Colombia News Sections
| Colombian Stock Movers: Pacific Rubiales, Canacol Energy Gain |
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| Colombian News - Money, Finance, Economics | |||
| Wednesday, 11 January 2012 01:55 | |||
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The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. local time. The IGBC Index gained 2.9 percent to 13,307.98, while the Colcap Index rose 1.2 percent to 1,618.88. Canacol Energy Ltd. (CNEC CB) climbed 6.8 percent to 1,645 pesos, a four-month high. The Calgary-based oil company that operates fields in Colombia has jumped 39 percent since Dec. 27, the day before saying in a statement that it completed the drilling of an oil well in the Rancho Hermoso field and that it is “fully financed” to carry out its 2012 plan of 14 exploration and 26 development wells. Oil rose for the first time in four days on renewed concern that Middle East tension will disrupt supply and as equities advanced, raising economic optimism. Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, rose 8.7 percent, the most since the shares began trading in December 2009, to 40,120 pesos. The company said it expects production growth of 15 to 35 percent and to spend $1.2 billion in 2012, according to a statement on the company’s website yesterday.
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