Bloomberg News

Colombian Stocks: Canacol Energy, Petrominerales Are Active

March 30, 2012

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of the close of trading.

The IGBC Index (IGBC) fell 0.8 percent to 15,038.26. The Colcap Index declined 0.4 percent to 1,743.63.

Canacol Energy Ltd. (CNEC) plunged 14 percent to 1,400 pesos, the biggest drop in 11 months. The Calgary-based oil company that operates fields in Colombia said it has abandoned an exploration well in the Andaquies block. “It confirms our concern in the outlook of production for the mid-term,” analysts Maria Adelaida Velasquez and Juan David Pineros of brokerage Interbolsa SA said in a research report today.

Petrominerales Ltd. (PMGC) (PMGC CB), a Calgary-based company that explores for and produces oil in Colombia, climbed 2.5 percent to 33,280 pesos. Petrominerales rose in line with crude prices in New York.

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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