News and AnalysIs for

October 11, 2012 From a MinMinas press release. Translated and with commentary by Hydrocarbons Colombia

October 10, 2012
From a MinMinas press release. Translated and with commentary by Hydrocarbons Colombia

October10, 2012
NOTE: This is a high level summary for general interest. Anyone participating in the round should have the official documents translated from the original Spanish. We assume no responsibility for problems which might arise using this article as a basis for decisions or actions by those participating in the auction. The National Hydrocarbons Agency (ANH) has published an agenda for October 17, 2012, the day that participants in the 2012 Round will present their offers in Cartagena. The agenda is:

Chile-based GeoPark reported its first half 2012 results in a press release, highlighting acquisitions in Colombia that increased production and successful exploration in Colombia as well.

The company closed two acquisitions in Colombia in the first half and that contributed 88% of the 194% increase in revenues that the company recorded. The price was US$105M and revenue contribution for the first half was US$36M which should make the CFO and the shareholders happy.

From a press release by MinMinas. Translated and with commentary by Hydrocarbons Colombia.

MME, Bogotá, September 17, 2012. Eleven investment projects that will benefit the departments of Arauca, Guanía, Guaviare, Meta and Vaupés, were approved on Monday during a meeting of the College of Management and Decision (OCAD) of the Llanos, chaired by the Minister of Mines and Energy, Federico Renjifo.

Business newspaper Portafolio reports that a project sponsored by high-profile congressman Simón Gaviria and colleague Jaime Rodríguez would allow municipalities to charge mining and hydrocarbons companies a local “Industry and Commerce” tax known as ICA.