BOGOTA, Colombia, Feb. 8, 2021 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC), pursuant to the provisions set forth in
Article 5.2.4.1.6 - Decree 2555/2010, does hereby confirm the
information published in several media outlets that last
February 5, 2021, received a written
communication issued by the Ministry of Finance and Public Credit,
whom, among other things, announced that:
- They agree to sign an exclusivity contract with Ecopetrol
pursuant to which, during the first half of 2021, Ecopetrol will be
required to consummate the bid it submitted on January 27, 2021 to acquire 51.4% of the
outstanding shares of ISA under an Inter-Administrative
Contract.
- They reserve the right to propose adjustments to the price
range subject to the results of the appraisal and due diligence
processes that it undertakes in parallel to Ecopetrol.
Ecopetrol is Colombia's
largest firm and is an integrated oil company that is among the 50
largest in the world and the four largest in Latin America. In addition to Colombia, where it generates over 60% of the
country's production, it is active in exploration and production in
Brazil, Peru and the United
States (Gulf of Mexico).
Ecopetrol operates the largest refinery in Colombia, most of the country's oil-pipeline
and polyduct network and is significantly increasing its share of
bio-fuels. This press release contains statements relating to
business prospects, estimates of operating and financial results,
and Ecopetrol's growth prospects. All are projections, and
therefore are based solely on management's expectations of the
company's future and its continuous access to capital to finance
its sales plan. Achieving these estimates in the future depends on
its performance under given market conditions, regulations,
competition, the performance of the Colombian economy and industry,
and other factors; therefore, they are subject to change without
prior notice.
For further details, please contact:
Head of Capital Markets
Juan
Pablo Crane
Phone: +571-234-5190
Email: investors@ecopetrol.com.co
Media Engagement (Colombia)
Jorge
Mauricio Tellez
Phone: + 571-234-4329
Email: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.