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Bad weather blocks Equion off-shore drilling

July 24, 2012 By Hydrocarbons Colombia Colombian business magazine Dinero.com reports that Equión’s exploratory drilling at the Mapalé-1 well is postponed until further notice because of bad weather.

Tuesday, July 24th, 2012
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Attack on Cano Limon Coveñas causes environmental emergency

Bottom Line: Another terrorist attack causes an environmental emergency because there are no contingency plans. Occidental must respond.

Monday, July 23rd, 2012
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“Santander oil spill emergency is controlled”

Bottom Line: This is a different incident caused by crude oil theft by unknown parties rather than an attempt to destroy the pipeline.

Monday, July 23rd, 2012
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On strike at La Jagua mine

July 19, 2012 Business newspaper Portafolio reports that after 49 days of talks with the directors of the company, the workers of the La Jagua Coal mine, operated by Prodeco (a subsidiary of Switzerland’s Glencore), yesterday morning began an indefinite strike.

Monday, July 23rd, 2012
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Controversy over mining reserve in the Amazon

July 20, 2012 The formation of Strategic Mining Reserves was always going to be a triple balancing act:

Monday, July 23rd, 2012
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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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