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Production for the Ecopetrol Corporate group was 593.9 mboed in second quarter and 589.3 mboed for the first half of the year, an increase of 14.5% and 17.1% compared to the same periods of 2009.
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Net income for the second quarter of 2010 of COL$1.8 trillion with a 136.8% increase over the second quarter of 2009; EBITDA of COL$3.6 trillion for the second quarter of 2010 with a 29% increase over the same period in 2009, with an EBITDA margin of 40%. Net income for the first half of 2010 amounted to COL$3.9 trillion.
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Revised and expanded strategic plan for 2020 was presented calling for a production goal of 1.3 "clean" mmboed.
Ecopetrol S.A. announced today its unaudited unconsolidated and consolidated financial results for the second quarter and first half of 2010, prepared and filed in accordance with the Public Accountancy Legal Framework (Regimen de Contabilidad Publica -RCP) of the Colombian General Accounting office, in Colombian pesos (COL$).
This current report on Form 6-k is hereby incorporated by reference into the Company´s registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission on February 12, 2010.
See complete report
Bogota, Colombia, July 28 of 2010
Director of Investor Relations
Alejandro Giraldo
Phone: +571-234-5190
Fax:+571-2345628
Email: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Téllez
Phone: + 571-2345377
Fax: +571-2344480
Email: mauricio.tellez@ecopetrol.com.co
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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.