Replies to post #2 on Ecopetrol S.A. (EC)

[eastunder]

Ecopetrol Announces Hydrocarbons Discovery in Colombia

- The Venus-2 well was drilled on block CPO-11, which is 100% owned by Ecopetrol.
- The well produced crude oil of 17° API with a water cut of 39%.

Press Release: Ecopetrol S.A. – Tue, Apr 2, 2013 5:52 PM EDT.. .

http://finance.yahoo.com/news/ecopetrol-announces-hydrocarbons-discovery-colombia-215200821.html



BOGOTA, Colombia, April 2, 2013 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that it has proven the presence of crude oil at Venus-2, an exploratory well located within the municipality of San Martin, Meta province.


The Venus-2 well is part of the CPO-11 block, governed by the Exploration and Production Agreement of December of 2008, between Ecopetrol and the National Hydrocarbons Agency. Ecopetrol holds a 100% interest in this block.

Initial tests carried out using an electro-submersible artificial lift, yielded an average crude oil production of 630 barrels of oil per day (BOD) of 17o API and a water cut of 39%. Ecopetrol plans to continue its exploratory activities on block CPO-11 in the coming weeks.