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Colombia Exploration Update to June 2012

Source: ACP, ANH, Hydrocarbons Colombia Actuals to June 2012 This graph shows that Colombia is well on its way to meet or exceed its goals for kilometers of seismic although this will still continue a worrisome downward trend.

Sunday, July 22nd, 2012
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“Yes we will reach the target of one million barrels per day” Minminas

Bottom Line: The mythical target of 1Mbpd realistically has no particular benefit to investors. However the process of getting there is meaningful because the government is going to have to fix a number of things that are currently broken, principally pipeline security and environmentally permitting.

Friday, July 20th, 2012
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Petroamazonas is globalizing and looking at Colombia

Bottom Line: A state-owned company looking mostly to work with other state-owned companies like Ecopetrol. Probably not much opportunity for private companies except at high political risk.

Thursday, July 19th, 2012
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Ecopetrol press release: Ecopetrol and Panatlantic sign exploration agreement Brazil

Bogota, July 18, 2012 Bottom Line: We do not normally track non-Colombian announcements but Ecopetrol is no ordinary Colombian oil and gas company. It’s CAPEX decisions have a huge impact on the country’s hydrocarbons industry.

Thursday, July 19th, 2012
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Ecopetrol Board approves transfer of assets to Cenit

Bottom Line: Cenit moves beyond being a press release to being a real company. The Board of Ecopetrol has authorized management to do the transactions but none of the assets has yet been transferred.

Thursday, July 19th, 2012
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What happened to oil stocks in the Colombian Stock Market?

July 17, 2012 There are four oil companies in the Colombian stock market: state-owned Ecopetrol, Pacific Rubiales, Petrominerales and Canacol.

Thursday, July 19th, 2012
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At June 24,491 new vehicles have Natural Gas: Minminas

Bottom Line: Gas conversions are up as are gas connections overall. Until some of the LNG export plans come on line, local demand will drive producer revenues.

Thursday, July 19th, 2012
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Colombia growing in clean energy: Minister Mauricio Cardenas

Bottom Line: Local demand for hydrocarbons and coal remain important especially for gas. MinMinas continues with the theme of child labor in traditional mining.

Thursday, July 19th, 2012
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Royalties will improve energy services for 25,000 families in Vichada and Casanare

Bottom Line: One of the challenges with Colombian civil society is that extractive industries are viewed only from the negative side of the ledger, especially environmental damage and the impact on traditional ways of life.

Thursday, July 19th, 2012
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Institutional strengthening in mining allows an orderly development of the sector:Minister Cardenas

Bottom Line: Antioquia is perhaps the only Colombian state with a professional mines secretariat and the state is fiercely protective of its autonomy. Here are calm words by MinMinas about working together.

Thursday, July 19th, 2012
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