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Ecopetrol announces important hydrocarbon discovery in Colombian Caribbean ultra-deepwater

  • Presence of hydrocarbons at a depth of 3720 meters (12200 feet) was verified at Kronos-1 well, proving proposed geological model.
  • The Kronos discovery is of great significance for Colombian offshore exploration, confirming the high prospectivity of a new petroleum province in south Caribbean.
  • Once operations are finished at Kronos-1, the same drillship, of latest technology, will be used to drill Calasú-1, located 145 Kilometers (90 miles) north east in Fuerte Norte Block.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) informs that at a depth of 3720 meters, the Kronos-1 well verified the presence of hydrocarbons in ultra-deepwater of Colombian south Caribbean area. This discovery proves the geological model proposed for an unexplored area with high hydrocarbon potential.

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Standard & Poor’s maintains Ecopetrol S.A.'S longterm corporate credit rating at BBB

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) hereby reports that the credit rating agency Standard & Poor’s has maintained Ecopetrol’s long term corporate credit rating at BBB with a table outlook.

Standard & Poor’s mentioned that the new strategy presented by the Company is in line with the current oil market conditions and prioritizes efficient barrels and shareholder returns. The ratings decision also considers, among other things, the very important role of Ecopetrol in the Colombian economy.

The full report is available at www.standardandpoors.com. A credit rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn by the rating agency at any time.

Bogota, July 1, 2015

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Ecopetrol S.A. Presents the Details of the 2014 Earnings Distribution Proposal Approved at the Ordinary Shareholders Assembly

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) at the direction of the Finance Superintendence, hereby publishes the earnings distribution proposal that was approved by the Shareholders Assembly of March 26, 2015.

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Ecopetrol S.A. Files 2014 SEC annual report

Ecopetrol S.A. (NYSE: EC, BVC: ECOPETROL, TSX: ECP), announced today that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2014 with the U.S. Securities and Exchange Commission. The 2014 annual report can be accessed by visiting the SEC's website at www.sec.gov or Ecopetrol's website at www.ecopetrol.com.co. In addition, investors may receive a hard copy of Ecopetrol's 20-F report free of charge by requesting a copy from the contact below.

Investor Relations Director (A)
Claudia Trujillo
Phone: +571-234-5190
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Bogotá D.C., April 29, 2015

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Ecopetrol S.A.'S Board of Directors Approves Membership of Committees

All of these are Independent members of the Board of Directors

Corporate Government and Sustainability Committee

  • Minister of Finance and Public Credit
  • Gonzalo Restrepo López
  • Roberto Steiner Sampedro
  • Horacio Ferreira Rueda
  • Jorge Pinzón Sánchez, Chairman

Compensation and Nomination Committee

  • Minister of Finance and Public Credit
  • Minister of Mines and Energy
  • Gonzalo Restrepo López, Chairman
  • Luis Fernando Ramírez

Businesses Committee

  • Minister of Mines and Energy
  • Minister of Finance and Public Credit
  • Gonzalo Restrepo López
  • Joaquín Moreno Uribe, Chairman
  • Horacio Ferreira Rueda

Bogotá, April 22, 2015

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Annual Report 2014

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Ecopetrol notice on the approval of amended rules and procedures for shareholders' meeting

 

  • Voting on amendments to the bylaws: a new paragraph has been adopted providing that, in the event of a proposed amendment to the bylaws, there shall be a separate vote on any specific article being amended whenever such a vote is requested by a shareholder or group of shareholders representing at least 5% of the share capital during a shareholders' meeting (Article 3, paragraph 1).
  • Increase of the advance notice time for convening ordinary and extraordinary meetings: the required advance notice for convening ordinary meetings has been increased from twenty (20) business days to thirty (30) calendar days and the required advance notice for convening extraordinary meetings has been increased from eight (8) calendar days to fifteen (15) calendar days (Article 4).
  • Dispensing with advanced submission of proxies: repeal of Article 7 section 4, which related to the previous proxy review stage.

For further information, the text of the amended rules and procedures can be reviewed on Ecopetrol S.A.'s website (www.ecopetrol.com.co).

Bogotá D.C., March 26, 2015

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General shareholders' meeting approves a dividend of 70% on the net income of 2014

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announces that the General Shareholders’ Meeting, held today March 26th, 2015, approved an ordinary dividend of one hundred and thirty-three Colombian pesos (COP$133) per share.

The General Shareholders’ Meeting approved a lump sum payment of the total dividend to minority shareholders which will be paid beginning on June 22, 2015.

The dividend payable to the Colombia Nation will be paid as follows:

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General shareholders' meeting announces its decision on the composition of the Board of Directors

Independent representatives:

  • Gonzalo Restrepo Lopez
  • Joaquín Moreno Uribe
  • Jorge Gabino Pinzon Sánchez
  • Luis Fernando Ramirez Acuña
  • Horacio Ferreira Rueda (representative from the hydrocarbons producing provinces)
  • Roberto Steiner Sampedro (representative of the minority shareholders)

Bogotá D.C., March 26, 2015

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Ecopetrol announcement on the amendment to its bylaws approved by the Shareholders' general assembly

  • Extension of the deadline for convening ordinary and extraordinary meetings (amendment to Articles 19 and 20).
  • Majority of the Board of Directors to be comprised of independent directors (amendment to paragraph 1, Article 23).
  • Possibility of carrying out different types of evaluations of the Board of Directors (amendment to paragraph 5, Article 23).
  • Reference to guidelines regulating the appointment and duties of the President of the Board of Directors and the Secretary of the Board of Directors (new paragraph 6, Article 23).
  • Modification in the name of the Audit Committee of the Board of Directors in order to make explicit its risk management role (amendment to Paragraph 27.1 of Article 27).
  • Obligation to comply with voluntarily adopted corporate governance practices (new Article 52).
  • The company's reserves accounts amounting to COP$14.76 trillion were capitalized by increasing the nominal value of shares from COP$250 to COP$609 per share. This capitalization demonstrates the confidence of investors in the Company and boosts its long term financial sustainability.

For further information, the text of the approved reforms can be viewed on Ecopetrol S.A.'s website (www.ecopetrol.com.co).

Bogotá D.C., March 26, 2015

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Ecopetrol´s Board of Directors Appoints Juan Carlos Echeverry as New CEO and Camilo Marulanda as Executive Vice President

Ecopetrol (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announces that today its Board of Directors appointed Mr. Juan Carlos Echeverry as the new CEO of the company, effective April 6, 2015.

With extensive knowledge of economics, the ability to lead processes of change, experience in public administration and prior experience as member of the Board of the Company, Mr. Echeverry meets all the conditions to carry out the reforms that the current price environment demands and execute the institutional strategy re-alignment in which the Company has been engaged in recent months.

 

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Ecopetrol Reports Amendments to Bylaws

 

      • Extension of the deadlines for convening ordinary and extraordinary meetings (amendment to Articles 19 and 20).
      • Majority of the Board of Directors to be comprised of independent directors (amendment to Paragraph 1, Article 23).
      • Possibility of carrying out different types of evaluations of the Board of Directors (amendment to Paragraph 5, Article 23).
      • Reference to guidelines regulating the appointment and duties of the President of the Board of the Directors and the Secretary of the Board of Directors (new Paragraph 6, Article 23).
      • Change in the name of the Audit Committee of the Board of Directors in order to make explicit its risk-management role (amendment to Paragraph 27.1, Article 27).
      • Obligation to comply with voluntarily adopted corporate governance practices (new Article 52).

 

For additional information, the text of the proposal can be reviewed on Ecopetrol S.A.'s website (www.ecopetrol.com.co).

2.  Capitalization of reserve accounts by increasing the nominal value of shares (amendment to Article 6).

This proposal is currently under review and will be posted on Ecopetrol S.A.'s website (www.ecopetrol.com.co) as soon as it becomes available.

Bogotá D.C., March 3, 2015

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Earnings Distribution Proposal for Fiscal Year 2014

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announces its earnings distribution proposal for the year 2014 as approved by the company's Board of Directors; which will be presented for consideration by the Shareholder's General Assembly at its meeting on March 26, 2015:

  • It is proposed that 70% of net earnings of Ecopetrol S.A. for 2014 be distributed as an ordinary dividend.
  • The ordinary dividend would be COP$133.00 per share.

The number of dividend payments will be decided by the Shareholder's General Assembly.

Bogotá D.C., March 3, 2015

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Ecopetrol Announces Its Results for the Fourth Quarter of 2014 and Full Year 2014

  • Net income in 2014 was COP$7,813 billion, 41% below that of 2013, primarily the result of the drop in sale prices, lower volumes sold and the cost increase.

BOGOTA, March 2nd, 2015. Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announced today its audited financial results, both consolidated and unconsolidated, for the fourth quarter and full year 2014, prepared and filed in Colombian pesos (COP$) in accordance with the Public Accountancy Legal Framework (Régimen de Contabilidad Pública, RCP) of Colombia's General Accounting Office.

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Amid a Low Oil Price Environment Standard & Poors maintains Ecopetrol’s International Ratings at BBB with Stable Outlook

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that Standard & Poor's maintained Ecopetrol's international long term rating at BBB with Stable outlook.

The credit rating agency's analysis was carried out in the context of a sharp drop in the international prices of crude oil. In its report, the credit rating agency highlighted the leading position of Ecopetrol in Colombia, Ecopetrol's role in the country's economy and its view of a very high likelihood of adequate and timely support toward the Company from its
main shareholder the Republic of Colombia.

The complete press release is available on www.standardandpoors.com

Bogotá D.C., February 27, 2015

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Ecopetrol's Proven Reserves Increase 5.7% to 2,084 Million Barrels Equivalent

  • The reserve replacement ratio was 146%. For each barrel produced, the company added 1.46 barrels to its reserves.
  • Ecopetrol's reserves/production ratio increased to 8.6 years.
  • Of the outstanding total balance, 70.3% is crude and 29.7% is natural gas.
  • Since 2010, Ecopetrol has increased its reserves by 22%.

Ecopetrol (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announced today its proven reserves (1P, according to the international designation) of crude oil, condensate and
natural gas owned by the company, including its interest in affiliates and subsidiaries, as of
December 31, 2014.

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Ecopetrol Discloses Minority Shareholders' Agreement

Ecopetrol (NYSE: EC; BVC: ECOPETROL; TSX: ECP) reports that representatives of five pension and retirement funds comprising the minority shareholders with the largest holdings of the Company’s shares have submitted a "Shareholders' Agreement", in which such minority shareholders nominate Mr. Roberto Steiner Sampedro as an independent member of the Board of Directors.

Pursuant to the Majority Shareholder’s Declaration, Mr. Steiner is to be included as the ninth item in the program of the Ministry of Finance and Public Credit that will be submitted for consideration at the General Shareholders' Assembly, as representative of such minority shareholders.

Bogotá D.C., February 4, 2015

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Ecopetrol provides information regarding the merger of some of its companies

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that, in compliance with the February 14, 2014 decision adopted by the Board of Directors and having obtained all the authorizations in each of the jurisdictions, the merger agreement between Cenit Transporte y Logística de Hidrocarburos S.A.S. ("Cenit") and EPI- Ecopetrol Pipelines International Limited was formalized, where "Cenit" is the acquirer, therefore dissolving EPI- Ecopetrol Pipelines International Limited. The date in which the transaction was carried out was December 19, 2014.

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Ecopetrol filed its 2013 Annual Report on Form 20-F

Ecopetrol S.A. (NYSE: EC; BVC: ECOPETROL; TSX: ECP) announces, in accordance with the requirements applicable to New York Stock Exchange-listed companies, that its Annual Report on Form 20-F ("Annual Report") for the year ended December 31 2013, was filed with the U.S. Securities and Exchange Commission (the "SEC") on April 25 2014.

 

The 2013 Annual Report can be accessed by visiting either the SEC's website at www.sec.gov or the Company's website at www.ecopetrol.com.co. In addition, holders may receive a printed copy of the Company's complete audited financial statements free of charge by requesting a copy from the Investor Relations Department through the Company's website or at +57 1 234 51 90 or by sending an email to: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Bogotá D.C., January 8, 2015

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