Bloomberg News

Pacific Rubiales to Start Trading on Brazilian Exchange

February 01, 2012

(Updates with production in third paragraph, share price in fourth paragraph.)

Feb. 1 (Bloomberg) -- Pacific Rubiales Energy Corp., Colombia’s second-largest oil producer, will begin trading shares on Brazil’s stock exchange tomorrow.

The shares will be listed as Brazilian depositary receipts, the company said in a statement today on the website of Colombia’s securities regulator. The listing doesn’t imply issuing shares, Rubiales said in a separate e-mailed statement.

Toronto-listed Pacific Rubiales, which was founded in 2008 after the merger of Pacific Stratus Energy Corp. and Petro Rubiales Energy Corp., operates Colombia’s largest oil field and has operations in Guatemala and Peru. The company had the capacity to produce 251,000 barrels of oil equivalent a day in 2011, Pacific Rubiales said on its website.

Pacific Rubiales rose 0.7 percent to C$25.40 at noon in Toronto trading. The shares have climbed 36 percent this year.

Ecopetrol SA is Colombia’s largest oil producer.

--Editors: Robin Saponar, Charles Siler

To contact the reporters on this story: Heather Walsh in Bogota at hlwalsh@bloomberg.net; Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net


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