GeoPark Limited has entered into a definitive agreement to acquire 100 percent of Frontera Petroleum International Holdings B.V., which holds all of Frontera Energy Corporation’s Colombian exploration and production assets, together with associated water treatment and palm oil operations, for cash consideration of US$375 million (approximately C$510 million), plus a contingent payment of US$25 million (about C$34 million), subject to customary adjustments. The transaction also entails GeoPark assuming Frontera’s US$310 million 2028 unsecured notes and about US$79–80 million outstanding under a Chevron prepayment facility, implying a total firm value of US$622 million (roughly C$846 million) for the acquired assets when combined with the cash consideration. The acquired portfolio comprises 17 upstream blocks in Colombia and is positioned as a strategic fit with GeoPark’s existing operations, materially increasing its reserves, production and cash flow profile in the country. The transaction has an effective date of January 1, 2026 and is expected to close in the second half of 2026, via a plan of arrangement under the Business Corporations Act (British Columbia), subject to shareholder, court and regulatory approvals; it is not subject to a financing condition and will be funded from GeoPark’s existing liquidity and committed facilities. Bennett Jones LLP is acting as Canadian counsel to GeoPark, while Cleary Gottlieb Steen & Hamilton and CMS Rodríguez-Azuero are also legal advisers to GeoPark and BTG Pactual is its exclusive M&A financial adviser; Citi is financial adviser to Frontera, BMO Nesbitt Burns provided a fairness opinion and Blake, Cassels & Graydon LLP is acting as Frontera’s legal counsel.