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Last updated on April 24, 2014 at 6:16 EDT

Ecopetrol Announces Hydrocarbons Discovery in Colombia

March 19, 2013

- The Pastinaca 1 well was drilled on block CPO-10. It is 100% owned by Ecopetrol.

BOGOTA, Colombia, March 19, 2013 /PRNewswire/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that it has proven the presence of heavy crude oil at Pastinaca 1, an exploratory well located within the municipality of Puerto Lopez, Meta Province.

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

The well is part of the CPO-10 Exploration and Production Agreement of December 18, 2008 between Ecopetrol and the National Hydrocarbons Agency.

Initial tests carried out on the Pastinaca 1 well using an electro-submersible artificial lift, yielded an average crude oil production of 202 barrels of oil per day (BOD) of 11.7° API (heavy crude) and a water cut of 80%. Accumulated production to date is more than 1,448 barrels of oil.

The Pastinaca 1 well is the first hydrocarbons discovery in a well 100% owned by Ecopetrol since the beginning of 2013. The Company plans to continue its exploratory activities on block CPO-10 in the months to come.

For more information, please contact:

Director of Investor Relations
Alejandro Giraldo
Telephone: +571-234-5190
Fax: +571-234-5628
E-mail: investors@ecopetrol.com.co

Media Relations (Colombia)
Jorge Mauricio Tellez
Telephone: +571-234-4329
Fax: +571-234-4480
E-mail: mauricio.tellez@ecopetrol.com.co

SOURCE Ecopetrol S.A.


Source: PR Newswire