The following companies are having unusual price changes in Bogota trading.
Stock symbols are in parentheses and prices are as of 11:47 a.m. New York time.
The IGBC Index fell 0.5 percent to 14,269.12, its largest decline in a week, while the Colcap Index dropped 0.2 percent to 1,688.52, its biggest drop in a week.
Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in South America, dropped 17 percent to 2,080 pesos, its biggest slide since listing on Colombia’s bourse in July 2010, after announcing it will abandon its exploratory well in Guyana.
Pacific Rubiales Energy Corp (PRE) , the Toronto-based oil company with fields in Colombia, fell 0.7 percent to 53,360 pesos, its biggest drop in a week.
Investors are skeptical of Canadian oil companies in Colombia as Alange Energy Corp.
(ALE CN), a Canadian oil and gas company with properties in Colombia, faces a class action suit in Canada for allegedly misrepresenting daily oil production, said Juan Nicolas Pardo, head stock analyst at brokerage Valores Bancolombia.
Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, rose 1.5 percent to 3,785 pesos, its highest level since April 8, after the state-run company made a new oil discovery in the central Huila province.
The Nunda-1 well, where Ecopetrol has a 100 percent stake, produced 92 barrels a day in initial tests, the Bogota-based company said in a regulatory filing today.
Stock symbols are in parentheses and prices are as of 11:47 a.m. New York time.
The IGBC Index fell 0.5 percent to 14,269.12, its largest decline in a week, while the Colcap Index dropped 0.2 percent to 1,688.52, its biggest drop in a week.
Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in South America, dropped 17 percent to 2,080 pesos, its biggest slide since listing on Colombia’s bourse in July 2010, after announcing it will abandon its exploratory well in Guyana.
Pacific Rubiales Energy Corp (PRE) , the Toronto-based oil company with fields in Colombia, fell 0.7 percent to 53,360 pesos, its biggest drop in a week.
Investors are skeptical of Canadian oil companies in Colombia as Alange Energy Corp.
(ALE CN), a Canadian oil and gas company with properties in Colombia, faces a class action suit in Canada for allegedly misrepresenting daily oil production, said Juan Nicolas Pardo, head stock analyst at brokerage Valores Bancolombia.
Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, rose 1.5 percent to 3,785 pesos, its highest level since April 8, after the state-run company made a new oil discovery in the central Huila province.
The Nunda-1 well, where Ecopetrol has a 100 percent stake, produced 92 barrels a day in initial tests, the Bogota-based company said in a regulatory filing today.
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