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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 deanthebeanon Mar 04, 2010 8:49pm
397 Views
Post# 16845592

RE: RE: RE: RE: Condor Sale

RE: RE: RE: RE: Condor Sale

The Condor sale is not mostly irrelevant.  It is a 9 million dollar transaction for a company with approx. 50 Million market cap.  You are assuming that Rio Zarza grades will cause the share price to explode.  I wish for the same, but if grades are mediocre and results drag, they will need to come up with cash in relatively short order.  Months have a tendency to fly by when waiting good drill results.  If the first holes show mediocre results, you will see Ecometals change their stance on Condor and pursue a buyer more vigorously.  In my opinion they are smart for now by not committing to a formal agreement because they are still able to back out which gives them more flexibility.  If they hit good grades soon and the sp rockets, they will forget about selling Condor and will keep it for the future.

IMO

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