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Ecopetrol ADR Representing 20 Ord Shs V.EC


Primary Symbol: EC

Ecopetrol S.A. is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company's segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company's Exploration and Production segment includes exploration, development and production activities in Colombia and abroad. The Company's Transportation and Logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. The Company's main crude oil pipeline systems' operating capacity is approximately 1.34 million barrels per day (BPD). The Company's main refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a subsidiary of the Company. The Company also owns and operates two other minor refineries: Orito and Apiay.


NYSE:EC - Post by User

Comment by Import1on Aug 16, 2010 4:09pm
590 Views
Post# 17354698

RE: .27 close

RE: .27 close

It may Gap up,but IMO I would use this opportunity to get out.  The NR Re: Manganese if memory serves me correct they aren't exactly making a mint on these stockpiles, costs seemed to eat up most benefits.  As for The RZ drilling, no "significant" gold has been found to date.  IMO some good volume and enthusiasm has brought this one up, but continued lack of results combined with depleting cash position will slowly see EC trickle down once the euphoria has worn off.

The above represents my opinion and like many of you on this board I 'liked' the RZ property, however continued drilling 'misses' don't fill me with confidence.  Manganese alone will not pay for further continued drilling/development and thus a PP would need to be done if EC plans on any significant exploration/development of the manganese project.

GLTA,

Import1

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