Echo Energy Share Discussion Threads

[helpfull] 30/4/2021 10:12

Campo Limite? Another RNS from President Energy outlining their drilling and commercialisation success in Argentina. They even outline the potential rewards. How long is it since the start of the wait announced by Echo Energy? It must be a different Argentina. Some people just seem to have the wherewithal to get things done. Of course the problems for Echo Energy and Campo Limite are special. Aren't they always? Perhaps they should ask for help? Be careful. https://www.investegate.co.uk/president-energy-plc--ppc-/rns/operations-update/202104300745052022X/

[terminator101] 28/4/2021 13:09

The crew are getting back in again. Time to pump and dump. #rinseandrepeat

[oilbuy] 28/4/2021 09:11

Based on your posting here, you are finished.Must have lost a fortune or else never became successfulOr you are shorting Or you are a paid deramper.Either way Martin Hull has created a base to grow an oil company in a rising oil price environmentBy christmas we will be at 3000boepd and POO is heading above $80Your an expert at spouting figures and probably an accountant and this profession make the worst business leaders because of their conservative nature , similar to bankers. Good side kicks but not business leaders !

[helpfull] 28/4/2021 08:57

Will Campo Limite ever be finished? A year or so mysteriously on the back burner. Of course there are excuses as to why there is no progress in Argentina. But some companies manage to prosper and continue to drill without a fuss. President Energy(PPC) being a good example: https://www.investegate.co.uk/president-energy-plc--ppc-/rns/operations-update/202104280700027669W/ And they even outline the way forward. Of course the problems for Echo Energy and Campo Limite are special. Aren't they always? Perhaps they should ask for help? Be careful.

[terminator101] 26/4/2021 17:35

https://twitter.com/darrenukdaytra1/status/1386547300466577413?s=21 Broke through support. Next step fill that gap on the down side.

[billthebank] 22/4/2021 09:51

You have a lot of input on here and is full of information which is great thanks.I have to say it is all very negative. What price have you invested in if you dont mind me asking. What positives made you invest initially and what do you think is a reasonable value to buy back in?

[loverooster69] 20/4/2021 14:02

Thanks H! Well, I guess we'll find out soon enough, H1 results can't be round the corner...

[helpfull] 20/4/2021 12:54

As oil, the same applies to gas. In Q1 2021, 809 mmscf of gas were produced. About 9 mmscf per day. So for Q2, 818 mmscf can be expected. A total of 1,627 mmscf. In H1 2020 1,954 MMscf gas were produced. A fall of about 17% is to be expected. In the H1 2020 results investors were told " monthly volume weighted average gas prices for the period to 30 June 2020 ranged from US$2.10-US$2.77/mmbtu". This H1 any rise in gas prices will be accounted for by a fall in production. The same gas revenues as H1 2020 can be expected. So total revenue will be similar at US$5.6 million (of which US$3.5 million related to gas sales and US$2.1 million related to oil sales).

[loverooster69] 20/4/2021 11:52

Thanks Helpfull, that makes sense. Do you think there will be any merrit at all to the claimed increase price on gas? quote: For the committed production over the key southern winter period (May to September), the Company will sell natural gas at an average price of $3.52 per mmbtu, which compares to $1.35 per mmbtu for industrial clients the previous year. Best regards, LR

[helpfull] 20/4/2021 11:38

I'm sorry but I only wrote about barrels of oil. 152,603 refers to barrel of oil equivalents. This is oil and gas output combined. It is not valued the same as a barrel of oil. My figures are simply barrels of oil. Gas needs to be valued separately. I suspect gas revenue will be the same as H1 2020.

[loverooster69] 20/4/2021 11:27

Helpfull, very insightful posts, thanks for your input. You mention H121 revenue of USD 2.1m. The update yesterday mentioned 152,673 boe net to Echo - meaning roughly USD 7.9m revenue per quarter, net to Echo I'm assuming. Is this incorrect? Genuine question, thanks in advance for your response. Best regards, LR

[helpfull] 20/4/2021 10:40

The Operational update yesterday gives an indication of oil production numbers for H1 2021. 17,814 bbls of oil and condensate for the first three months of the year. By great effort Echo Energy has managed to increase daily net production to 230 bbls/d. For Q2 2021 that would give another 20,930 bbls of oil. In total that would be 38,744 bbls of oil for H1 2021. Compare that to 65,203 bbls of oil and condensate for H1 2020. Would that be a drop of 40%? Remember in March 2020 oil prices fell off a cliff due to Covid-19. Oil prices realised averaged US$34.7/bbl during H1 2020. Luckily this year prices are recovering to $60-65. Realised price for Echo will be lower, let's say around $52 per barrel. That would give revenue for H1 2021 little changed from H1 2020. About US$2.1 million. The rise in oil price will be swallowed by the drop in production. Be careful.

[terminator101] 20/4/2021 07:16

Not with declining production figures. Less oil = less money in the bank = even bigger losses than they currently have.

[oilbuy] 19/4/2021 22:52

Brent $67 and heading to $100ECHO only going one way and thats north.

[terminator101] 19/4/2021 18:36

Get over yourself mate. I'll comment where I see fit, especially when the ramping crew are trying to suck in the gullible.

[investor_2] 19/4/2021 17:47

I think you should use your so called intelligence to do something constructive with your life. What a sad life you must live coming on boards trying to trash shares you don't hold, unbelievable! Feel sorry for you mate, anyhow i have no intention on having this back and forth with a keyboard warrior. Head up son, you'll get there!

[terminator101] 19/4/2021 16:03

I think you need to read the RNS or do you not have the intelligence to understand it.

[investor_2] 19/4/2021 15:37

Bore off fella! I'm sure you have something better to do with your life you sad man.

[terminator101] 19/4/2021 14:48

Declining production Shedload of warrants at 0.3p LO with a massive shortConsistently loss making. Those are the numbers!

[oilbuy] 19/4/2021 12:52

The numbers are .3p to 1.15p bidThey are the numbers !

[helpfull] 19/4/2021 12:45

It's all in the numbers. "1 January 2021 to 31 March 2021 reached an aggregate of 152,673 boe net to Echo, which included 17,814 bbls of oil and condensate and 809 mmscf of gas". 17,814 bbls of oil produced in 90 days. Average daily production in March 2021 of 230 bbls per day. Therefore 7130 bbls produced in March. 230 bbls per day was an increase of 124% on February daily production. Therefore 186 bbls per day in February or 5208 bbls in February. 17,814-7130-5208 = 5476 bbls produced in January 2021 or 177 bbls per day. That a low figure! Fell from 210 bbls per day in Nov/Dec mentioned in 8th December 2020 update. That's after : "three additional Springhill fields and 1 Tobifera field have now been brought back online in the Chorrillos and Palermo Aike licences increasing gross oil production by around 50 bopd" . So much for work overs. Expectations are far higher than results achieved. The increase in Nov/Dec was due to 4 wells brought back online. March 2021 increase was due to: "a series of optimisation activities being implemented in the field". The same increase appears to be regurgitated for different reasons. With no overall change. Something not quite right my spidey senses tell me. A tingling. Be careful.

[knackers] 19/4/2021 11:27

Oilbuy - exactly. Hardly needs saying except to those that find the facts of the situation perplexing. This isn’t fanciful it’s v real and is the culmination of a tremendous effort by the company’s Exec team. No longer a restructuring/ rebalancing story, it’s all about growth now. Profitable growth. Martin Hull CEO Echo Energy, “These upgrades not only unlock previously shut-in liquids production but will also provide additional capacity with which to open up future incremental enhancement projects that have already been identified." Confident, no nonsense getting on with it etc a total sea change and exciting times ahead.

[oilbuy] 19/4/2021 10:17

You keep referencing the past lolThis is all about the futureMy .3p average born from the past

[coldspring] 19/4/2021 09:30

Not to mention the price of oil is at least 10 dollars per barrel higher and the share price is still in the toilet compared to where it was pre COVID lockdown.