GTE

[bellwj]

There have been an increase in the number of attacks on pipelines in Colombia as part of negotiations and the run up to the elections. Has this impacted GTE operations to any extent?

[dan_s]

They had some problems with security last year, but they have not reported any problems this year. In fact, they said on the year-end CC that they felt security was much better. GTE also has the ability to truck out the oil (more expensive) and they have some marketing alternative.

Keep in mind that most pipeline issues are short-term in nature and do not impact the long-term recoverability. Oil sales are very important to Columbia and I am sure their security forces do all they can to keep the oil flowing.

See the Q4 CC transcript.