Daily Colombian Equities Bulletin and Fundamentals 6-9-14
June 10, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,683.9 points (0.42%). Total turnover reached USD 60 mn. The best performers were Pacific Rubiales (+6.3%), Fabricato (+5.3%) and Valorem (+1.6%). On the other hand, the worst performers were Isagen (-1.4%), Celsia (-0.8%) and Cemex Latam (-0.6%).
The company informed that the entry into operation of the project UPME 04-2009 - Sogamoso, which should have been ready by May 12, 2014, has to be postponed. However, due to delays in various environmental permits and licenses that are not attributable to the Company, it opted to delay the entry into operation of the project to July 2014, extending the applicable warranty, to avoid committing a breach. This situation implies a payment by ISA as established in the regulations, consisting of a sum of money equivalent to twice the income it has been recognized to the Company since June 2013 by the CREG, which be settled in proportion to the days between May 12 and the actual date of entry into operation. Source: Superfinanciera
EEB | Contugas:
Contugas, subsidiary of Empresa de Energia de Bogota (EEB), inaugurated the regional pipeline of Ica in Peru, which will carry natural gas to households, businesses and industries. The Ica Regional Pipeline has demanded an investment of USD 345 million invested by Contugas and funding from institutions such as the Andean Development Corporation (CAF), among other. Source: Dataifx
Oil and gas sector:
The Ministry of Mines and Energy reports a preliminary oil production figure for May of 950,000 barrels per day (bpd), +1.6% MoM, and equivalent to an average production of 982,000 bpd in the five months of 2014. The oil production was disturbed by public order alterations that affected the crude flow from the Caño Limon - Coveñas pipeline. On the other hand, the estimated monthly gas production reached 1,084 million cubic feet per day (MCFD), which represents a 2.25% decrease compared to the figure of April 2014 of 1,109 MCFD. Source: Ministry of Mines and Energy.
Moreover, a study made by Arthur D. Little for the National Agency of Hydrocarbons (ANH), positioned the country as the most interesting for exploration and exploitation of hydrocarbons in the region. Environmental licenses are the biggest challenge. According to the study, Colombia leads the list of the most attractive for the oil business with a rating of 3.9 out of 5, followed by Brazil and Mexico. Source: Portafolio
The Government issued a decree that modifies the securities issuance regime in the secondary market in Colombia. Through this new regulation, interested companies may issue securities intended for professional investors through a process with lower costs, taking into account the relaxation of the rating requirements and enrollment in the stock market. Source: Dinero.
Corredores Asociados S.A. Comisionista de Bolsa is not responsible for investment decisions that may be derived from the information and analyses presented in this document. These decisions, their effects and consequences will be the sole responsibility of the investor. The information published is informative and has been taken from reliable sources, but Corredores Asociados S.A. does not guarantee that they are free of errors. Total or partial reproduction of this document is not allowed without the prior and express authorization of Corredores Asociados S.A.
To View Complete Report: 6-9-14
This news is published on the Investorideas.com Newswire and its syndicated partner network
Get free news alerts:
Sign up here
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news as well as creates original content as a news source. Original content created by investor ideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and global syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions and advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers.
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.