Equion, affiliate of Ecopetrol, Reports the Presence of Gas in the Mapale-1 Well Offshore the Caribbean Coast of Colombia

 Equion, affiliate of Ecopetrol, Reports the Presence of Gas in the Mapale-1
                Well Offshore the Caribbean Coast of Colombia

PR Newswire

BOGOTA, Colombia, Nov. 7, 2012

BOGOTA, Colombia, Nov. 7, 2012 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL;
NYSE: EC; TSX: ECP) reports that its affiliate Equion Energia, the operator of
the exploratory well Mapale-1 drilled in the waters of the Caribbean Sea off
Colombia's coast, has indicated that fluid tests and recordings carried out on
the well show the presence of dry natural gas.

(Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO)

With exploratory drilling complete, Equion Energia will begin the technical
evaluation phase, which will take into account the well's results and
previously acquired seismic data in the area, in order to determine the
potential of the gas discovery.

The Mapale-1 well was drilled offshore on Block RC5, an area awarded by the
ANH in 2007. Equion Energia is the operating company and has a 40.56% stake
and the other partners are Ecopetrol with a 32% stake and Petrobras with a
27.44% stake.

Ecopetrol is Colombia's largest integrated oil & gas company, where it
accounts for 60% of total production. It is one of the top 50 oil companies in
the world and the fourth largest oil company in Latin America. The Company is
also involved in exploration and production activities in Brazil, Peru and the
United States Gulf Coast, and owns the main refineries in Colombia, most of
the network of oil and multiple purpose pipelines in the country,
petrochemical plants, and is entering into the biofuels business.

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

Contact us for any additional information:

Investor Relations
Alejandro Giraldo
Phone: +571-234-5190
Email: investors@ecopetrol.com.co

Media Relations (Colombia)
Mauricio Tellez
Phone: + 571-2345377
Fax: +571-2344480
Email: mtellez@ecopetrol.com.co

Website: www.ecopetrol.com.co

SOURCE Ecopetrol S.A.

Website: http://www.ecopetrol.com.co
 
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