Ecopetrol and Anadarko Confirm the Presence of Oil in Brazil Block BM-C-29

    


    
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<p><span class="xn-location">BOGOTA</span>, <span class="xn-location">Colombia</span>, <span class="xn-chron">Sept. 28</span> /CNW/ -- In accordance with standards set by the Brazilian National Petroleum Agency (ANP), the regulator of the Brazilian oil sector, the Anadarko Petroleum Corporation, the operator of Block BM-C-29, reported that it has confirmed the presence of hydrocarbons in the Itauna well in which Ecopetrol (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP) is a 50% partner through its affiliate in <span class="xn-location">Brazil</span>.</p>
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<p>No further information is available to date.  Future developments and projections will be subject to additional data to be obtained during the exploration activities carried out in the block in the following months.</p>
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<p>Ecopetrol is Colombia's largest integrated oil company, ranked among the 40 largest oil companies in the world and the four principal oil companies in Latin America.  In addition to <span class="xn-location">Colombia</span>, where it represents 60% of national production, it is also present in exploration and production activities in <span class="xn-location">Brazil</span>, <span class="xn-location">Peru</span> and the <span class="xn-location">United States</span> (Gulf of <span class="xn-location">Mexico</span>).  Ecopetrol is the owner of the largest refinery in <span class="xn-location">Colombia</span>, owns the largest part of the oil and multi-purpose pipelines in this country, and is significantly increasing its participation in biofuels.</p>
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<p>This press release contains declarations related to business perspectives, projected operating and financial results and affirmations related to prospects for Ecopetrol's growth.  All are projections and as such are based only on the expectations of the directors with regard to the future of the company and its continuous access to capital to finance the company's business plan.  The realization of said estimates depends on performance under market conditions, regulations, competition, and  performance of the Colombian and industry economy, among other factors.  As such they are subject to change without prior notice.</p>
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<p>For more information contact:</p>
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    Office of Investor Relations
    Alejandro Giraldo
    Telephone: [phone]
    e-mail: [email protected]
    
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    Media Relations (Colombia)
    Mauricio Tellez
    Telephone: + 571-2345377
    Fax: [phone]
    E-mail: [email protected]


    Web site: www.ecopetrol.com.co



    

For further information: Alejandro Giraldo, +011-571-234-5190, [email protected], or Media Relations (Colombia), Mauricio Tellez, +011-571-234-5377, Fax: [phone], [email protected] Web Site: http://www.ecopetrol.com.co