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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 donny2on Apr 07, 2011 8:11pm
392 Views
Post# 18402073

perspective

perspectiveIt's time that we step back from bashing and pumping to take a broader view. EC has always been an intriguing play by virtue of it's proximity to the Aurelian discovery at Fruta del Norte (combined with the value of it's Iron Ore, Manganese, and Gold prospects in Brazil). This has not changed. Of course, the comedy of errors we experienced when the Correa administration in Ecuador halted ALL mining activities in the country for over 1 1/2 years, at precisely the same time when we were in court over environmental abuse and contract issues committed by our JV partner Tocantins - effectively halting all Brazil activities - hurt even more.

But, guess what?  We survived. EC is intact. We have a new CEO committed to reducing costs, selling non core assets, and focusing ONLY on exploration. He has, in a very short period of time, sold the Mn inventory, kept the Condor sale on track (all of which cash us up big time) and arranged for contract drilling in Rio Zarza (no labor disputes, and equipment failures) , as well as contracted with an expert in Epithermal deposit exploration (as required in Rio Zarza) to direct activities along with Steve McMullan.

In summation, we are back to EC being an exciting exploration play. Geographically, one of the most exciting. Rather than focus on the - very well known - issues of the past, focus on where we are today. I own EC because of it's promise. Not the political problems of yesterday
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