Pacific Rubiales Energy Corp. yesterday held a press conference about unrest and disturbances occurring this week at the Rubiales and Quifa fields located in the Llanos Orientales of Colombia. The disturbances are the result of actions by groups of people who do not work for the Company.
The Company has not suspended oil production at the fields, and it intends to do its utmost, in coordination with government security forces, to seek a prompt resolution to these disturbances.
Pacific Rubiales, a Canadian-based company and producer of natural gas and heavy crude oil, owns 100 percent of Meta Petroleum Corp., a Colombian oil operator which operates the Rubiales and Piriri oil fields in the Llanos Basin in association with Ecopetrol S.A., the Colombian national oil compan. The Company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia as well as in other areas in Colombia, northern Peru and Guatemala. Pacific Rubiales has working interests in 46 blocks in Colombia, Peru and Guatemala.
The Company's common shares trade on the Toronto Stock Exchange and La Bolsa de Valores de Colombia under the ticker symbols PRE and PREC, respectively.
Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 5.7 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.