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Stock Market & Financial Investment News

News Breaks
January 4, 2013
13:45 EDTGTE, ECGran Tierra Energy reports agreement with Ecopetrol
In an 8-K filing, Gran Tierra Energy Colombia Ltd. said that it and Petrolifera Petroleum, both wholly owned indirect subsidiaries of Gran Tierra Energy (GTE), each entered into an agreement with Ecopetrol S.A. (EC) on December 28, 2012. The Purchase Agreements provide that Gran Tierra Colombia and Petrolifera Colombia agree to sell to Ecopetrol, and Ecopetrol agrees to purchase from Gran Tierra Colombia and Petrolifera Colombia, up to 100% of the volume of crude oil production produced in the Chaza Block, Santana Block and Guayuyaco Block owned by Gran Tierra Colombia and Petrolifera Colombia. The volume of crude oil does not include the volume of oil owned by the National Hydrocarbons Agency corresponding to royalties. The Purchase Agreements further provide that for Putumayo Production that is to be exported through the Port of Tumaco on the Pacific coast of Colombia, the sales point is designated as the Tumaco Port rather than a point in the Putumayo basin.
News For GTE;EC From The Last 14 Days
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October 27, 2014
19:18 EDTECEcopetrol announces hydrocarbon discovery in Gulf of Mexico
Ecopetrol (EC) reports the discovery of hydrocarbons in the Leon exploratory well located deepwater in the Gulf of Mexico, operated by Repsol (REPYY), with 60% ownership, in partnership with Ecopetrol America Inc., with 40% ownership. The well is located 219 miles offshore and 6,120 feet deep in Keathley Canyon Block 642. Drilling reached a total depth of 31,774 feet. Repsol indicated that the results for the Leon well are being evaluated and that additional work is required to determine the size of the hydrocarbon deposit.

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