GeoPark Holdings Ltd. said it formally advised Chile’s Ministry of Energy earlier this month of a decision by the partners in the Tranquilo block in Tierra del Fuego to not proceed with the second exploratory period (see map, OGJ, Dec. 24, 2007, p. 36).
The partners will relinquish the GeoPark-operated block except for a 92,417-acre area that consists of protected exploitation zones for the Cabo Negro, Marcou Sur, Maria Antonieta, and Palos Quemados prospects.