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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Estimated by DeGolyer and MacNaughtonNet Proved Reservesas ofDecember 31, 2013 |     |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------|----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Oil and Condensate(Mbbl)                                                       |     |   | Sales Gas(MMcf) |   |   | Oil Equivalent(MMboe) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |
| Chile                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                           |     |   |   |   |   |   |   |
|    Proved Developed                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                           | 2,236.6  |   |   |   | 10,037 |   |   |   | 3.9 |   |
|    Proved Undeveloped                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           | 3,138.4  |   |   |   | 22,122 |   |   |   | 6.8 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Total Chile                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                           | 5,375.0  |   |   |   | 32,159 |   |   |   | 10.7 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Colombia                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
|    Proved Developed                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                           | 3,250.9  |   |   |   | 0 |   |   |   | 3.3 |   |
|    Proved Undeveloped                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           | 6,175.7  |   |   |   | 0 |   |   |   | 6.1 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Total Colombia                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                           | 9,426.6  |   |   |   | 0 |   |   |   | 9.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Brazil                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
|    Proved Developed                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                           | 89.0     |   |   |   | 28,767 |   |   |   | 4.9 |   |
|    Proved Undeveloped                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           | 61.0     |   |   |   | 20,000 |   |   |   | 3.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Total Brazil                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                           | 150.0    |   |   |   | 48,767 |   |   |   | 8.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Argentina                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
|    Proved Developed                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                           | 0.0      |   |   |   | 0 |   |   |   | 0.0 |   |
|    Proved Undeveloped                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           | 0.0      |   |   |   | 0 |   |   |   | 0.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Total Argentina                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                           | 0.0      |   |   |   | 0 |   |   |   | 0.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Total Proved                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                           | 14,951.6 |   |   |   | 80,926 |   |   |   | 28.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                           |     |   |   |   |   |   |   |   |   |   |
| Notes:1.     Gas is converted to oil equivalent using a factor of 6,000 cubic feet of gas per 1 barrel of oil equivalent.2.     The estimates above include the interests of minority shareholders not owned by GeoPark (LG International owns a 20-percent equity interest in the GeoPark affiliate which owns interests in the Chile – Fell Block, a 31.2-percent equity interest in the GeoPark affiliate which owns interests in the Chile – Flamenco Block, and a 20-percent equity interest in the GeoPark affiliate which owns interests in the evaluated Colombia properties).3.     Totals may vary due to rounding. |   |

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|   | Submitted,                              |
|--------|-----------------------------------------|
|   |                                    |
|   | /s/ DeGolyer and MacNaughton            |
|   |                                    |
|   | DeGOLYER and MacNAUGHTON                |
|   | Texas Registered Engineering Firm F-716 |
|   |                                    |
|   |                                    |
| [SEAL] | /s/ R.M. Shuck, P.E.                    |
|   | R. M. Shuck, P.E.                       |
|   | Senior Vice President                   |
|   | DeGolyer and MacNaughton                |

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|   | 1. | That I am a Senior Vice President with DeGolyer and MacNaughton, which company did prepare the letter report addressed to GeoPark dated March 19, 2014, and that I, as Senior Vice President, was responsible for the preparation of this report. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | That I attended the University of Houston, and that I graduated with a Bachelor of Science degree in Chemical Engineering in the year 1977; that I am a Registered Professional Engineer in the State of Texas; that I am a member of the Society of Petroleum Engineers; and that I have in excess of 36 years of experience in oil and gas reservoir studies and evaluations. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| [SEAL] | /s/ R.M. Shuck, P.E.     |
|--------|--------------------------|
|   | R. M. Shuck, P.E.        |
|   | Senior Vice President    |
|   | DeGolyer and MacNaughton |