic diversity and gives the company access to a possible 400 million barrel target, adding some real exploration spice to the portfolio. The well is expected to drill this month or next.