Petrominerales Ltd. (PMGC), the Calgary-based oil producer with most of its operations in Colombia, rose the most in eight weeks after saying it was able to produce oil from a test well.
The shares advanced 10 percent to 11,280 pesos at 1:17 p.m. in Bogota, set for the biggest gain since June 18. It was the biggest advance on the Colcap equity index, which was little changed.
Petrominerales said in a statement today that a test of its Taya-1 well produced 5,218 barrels of oil per day.
The oil explorer has lost 23 percent this year, the biggest decline on the Colcap.
To contact the editor responsible for this story: David Papadopoulos at email@example.com