6-K 1 v141928_6k.htm
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
                        
 
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934

March 4, 2009
                        
 
Commission File Number: 333-153452
                        
 
ECOPETROL S.A.
(Exact name of registrant as specified in its Charter)
                        
 
Carrera 7 No. 37 - 69
BOGOTA - COLOMBIA
(Address of registrant’s principal executive offices)
                        
 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
 
 
Form 20-F
x
Form 40-F
o
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
 
 
Yes       
o
No
x
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
 
 
Yes       
o
No
x
 
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
 
Yes       
o
No
x
 
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):  82-    N/A     
 
 
 
 
 
 
 
Explanatory Note to the Fourth Quarter and 2008 Results
 
Ecopetrol, S.A. hereby clarifies the Administrative Expenses figure as well as the Commercialization and Projects figure under Operating Expenses as reported in our 2008 Financial Results, which were published on February 17, 2009. However, this clarification does not result in a change to our Operating Net Income and thus does not alter the results as reported on said date.

Up to, and including the third quarter of 2008, the non-deductible VAT (value-added tax) was included in the Administrative Expenses line item. However, as of the fourth quarter of 2008, Ecopetrol S.A. made the decision to reclassify this expense under the Commercialization and Projects Expenses line item, since VAT is more closely related to commercial expenses rather than administrative expenses.

For informational and comparison purposes, below please find a breakdown of our Operating Expenses figures, taking into account the VAT re-classification for each of the listed quarters:
 
ECOPETROL S.A.
Income Statements
 
     
Non-Consolidated
      
Non-Consolidated
Year Ended on Dec. 31
      
Consolidated
  Year Ended on Dec. 31
  
                                         
Billions of Colombian Pesos
     4Q-08       4Q-07      
3Q-08
      
2008
      
2007
      
2008
      
2007
  
                                                         
Gross Profit
     1,470       2,989       4,488       14,755       10,267       14,873       10,274  
Operating Expenses
                                                        
Administrative Expenses
     126       121       96       366       322       382       322  
Commercialization and Projects
     771       420       382       1,745       1,165       2,073       1,166  
Adjustment for Previous Quarters
     (77 )     (33 )     54                                  
Operating Net Income
     650       2,481       3,956       12,644       8,780       12,418       8,786  

 
 
 
 
Bogota, March 4, 2009
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
 
Date:  March 4, 2009
 
 
Ecopetrol S.A.
  
       
       
 
By:
/s/ Adriana M. Echeverri   
    Name:  Adriana M. Echeverri   
    Title:    Chief Financial Officer