UPDATE 1-Geopark says successfully drills 2 wells in Chile

* Says results preliminary; further drilling history needed

* Shares rise 2.6 pct (Adds details)

Aug 13 (Reuters) - Latin American oil and gas explorer Geopark Holdings Ltd (GPK.L) said on Thursday it successfully drilled and tested two new oil and gas wells in Chile. The company said it drilled and tested the Alakaluf 2 and Alakaluf 3 wells on the Fell block, in which it has a 100 percent working interest. A production test in the Springhill formation at the Alakaluf 2 well flowed at a rate of about 7.6 million cubic feet per day (mmcfpd) of gas, while a test at the Alakaluf 3 well flowed at a rate of about 234 barrels per day (bpd) of oil, Geopark said in a statement.

The results were preliminary and further production history would be needed to determine stabilised flow rates from these wells and the extent of the reservoir, it said.

The company said it had constructed surface facilities on the Alakaluf 3 well-site and it would install a beam-pumping unit to produce the well with an expected production rate of about 375 bpd of oil.

"The additional oil revenue represents an important balance to our Chilean gas production," Chairman Gerald O'Shaughnessy said. Geopark said it was carrying out out a seven-to-nine well drilling programme on the Fell block in 2009 and was also initiating start-up of activities on its two new blocks in Chile -- Tranquilo and Otway -- covering an area of about 12,000 square kilometres.

Geopark shares were up 2.6 percent at 295 pence by 0751 GMT. (Reporting by Kumar Alagappan in Bangalore; Editing by Unnikrishnan Nair)