BOGOTA, Colombia, Aug. 24, 2017 /CNW/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC) reports that as part of its process of
reviewing the Ecopetrol Group's corporate structure, at its meeting
of August 18, 2017, the Board of
Directors authorized:
- Taking the necessary measures under applicable law to liquidate
Ecopetrol Global Capital S.L.U., a wholly-owned subsidiary of
Ecopetrol S.A. domiciled in Madrid,
Spain. That company is currently inactive and is no longer
needed by the business group.
- It also authorized taking the necessary measures under
applicable law to liquidate ECP Oil and Gas Germany, a company
domiciled in Frankfurt
(Germany) that is wholly owned by
Ecopetrol S.A. through its Spanish subsidiary Ecopetrol Global
Energy S.L.U. The liquidation will be finalized after completing
the process of canceling the registration of that company's branch
in Angola, as it has already
completed the process of withdrawing from exploratory blocks 38/11
and 39/11 in that country.
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This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please contact:
Head of Capital Markets
Maria
Catalina Escobar
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: (+571) 234 4329
E-mail: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.