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Ecopetrol filed an amendment to give effect and formalize changes to its bylaws approved by its General Shareholders' Meeting of

Ecopetrol filed an amendment to give effect and formalize changes to its 
bylaws approved by its General Shareholders' Meeting of 2013 
BOGOTA, Colombia, June 14, 2013 /CNW/ - Ecopetrol S.A. (NYSE: EC; BVC: 
ECOPETROL; TSX: ECP) announces that the amendment to its bylaws approved by 
its General Shareholders' Meeting on was formalized in Public Deed No 666 with 
Notary 65 of the of the Bogota Circuit and filed to give effect and formalize 
the changes to its bylaws on form 01731747. 
This amendment gave the Board of Directors the power to authorize the issuance 
and placement of non-convertible bonds and other debt securities, as well as 
to regulate and approve their respective prospectuses. The aim of this 
amendment is to expedite the process in cases where the Company may issue 
bonds for financing. 
Concretely, two articles of the bylaws of Ecopetrol were amended: 
(i) Article eighteen, letter (g) – Functions of the General Shareholders' 
Meeting. 
(ii) Article twenty six, numbers 12, 29 and 30 of the Functions of the Board 
of Directors. 
The changes are summarized in the following table. 
Approved amendments to the Company's bylaws 
                                                                    
PREVIOUS TEXT                      AMENDED TEXT                         
ARTICLE EIGHTEEN: FUNCTIONS OF THE ARTICLE EIGHTEEN: FUNCTIONS OF THE
SHAREHOLDERS' GENERAL ASSEMBLY.-   SHAREHOLDERS' GENERAL ASSEMBLY.-
The Shareholders' General Assembly The Shareholders' General Assembly
shall exercise the following       shall exercise the following
functions, both at its regular and functions, both at its regular and
extraordinary meetings:            extraordinary meetings: 
(…)                          (…) 
                                                                    
(g) Authorize any issuance and     (g) Authorize any issuance and
placement of shares, as well as to placement of shares, as well as
order any issuance of convertible  any issuance of convertible bonds,
bonds, whether these are or not to whether these are to be
be convertible into ordinary or    convertible into ordinary or
preferred shares.                  preferred shares. 
ARTICLE TWENTY-SIX: FUNCTIONS:     ARTICLE TWENTY-SIX: FUNCTIONS:
Functions of the Board of          Functions of the Board of
Directors:                         Directors: 
(…)                          (…) 
12) Regulate the issuance and      12) Regulate the issuance and
placement of THE COMPANY's bonds   placement of THE COMPANY's shares
and shares and approve their       and approve their respective
respective prospectuses. In any    prospectuses. In any event, the
event, the Board of Directors may  Board of Directors may delegate
delegate the following to the      the following to the President of
President of THE COMPANY: approval THE COMPANY: approval of the
of the subscription regulation,    subscription regulation, the
the issuance prospectus and all    issuance prospectus and all other
other documents relating to the    documents relating to the issuance
issuance and placement of shares   and placement of shares.
and bonds. 
                               29) Authorize the issuance and      
29) All other functions assigned   placement of THE COMPANY's bonds,
by Law, these Bylaws and the       provided such bonds are not
Corporate Governance Code.         convertible into shares, and other 


                                   debt securities or instruments
                                   that enable the financing of THE
                                   COMPANY, regulate them and approve
                                   their respective prospectuses. In
                                   any event, the Board of Directors
                                   may delegate the following
                                   functions to the President of THE
                                   COMPANY: the approval of the
                                   subscription regulation, the
                                   issuance prospectus and all other
                                   documents relating to the issuance
                                   and placement of securities or
                                   instruments.
                                   30) All other functions assigned
                                   by Law, these Bylaws and the
                                   Corporate Governance Code.
                                                                       
                                    

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.

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

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

http://www.ecopetrol.com.co

http://photos.prnewswire.com/prnh/20090209/ARM001LOGO

SOURCE: Ecopetrol S.A.

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CO: Ecopetrol S.A.
NI: OIL UTI FIN 

-0- Jun/14/2013 21:10 GMT


 
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