Accionistas de Ecopetrol no han recibido documentos legales para asamblea

WEBVTT

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In the WU report Colonel Daniel,
the Copetrole film welcome, good morning July.

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This is today' s Colonel report. For the coming 22nd of March,

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that is, by Friday in two
weeks, is cited to the General

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Assembly of Shareholders of Copetrol, the
highest decision- making body of the country

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' s main company. By regulation, it is established that shareholders must receive

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the information and documents to be considered
by the Assembly at least 15 working days

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before the meeting. That date should
be the first of March, that is,

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last Friday. However, today is
6 March and Eco Petron has not

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published the iron with the new board
members proposed by the government, nor the

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profiles of these potential members, nor
the regulatory letter of acceptance of the nominees

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nor the name of Director Pop Sons
sto by the hydrocarbon producing departments on Copetrol

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' s website. You can compare
the documents submitted to this year' s

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General Assembly with those of last year. In the year two thousand twenty-

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three were presented to the Assembly of
the names of the nine members of the

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Board of Directors, Saúl Catán,
Mónica de Greve, Gonzalo Hernández, Claudia

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González, Mauricio Cabrera, Luis Alberto
Zuleta, Esteban Piedradita, Sandra Espina and

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Juan José Echavarría. This year,
twelve working days after the General Assembly,

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the names of the board members proposed
by the majority majority shareholder, that is,

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the nation that owns more than eighty- eight percent of the company,

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have not been officially announced. The
names have only been officially transcended by a

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newspaper publication The time according to which
the national government will run as board members

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Angela María Robledo, presidential formula partner
of the candido de ato, Gustavo Petro

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in two thousand eighteen, Lilia Tatiana
Roa Vendaño, Vice Minister of Environmental Development

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of the Ministry of Environment, Edwin
Palma, Deputy Minister of Labor Relations of

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the Ministry of Labor and Guillermo García
Realpe, former Nicaraguan Liberal senator. Also,

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according to the leak not initially denied, he was proposed as a member

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of the board representing the hydrocarbon producing
departments, Mr Ignacio Pombo, but in

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the face of an eventual incompatibility for
a repetition action when he directs which sports

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he was replaced in the short span
of two hours byÁlvaro Torres Macías,

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an electrical engineer friend of Copetrol President
Ricardo Roja. However, all these applications,

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which should have been made official last
Friday, still do not appear at

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this time on Copetrol' s website
and, as a consequence, are not

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part of the documents submitted to the
ACS, which have the right to know

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the candidates in due time. The
reason for the delay seems to be in

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sending a letter from seven current members
of the Board of Directors of Copetrol to

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the president of the company Ricardo Roa, in which they express concerns about the

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nomination of two candidates on the unofficial
plate. The established report that these concerns

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have to do with the candidates for
the Board, Edwin Palma and Lilia Tatiana

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Roja. The first case arose from
the review of compliance with legal requirements by

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Dr Edwing Palma, Deputy Minister of
Labour, who, according to the interpretation

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of some members of the current Board, does not comply with the minimum professional

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exercise time set out in the regulations. Dr Palma is a lawyer with a

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master' s degree in law and
has been a leader of the Union Labor

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Union using Copetrol' s union.
Some are under- accredited that he has

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served as a lawyer for the time
required to become a member of the Board.

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The other concern is not of a
legal nature of compliance, but rather

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of the position that has been publicly
and for a long time maintained by other

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nominees to the Board. This is
Lilia Tatiana Roa, the vice- minist

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of the environment, who is an
oil engineer, but above all she is

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an environmentalist. She has opposed the
application of fracking in hydrocarbon recovery for years.

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There is resistance to this method throughout
the world because of its environmental consequences,

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as it produces gas leaks that contribute
to the greenhouse effect, increases seismicity

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in exploration and exploitation areas and damages
forests by areas that must be cleared for

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application. What is complicated is that
Colombia, in association with the OXI,

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produces 200, 000 barrels of oil
per day in Texas. An immense amount

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is taken into account that Colombia'
s daily production reaches six hundred and fifty

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thousand barrels. Moreover, the reserves
proven in these fields, exploited together with

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the OXI, reach four hundred million
barrels, while Colombia' s total reserves

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reach just one million eight hundred thousand
barrels. Let' s get this straight.

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Much of the future revenue and profits
of copetrol depend on a fracking and

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eco petrol business is the government wallet
for its social programs. So the Board

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of Directors and the potential new member
will have to decide between the opposition to

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fracking or the drastic reduction of the
public budget to comply with the government program,

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a complicated dilemma. Some members of
the board of directors think that Vice

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- Minister Liliana Lilia Tatiana Roa,
should declare herself prevented for all matters related

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to Frackin for having taken parties on
the matter ahead of time and for years.

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Anyway, the point is that this
is March 6th and the official documents

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for the election of board of directors
have not been published by ecopetroll for the

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knowledge of the shareholders. Any one
of them and it is millions of people

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who have Copetron' s actions could
demand the decisions of the Assembly for this

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omission. This was today' s
Colonel report. Thank you very much.