I have been bullish on Colombia's state controlled energy company Ecopetrol (NYSE:EC) for some time. But in my last analysis of the company's second-quarter 2012 results, I concluded the company's performance was less than impressive and that investors should brace themselves for a disappointing 2012. I formed this view on the basis that the company had failed to deliver for investors with declining production, a continuing lack of proven reserves and rising costs. Since then, there have been a number of developments that have the ability to act as positive catalysts for the company's performance. As a result, I have undertaken an analysis of the company's third-quarter 2012 results to determine how these developments will impact the...
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