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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 Yeswecanon Mar 04, 2010 10:55pm
361 Views
Post# 16845942

Disappointing results coming IMO

Disappointing results coming IMOGoing on about the depth of mineralization is laughable.  We are only interested in valuable marketable minerals. If they are not present in significant quantities, then it is only fantasy that is driving this trading.

At this time, IMO, the only winners are those who sold their shares at $1.15 or higher.  IMO, there is a good reason why the shares are down 20% already over the past week or so, and still dropping.

I am not a basher, just a guy who has worked in exploration enough to have an instinct for when investors are being driven by greed and fantasy rather than by the relevant facts.

Hope I am wrong, but  I think the bottom  for EC will be around $.40 

Good luck to the fearless gamblers out there.  I won't sell my position because there is a small chance of an upside surprise. I also accept that this is a very speculative play and there is a much greater chance that the mineralization in the cores tested to date will not have any economic value.

So from where I stand, any good news will be great news.
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