Ecopetrol ADR Representing 20 Ord Shs V.EC

Primary Symbol: EC

Energy Oil & Gas Integrated

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.

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Ecopetrol ADR Representing 20 Ord Shs

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Comment by petesky1on Mar 25, 2010 2:14pm

427 Views

Post# 16924388

RE: RE: RE: Condor

Wizard - Daniel Major suggested that the $9M cash was a good deal for shareholders because even though there was some reasonable gold grades (not low), the price of extraction was extremely high because it was very deep. I believe he ballparked it at $50M to develop the resources there. Instead of extending the company to mine Condor, the $9M cash would make this year for EC "a breeze" and the money could be better spent in all other projects (eg. RZ). He never mentioned weak grades for gold though.

That being said, we never did discuss the benefits of holding onto Condor if price of gold does actually increase substantially...

Petesky.

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