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UPDATE 2-Canacol Energy not in talks with Ecopetrol over gas assets, chief executive says

Reuters
·1 min read

(Adds quote and comments from Canacol CEO in paragraphs 6-7)

BOGOTA May 10 (Reuters) - Canada's Canacol Energy has not had any discussion with Colombia's majority state-owned oil company, Ecopetrol, regarding a transaction over its gas assets in the Andean country, Chief Executive Charle Gamba said on Friday.

Ecopetrol's CEO, Ricardo Roa, earlier this week said the Colombian company was analyzing the potential to incorporate Canacol Energy's assets in its own portfolio.

On Wednesday, Roa said Ecopetrol was considering buying the Canadian company's gas assets amid growing concern that Colombia will lose gas self-sufficiency in five years.

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"I would like to formally state that we have not had any discussions with Ecopetrol at all about a corporate transaction or any other transaction," Gamba said during an earnings call, according to a statement shared by a company spokesperson.

Canacol Energy has not held any other discussions with any other company or bank regarding possible transactions, he added.

The Ecopetrol CEO's comments reflect Canacol Energy's strategic importance and value, Gamba said, adding it was no surprise other company's were interested in the Canadian business' gas reserves.

The reserves "were recently evaluated by our independent auditor for a 10% discounted pre-tax value of $1.8 billion," Gamba said. (Reporting by Oliver Griffin; Editing by Leslie Adler)