On 21 December 2017, GeoPark announced that it has signed an agreement with the operator of LLA-32, Parex, to fund the drilling of the Zamuro exploration prospect in the north of the Llanos Basin block in the second half of 2018. GeoPark already holds 12.5% non-operated working interest (WI) in the block and will increase its economic interest in the Zamuro field area to 56.25% in the event of a commercial discovery. GeoPark made a similar arrangement with CEPSA in late October 2017 to drill one exploration well on the nearby Tiple Block, (currently also scheduled for H1 2018) at an estimated cost of US$ 7-8 million in return for 85% WI and operatorship of the block in the event of a commercial discovery. At the time of that transaction the CEO of GeoPark, stated that it "gives us more valuable land and prospects to further expand the high-impact structural and stratigraphic oil play we are pioneering in the Llanos Basin." The blocks neighbour GeoPark's prolific LLA-34 Block whereby GeoPark has discovered more than 230 MMbo of 3P gross reserves and is producing 50,000 bo/d in less than five years on the block from a base of no production. The fields are producing in the Late Cretaceous Guadelopue Formation and Eocene Mirador Formation. The exploration area covers approximately 332 sq km with full 3D seismic coverage. GeoPark operates the LLA-34 Block with 45% WI with Parex holding the remaining interest. In LLA-32 there are currently two fields producing oil from the Mirador Formation discovered in 2014 -Kananaskis and Carmentea.
Colombia, LLA 32