BOGOTA, Colombia, Aug. 27 /PRNewswire-FirstCall/ -- The Toronto Stock Exchange ("TSX"), one of the largest in the world in the energy sector, officially welcomed Ecopetrol S.A. ("Ecopetrol" or the "Company") (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP), whose ADRs have been trading on the TSX since August 13, 2010. Ecopetrol is the first Colombian company to be listed on the TSX.
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The listing on this important stock exchange is another step in the Company's internationalization process, as Ecopetrol's shares are now traded on four stock exchanges: the Colombia stock exchange, the New York Stock Exchange, the Lima Stock exchange, and the TSX.
In a special event that took place yesterday in Toronto, Canada, Ecopetrol was asked to open trading on TSX, which specializes in the mining and energy sectors.
Opening the session, the CEO of Ecopetrol, Javier Gutierrez Pemberthy, was accompanied by Adriana Echeverri, Vice President of Finance; Hector Manosalva, Vice President of Exploration and Production (E); Alejandro Giraldo, Director of Investor Relations; and David Garzon, an employee of the company. Appearing with them were the directors of the Toronto Stock Exchange, headed by the President of the TMX Group, Tom Kloet.
Mr Gutierrez, also gave a presentation in Toronto to a group of 30 investors, in which he discussed the Company's financial results as well as its new strategic goals, including, among others, producing 1.3 million barrels per day of oil equivalent by 2020. Additionally, Mr Gutierrez and his team met with 60 other investors in Calgary to discuss the Company's performance.
The Toronto Stock Exchange is part of the TMX Group, which brings together various companies that provide financial asset trading services in North America. Between January and June 2010 it listed 94 new companies and prepared 64 initial public offerings on the stock exchange. The TSX is capitalized at US$1.712 billion and has 1,488 listed companies, of which 30% are natural resource companies from the mining, petroleum and gas industries.
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Ecopetrol is Colombia's largest integrated oil company and is among the top 40 oil companies in the world and the four largest oil companies in Latin America. Besides Colombia, where it accounts for 60% of total production, the Company is involved in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol has the principal refinery in Colombia, most of the network of oil and multiple purpose pipelines in the country, and it is considerably increasing its participation in biofuels.
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.
Contact us for any additional information: |
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Investor Relations |
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Alejandro Giraldo |
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Phone: +571-234-5190 |
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Email: [email protected] |
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Media Relations (Colombia) |
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Mauricio Tellez |
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Phone: +571-234-5377 |
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Fax: +571-234-4480 |
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Email: [email protected] |
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Website: www.ecopetrol.com.co |
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SOURCE Ecopetrol S.A.
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