Investor Presentaiton

Secondary recovery and EOR • Potential for EOR/IOR: 17% of Ecopetrol's OOIP is subject to be recovered through EOR/IOR projects. Screening process: 94% of OOIP had gone through a screening process to select the best technology applicable. Insitu combustion: By Dec. 2012 Ecopetrol might start a combustion in situ project at Chichimene field. Waterflood: In situ combustion 34% . 21 fields implemented • • 21 fields new pilots/projects in progress 93 fields with possible implementation Source: Ecopetrol Breakdown by source Gas 12% In field Drilling 27% WO & stimulation 1% Optimization & new Steam 1% Polymers & CO2 Secondary 15% projects 5% 5% 60%the Years 20 20

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