The South African mining company said it made the "unfortunate decision to stop all project activities...until there's certainty about mining activity in the country."
Orinoquia Capital received 25 million shares as the result of an April 4 merger between a wholly owned subsidiary of PMI Resources and PentaNova Energy Corp.
Ecopetrol holds a 50% interest in the Magdalena Middle Valley's Boranda-1 well, which is operated and 50% controlled by Canadian exploration company Parex.