Ecopetrol S.A. Announces Exchange Offer Results

Ecopetrol S.A.a Colombian mixed economy company (the "Company"), announced today the results of its offer to exchange (the "Exchange Offer") registered 7.625% Notes due 2019 (the "New Notes") for up to U.S.$1,500,000,000 aggregate principal amount of its 7.625% Notes due 2019 (the "Old Notes"), upon the terms and subject to the conditions described in the prospectus dated September 3, 2009 (the "Prospectus"). The Exchange Offer expired on Friday, October 2, 2009 and it will not be extended.

The following table contains the results of the Exchange Offer:

CUSIP Nos.of Old Notes

ISIN Nos.of Old Notes

CUSIP No.of New Notes 

ISIN No. of New Notes

Principal Amount of
Old Notes Tendered

Principal Amount of New Notes to be Issued

(Rule 144A)P3661PAA9(Reg. S)

(Rule 144A)USP3661PAA95(Reg. S)



(Rule 144A)
U.S.$1,492,541,000(Reg. S)


The Company will not receive any proceeds from the Exchange Offer. The terms of  the New Notes to be issued are identical to the Old Notes, except for the transfer restrictions and registration rights relating to the Old Notes. The Company expects to deliver the New Notes on or about October 7, 2009. The Company will apply to list  the New Notes on the New York Stock Exchange.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the New Notes, nor have they determined if the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

This announcement shall not constitute an offer or a solicitation to exchange, nor shall there be any exchange of the Old Notes in any jurisdiction in which such offer, solicitation or exchange would be unlawful. This announcement shall not constitute an offer or a solicitation to exchange the New Notes.

Bogota, October 5, 2009

Contact us for any additional information:

Investor Relations
Alejandro Giraldo
Phone: +571-234-5190

Media Relations (Colombia)
Mauricio Téllez

Phone: + 571-2345377
Fax: +571-2344480