This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ecopetrol Announces A Discovery In Magdalena Medio

Stock quotes in this article: EC

BOGOTA, Colombia, Sept. 5, 2012 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that it has proven the presence of crude oil at the Aullador-I exploratory well located in Santander province, 27 kilometers from the municipality of Sabana de Torres. The well is part of the Playon Exploration and Production Agreement signed by Ecopetrol and the National Hydrocarbons Agency (ANH) on April 24, 2008.

(Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO )

The well was drilled to a depth of 11,393 feet. Tests averaged 300 barrels of crude oil per day of 24 degrees API, obtained by natural flow. The well shows low watercut and sediment (BSW) of only 0.1% and a gas-oil ratio of 200.

In the following months extensive testing will be carried out in order to define the potential of the discovery.

Ecopetrol is the largest company in Colombia and a firm integrated into the petroleum chain. It is ranked among the 50 largest oil companies in the world and among the four principal petroleum companies in Latin America. In addition to Colombia, where it accounts for more than 60% of national production, it maintains exploration and production activities in Brazil, Peru and the United States (Golf of Mexico). Ecopetrol is the owner of two refineries in Colombia and a majority of the country's oil and multiuse pipelines, and it is significantly increasing its involvement in biofuels.

This release contains forward-looking statements relating to the prospects of the business, estimates of operating and financial results and assertions concerning Ecopetrol's growth perspectives. These are mere projections and, as such, are based exclusively on the expectations of management regarding the future of the company and its continued access to capital to finance the company's business plan. Such forward-looking statements depend on market conditions, government regulations, competitive pressures, and the performance of the Colombian economy and of the industry, among other factors; therefore, they are subject to change without prior notice.

For more information, contact: Investor Relations

Alejandro Giraldo Tel:  +571-234-5190E-mail: investors@ecopetrol.com.co

Media Relations ( Colombia)

Mauricio Tellez Tel:  + 571-2345377Fax: +571-2344480E-mail: mtellez@ecopetrol.com.co

SOURCE Ecopetrol S.A.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs