Bloomberg News

Colombian Stock Movers: Petrominerales, Pacific Rubiales, Sura

April 27, 2012

The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses, and prices are as of 12:36 p.m. in Bogota.

The IGBC Index (IGBC) rose 0.4 percent to 15,144.66, while the Colcap Index increased 0.4 percent to 1,766.41.

Petrominerales Ltd. (PMG) , a Calgary-based oil company that operates in the Andean region, slumped 17 percent to 25,620 pesos, the lowest since shares began trading in August. The company found no hydrocarbons at the La Colpa 2X well in Peru after finishing tests, according to a press statement yesterday.

Grupo de Inversiones Suramericana SA (PFGRSURA CB), the parent company of Colombia’s largest bank, gained 1.8 percent to 33,220 pesos, the highest since April 2 on a closing basis. The company posted in a filing to Colombia’s financial regulator first-quarter profit of 178.2 billion pesos ($101 million). Net income more than doubled from 75.8 billion pesos in the same period a year earlier, the company said.

Sura may be added to MSCI Inc.’s Emerging Markets Latin America Index in a rebalancing set to be announced May 15, Banco Santander SA said today in an e-mailed research note.

Pacific Rubiales Energy Corp. (PREC) , a Toronto-based oil producer that operates fields in Colombia, advanced 1.1 percent to 51,500 pesos. Pacific Rubiales agreed to buy a stake in an exploratory offshore block in Peru for $150 million from BPZ Resources Inc. Rubiales also agreed to pay another $185 million for capital and exploration costs for the Z-1 block, the company said in a regulatory filing.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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