ECOPETROL Shares

ds says on Nov 28, 2007, 07:24:

The boost is caused because Chávez is buying all the shares!

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fecherklyn says on Nov 28, 2007, 16:54:

Yes, the shares closed today at peso 2,045 a mere 46% gain over the peso 1,400 issue price only a few days ago.

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Mononoke28 says on Nov 29, 2007, 13:51:

I believe they're close to $2.400 now.

Diana

Diana

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fecherklyn says on Nov 29, 2007, 15:15:

Diana,

There was 1 transaction at 2,400, the eventual high for the day.

Thereafter, the price gently declined amidst very high turnover and finally closed at 2,080.

This seems very "normal" to me as prices of high profile new issues tend to "balloon" in the first days of coming to the market prior to "deflating" as the short term speculators take their profit.

I'm in Ecopetrol for the long haul and I expect the price to now stabalize around the 1,900/2,000 mark (with volatilty as the 2nd & 3rd tranches are issued) until the results of new exploration efforts come in. But don't take my word for it....my investments are a model of "what not to do".

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