Ecopetrol Announces Hydrocarbons Discovery in Colombia

- The Pastinaca 1 well was drilled on block CPO-10. It is 100% owned by Ecopetrol.

- The well produced heavy crude (11.7° API)

BOGOTA, Colombia, March 19, 2013 /CNW/ - Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that it has proven the presence of heavy crude oil at Pastinaca 1, an exploratory well located within the municipality of Puerto Lopez, Meta Province.

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The well is part of the CPO-10 Exploration and Production Agreement of December 18, 2008 between Ecopetrol and the National Hydrocarbons Agency.

Initial tests carried out on the Pastinaca 1 well using an electro-submersible artificial lift, yielded an average crude oil production of 202 barrels of oil per day (BOD) of 11.7° API (heavy crude) and a water cut of 80%. Accumulated production to date is more than 1,448 barrels of oil.

The Pastinaca 1 well is the first hydrocarbons discovery in a well 100% owned by Ecopetrol since the beginning of 2013. The Company plans to continue its exploratory activities on block CPO-10 in the months to come.

For more information, please contact:

Director of Investor Relations
Alejandro Giraldo
Telephone: [phone]
Fax: [phone]
E-mail: [email protected]

Media Relations (Colombia)
Jorge Mauricio Tellez
Telephone: [phone]
Fax: [phone]
E-mail: [email protected]

SOURCE: Ecopetrol S.A.

http://www.ecopetrol.com.co

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