THE STORY BEHIND PACIFIC RUBIALES

THE STORY BEHIND PACIFIC RUBIALES

Pacific Rubiales, the star of Colombian Stocks some years ago is a company ensemble for four Venezuelans that left their country tired of the oppressor practices of the Chavist Government and realized that Colombia was their biggest chance to make big bucks.

Pacific Rubiales, the star of Colombian Stocks some years ago is a company ensemble for four Venezuelans that left their country tired of the oppressor practices of the Chavist Government and realized that Colombia was their biggest chance to make big bucks.

They are Ronald Pantin, former employee at PDVSA for 23 years, Petroleum Engineer, Jose Francisco Arata, geologist and accredited oil explorer for over 20 years, Miguel de la Campa International Economist and an expert on entrepreneurial topics and Serafino Iacono the markets expert of the group with more than 30 years experience in the field.

They had had their own personal investments in the country in 1995 in some mining projects but was not until 2004 that they decided to get together in Canada in Toronto Exchange Stock market and found Pacific Rubiales Energy taking advantage of the recently founded Agencia Nacional de Hidrocarburos national oil Agency in 2003 with the intention of exploring and producing oil, gas and mining .

The great boom of the company started in 2007 as the company entered the exploration and  production in Campo Rubiales, today the biggest producer of oil in the Country.

In 2011 the company explored 71 wells in Colombia but also exploring in Peru but is also having a diversified portfolio that includes mines of iron, gold, coal and steal and also another tipe of business such as the news, they own the 19% of Cable Noticias and El Tiempo which afterwards they sold to Luis Carlos Sarmiento.

They own 100% operation in Metapetroleum Company, Proelectrica Thetys Petroleum and Quito Petroleum. Also owns  agricultural companies and a number of different tubes to transport oil and gas through Colombia, Panama and Ecuador.

The company has expended to different business in Colombia, becoming a great entrepreneurial group. The stock is the start of the IGBC and the net profits of 2011 were USD 554 millions and 3.3 billion dollars in incomes.

The company has great plans for the future and great challenges ahead, one is the dispute that has with Ecopetrol for the Quifa Block and a misunderstanding that has had with the royalties reported to the Colombian government for their operation.