Investor Presentaiton

Sources of production growth 2011 - 2015 Incremental production by source: 2011-2015 (thousands of equivalent barrels of oil per day) 106 123 724 2011 Current fields Colombian Exploration (e) : estimated Source: Ecopetrol 27 Unconventional in Colombia 1,000 20 International Exploration 2015(e) 60e Years 18

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