1
Hocol et Huron updates le Jeu 14 Mai - 22:47
Source: ecopetrol resultats Q1
http://www.marketwatch.com/story/ecopetrol-reports-its-results-for-the-first-quarter-of-2009
Finalisation de l'aquisition en Juin
Réserve 2P estimées pour le moment par ecopetrol 61mb
Hocol
Hocol's acquisition (to be finalized in June) aims at strengthening Ecopetrol's position in Colombia, providing reserves, production, and cash flow in the short run, as well as strengthening the Company's exploration portfolio. In addition for an efficient production operation, HOCOL has 13 exploration blocks. The transaction value is US$ 580 million as company value plus an estimated US$ 168 million for working capital.
The agreement includes an additional payment clause in accordance with the 2P reserves to be certified at the Huron well, Niscota block, certification that is still pending. The clause contemplates the payment of an amount that depends on the average WTI price during the six months prior to the reserve certification date, and another payment corresponding to a percentage of the average WTI for the value of the 2P reserve certified, with a maximum value of US$ 50 million.
Ecopetrol estimates total reserves of 61 million barrels of oil equivalent in 2P reserves (proven + probable).
http://www.marketwatch.com/story/ecopetrol-reports-its-results-for-the-first-quarter-of-2009
Finalisation de l'aquisition en Juin
Réserve 2P estimées pour le moment par ecopetrol 61mb
Hocol
Hocol's acquisition (to be finalized in June) aims at strengthening Ecopetrol's position in Colombia, providing reserves, production, and cash flow in the short run, as well as strengthening the Company's exploration portfolio. In addition for an efficient production operation, HOCOL has 13 exploration blocks. The transaction value is US$ 580 million as company value plus an estimated US$ 168 million for working capital.
The agreement includes an additional payment clause in accordance with the 2P reserves to be certified at the Huron well, Niscota block, certification that is still pending. The clause contemplates the payment of an amount that depends on the average WTI price during the six months prior to the reserve certification date, and another payment corresponding to a percentage of the average WTI for the value of the 2P reserve certified, with a maximum value of US$ 50 million.
Ecopetrol estimates total reserves of 61 million barrels of oil equivalent in 2P reserves (proven + probable).
