Bloomberg News

Colombian Stocks: Pacific Rubiales Energy, Petrominerales

June 05, 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 0.2 percent to 14,014.05 while the Colcap Index (COLCAP) dropped 0.2 percent to 1,660.65.

Pacific Rubiales Energy Corp. (PRE) , which operates Colombia’s largest oil field, gained 0.4 percent to 44,800 pesos. The company agreed to acquire PetroMagdalena Energy Corp. for C$1.60 a share.

Petrominerales Ltd. (PMGC) , a Calgary-based oil company that operates in the Andean region, rallied 2.3 percent to 23,280 pesos. The company agreed to buy the remaining 20 percent working interest in three Peruvian blocks from Veraz Petroleum Ltd. for $5 million, payable in common shares of Petrominerales, according to a press statement yesterday. The buyer will “consolidate its participation in the Peru blocks, giving it greater flexibility in its decisions,” Bolsa y Renta analysts including Juliana Aguilar said in an e-mailed report today.

To contact the reporter on this story: Christine Jenkins in New York at

To contact the editor responsible for this story: David Papadopoulos at

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