Colombian Oil: Is It Time To Invest?
Investors-Canadian ones, in particular-may recall Colombia as one of the hottest oil plays in the world.
That was just a few years ago. Huge wells in these plays created huge valuations-and some strong runs for stocks like Pacific Rubiales and Petrominerales.
Today of course is a different story, with stock prices having fallen off the map-despite favorable oil prices. So what happened that caused these sharp share price drops? And are there good reasons for investors to turn back again to Colombia’s oil plays?