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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

Post by petesky1on Jun 25, 2010 8:18pm
443 Views
Post# 17223753

well put lluke

well put llukeThe $100K/month "cashflow" is merely a distraction since it contributes towards the purchase price. I suppose it DOES show us that Alca is motivated to and will likely close the deal, but at no penalty to them for their delay. There should definitely be something in place to protect us from delays AS WELL as factoring the increasing price of gold into the deal.

If the $100K/month were non-refundable and DID NOT contribute to the purchase price, then it would be in Alca's best interest to close the deal as soon as possible. This latest news release does quite the opposite.

ps. That $9M deal is now worth $10M as the price of gold is up 11% from when the original proposal was presented.

Petesky.
Bullboard Posts