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Ecopetrol announces its results for the third quarter
  • The consolidated average production (Ecopetrol S.A. including interests in affiliates and subsidiaries) in the third quarter of 2012 increased by 1.6% compared to the same quarter of 2011.
  • Ecopetrol S.A.´s net income for the third quarter was COP$3,247.5 billion, equivalent to COP$78.99 per share.
  • Revenues, operating income, EBITDA and net income of Ecopetrol S.A. in the nine-month period ended September 30, 2012, increased by 10.0%, 3.7%, 4.1% and 2.3%, respectively, compared to the first nine months of 2011.

Ecopetrol S.A. announced today its unaudited financial results, both consolidated and unconsolidated, for the third quarter and first nine months of 2012, prepared and filed in Colombian pesos (COP$) in accordance with the Public Accountancy Legal Framework (Regimen de Contabilidad Publica, RCP) of Colombia´s General Accounting Office.

Some figures in this report are presented in U.S. dollars (US$) where indicated. The tables shown in the body of this report have been rounded to one digit. Figures presented in COP$ billion are equivalent to COP$ one thousand million.

See complete report.

October 29, 2012

About Ecopetrol S.A.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) is the largest company in Colombia based on revenue, profits, assets and net equity. Ecopetrol is the only Colombian vertically integrated crude oil and natural gas company with operations in Colombia, Brazil, Peru and the U.S. Gulf Coast. Its affiliates include the following companies: Propilco, Black Gold Re Ltd., Ecopetrol Oleo e Gas do Brasil Ltda., Ecopetrol America Inc., Ecopetrol del Perú S.A., Hocol, Equión Energía Limited, Andean Chemicals Limited, COMAI, Bioenergy S.A., ODL Finance S.A., ECP Global Energy, Ecopetrol Transportation Company, Ocensa S.A., Oleoducto de Colombia, Refinería de Cartagena, Ecopetrol Transportation Investment, Ecopetrol Capital AG, Oleoducto Bicentenario de Colombia S.A.S., and Cenit Transport and Logistics of Hydrocarbons S.A.S . ("Cenit"). Ecopetrol S.A. is one of the 50 largest oil companies in the world and one of the four main oil companies in Latin America. The company is majority owned by the Republic of Colombia (88.5%), and its shares trade on the Bolsa de Valores de Colombia S.A. (BVC) under the ticker "ECOPETROL", the New York Stock Exchange (NYSE) under the ticker "EC", and the Toronto Stock Exchange (TSX) under the ticker "ECP". The company divides its operations into four business segments as follows: 1) Exploration and Production, 2) Transport, 3) Refining & Petrochemicals, and 4) Supply and Marketing.

For more information on Ecopetrol, please visit www.ecopetrol.com.co

Forward-looking statements

This news release contains forward-looking statements related to the prospects of the business, estimates for operating and financial results, and growth forecasts of Ecopetrol. These are projections, and, as such, are solely based on the expectations of management concerning the future of the company and its continued access to capital to finance the company´s business plan. Such forward-looking statements depend, essentially, on changes in market conditions, government regulations, competitive pressures, performance of the Colombian economy and industry, among other factors; therefore, they are subject to change without prior notice.

Contact information:

Investor Relations Director
Alejandro Giraldo

Telephone: +571-234-5190
E-mail: investors@ecopetrol.com.co

Media relations (Colombia)
Jorge Mauricio Tellez

Telephone: + 571-234-4329
E-mail: mauricio.tellez@ecopetrol.com.co

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