BOGOTA, Colombia, April 11, 2011 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC; BVL: EC; TSX: ECP) ("Ecopetrol" or the "Company") has received from the Colombian Ministry of Finance and Public Credit press communication No. 16 of April 4, 2011 of the Constitutional Court of Colombia regarding the unenforceability of Legislative Decree 4820 of 2010, which aimed to make viable, according to the state of emergency declared via Decree 4580 of 2010, the partial transfer of the stocks owned by the Nation – Ministry of Finance and Public Credit in Ecopetrol S.A. up to a maximum of ten percent (10%).
The unofficial English translation of the letter and the press release are available in our website www.ecopetrol.com.co
Bogota, Colombia – April 11, 2011
Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 40 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.
Contact us for any additional information:
Media Relations (Colombia)
Phone: + 571-2345377
SOURCE Ecopetrol S.A.