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Stock Market & Financial Investment News

News Breaks
January 4, 2013
13:45 EDTEC, GTEGran 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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February 7, 2016
13:51 EDTECEcopetrol says minority shareholders nominate board member
Ecopetrol reported Friday that representatives of the minority shareholders with the largest holdings of the company's shares have submitted a "Shareholders' Agreement," subscribed by five pension and retirement funds, in which they nominated Roberto Sampedro as an independent member of Ecopetrol's board of directors. The nomination of Steiner as an independent member of the board and representative of the minority shareholders is to be included as the ninth item in the program of the Ministry of Finance and Public Credit that will be submitted for consideration at the general shareholders' assembly, said the company.
January 28, 2016
10:08 EDTECEcopetrol board approves sale of all shares in Polipropileno del Caribe
Ecopetrol said that yesterday, as part of its divestment plan, its Board of Directors approved proceeding with the process of selling 100% of its shares in the company Polipropileno del Caribe S.A. This decision is aligned with Ecopetrol's new strategy and the proceeds of the sale will be used to strengthen the exploration and production businesses, which are the focus of the company. This sale process will proceed in accordance with Law 226 of 1995, which requires Ecopetrol S.A. to apply for and obtain the approval of the National Government of Colombia.

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