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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 donny2on Jul 09, 2009 9:11pm
350 Views
Post# 16128711

RE: RE: Cash position of EC ?

RE: RE: Cash position of EC ?I was. Apparently, the litigation in Brazil that involved our JV partner chewed up enormous capital. I believe there were a number of suits that had to be fought. We prevailed in court. Combine that with the "hiatus" mandated by the government in Ecuador, and you have a recipe for capital destruction. What is keeping me involved is not only the potential in Rio Zarza, but in Brazil. Benification of the Manganese stockpile will allow the company to fund all activities going forward. Whether it is a strike approximating Aurelian in Ecuador, or a new Iron Ore find in Brazil, this stock is a very cheap option on "possibilites". That is why we invest, is it not?
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