Drummond Rejects Fraud of Colombian Pension System

Bogotá, April 16, 2018

In light of the millions swindled from pension funds and some bank institutions, in which Company employees were allegedly involved as the result of an investigation carried out by the Prosecutor General of the Nation´s Office and the Technical Investigative Force, Drummond Ltd. would like to inform the public that:

  1. The Company joins in the concern, indignation, and rejection of the regrettable situation reported by the Prosecutor General of the Nation.
  2. The company will give its full support to the authorities to help shed light on the serious events in which significant financial resources have been compromised.
  3. If the occurrence of these events is confirmed, and some of its workers have committed fraud with the country’s pension and banking systems, Drummond Ltd. declares itself to be a victim of that fraud.
  4. Drummond Ltd. will take the corresponding legal and disciplinary actions against those who have allegedly abused or taken advantage of its good faith by presenting false documents in order to obtain undeserved benefits.
  5. The Company hopes that the investigations undertaken by the authorities to establish whether fraud effectively occurred will be quickly resolved, in order to find out who is responsible for this situation.
  6. Drummond Ltd. expects honest and exemplary conduct from all of its employees. At the same time, it confirms its commitment to those employees who use legal means to demonstrate their illness, and will continue to provide them with the necessary support for their recovery.

About Drummond Ltd.:

* Drummond Ltd. and its Policy for Health, Safety and the Environment: Drummond Ltd.’s policy is to conduct its exploration, extraction, and coal and associated hydrocarbons transportation operations in a safe manner, maintaining an integrated management system oriented toward protecting and conserving the environment and the health and lives of its employees, contractors, subcontractors, visitors, and communities, in order to protect everyone’s health and safety in compliance with the applicable laws. For us, industrial safety is a lifestyle that guides everything we do, as together we protect those around us, our surroundings, resources, and ourselves. We continually engage in risk identification and assessment, in order apply controls.



Pablo Urrutia – Cell phone 318-735-7445, Phone (1) 587-1000 Ext. 5809

Margarita Saade – Cell 316-312-4180, Phone (5) 571-9300 Ext. 8581

Wilma Calderon – Cell phone 310-287-6085, Phone (1) 611-5014

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