September 27, 2013 / 11:00 PM / 6 years ago

Oil producer Pacific Rubiales could buy Petrominerales: sources

Employees of the Canadian Pacific Rubiales Petroleum Company work at an oil excavation pipe at Campo Rubiales field in Meta, eastern Colombia, January 23, 2013. REUTERS/Jose Miguel Gomez

BOGOTA (Reuters) - Toronto-listed oil company Pacific Rubiales PRE.TO, Colombia’s second-biggest producer of crude, could buy rival Petrominerales PMG.TO next Monday, two sources familiar with the situation told Reuters on Friday, after shares in the companies had been halted.

The Toronto Stock Exchange halted trading in the shares of both companies on Friday afternoon, pending news. Just before the trading halt, Petrominerales stock was up 55 Canadian cents at C$7.74, while Pacific Rubiales shares were down 10 Canadian cents at C$21.54.

The representatives in Colombia for either company were not immediately available for comment.

Pacific Rubiales is the second-biggest oil producer in Colombia, while Petrominerales is a smaller operator in the country.

Petrominerales website says it is a Latin American-focused company with projects spanning Colombia, Peru and Brazil.

Reporting by Nelson Bocanegra; Additional reporting by Janet Guttsman; Writing by Peter Murphy; Editing by Carol Bishopric and Leslie Gevirtz

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