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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 petesky1on Mar 27, 2011 10:03pm
283 Views
Post# 18348084

RE: RE: RE: Good week coming.

RE: RE: RE: Good week coming.Thanks for the reply Donny. And I hope that most of what you're saying is right, although there are some points that I am not convinced on. I mean I HOPE they're true, but so far I haven't received any feedback from the company in regards to them. I emailed Mr. Lamarque directly and for whatever reason I didn't get a reply. But here's a few questions:

- Do you have any details on what expenses have been reduced? I've heard mention things like office being reduced, etc. Where can I obtain this info? And people have stated that the COO position has been cut. Does this mean that Daniel Major no longer receives any salary (bloated or not) from EC??? Has anyone received a pay cut in salary?
- This bulk sale of the manganese so far only seems like a rumor. Has anyone from the company mentioned this? I would prefer they set up the benification plant and start a steady flow of income for us for many years. If we sell at a discount, it's just losing more equity like we did with the sale of Condor...
- Are you as annoyed as me that these guys receive such a large salaries, perks, etc?? When they recently received "performance based stock options", I figured it would be a pay cut! I consider performance to refer to a positive increase in profit and share price.

Sorry I remain an EC optimist, but I think these guys' income should be MUCH less until we start to show some results. In the meantime, I'm hoping they release some news clarifying some of these points.

Petesky.

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