Echo Energy Share Discussion Threads

[helpfull] 08/9/2021 08:44

Interesting September. Half year report by end of month when figures are released. What is going to happen to the share price? If a cash raise occurs during September the share price will most likely decline and any loan or bond holder who decides to convert loan interest for shares will get more shares for his money. In such a scenario current shareholders would be the losers. Management wouldn't do that would they? That £1,000,000 loan is due in March 2022. Instalments of £100,000 and £50,000 have already been paid. And another £50,000 be end of September. December is another £50,000 and then £1,000,000 by end of March 2022. Cash is at a premium. What will be the cash position in the interim report? Be careful.

[terminator101] 08/9/2021 08:03

Dilution ahoy

[terminator101] 07/9/2021 13:41

Just don't mention the sells huh. The only thing coming here for sure after the disappointment that they didnt progress the work overs as much as ramped is even more dilution.

[yus777] 07/9/2021 10:59

4million buy and 1.57million buy going to rocket strong buy

[helpfull] 03/9/2021 07:40

Wow! That interview should worry investors. Cash generation is not good enough to service debt interest. No "cash" debt interest payments. The CEO didn't bother to mention the upcoming "share" debt interest payments. He's not worried about share dilution and the effect on the share price. Never mentioned the three cash raises last year though Echo was "cash" generative. With all the difficulties bringing recently shut in wells back online how is the company going to cope with Monte Aymond. Drilled in 1984. Deteriorated since. A new well required? Can Echo afford that? Shareholders need to wait for 2021 half year results at the end of September when numbers have to be revealed. Might explain why the CEO wants shareholder permission to allot more shares for a cash raise and the current cash position and the repayment of the £1,000,000 loan next March. Be careful.

[peterdonovan] 02/9/2021 12:45

New interviewhttps://youtu.be/5PH1jzOFGEE

[rangenoresources] 31/8/2021 07:25

Looks like Fake Arnie is having a well earned rest. His paymaster made him work all bank holiday weekend on minimum wage with very few breaks. Poor kid is exhausted but at least he knows he is one of his paymasters favourites even if his family didn?t get to see him this weekend.

[napoleon 14th] 28/8/2021 17:27

That RNS of 26th makes a good read.
"As of 23 August 2021, the recently reactivated wells have contributed to an almost 50% increase in total liquids production at Santa Cruz Sur compared to the period immediately prior to this"

Just stick to your knitting...

[paradores] 26/8/2021 13:40

But production is now heading back to 2k+ Boepd

Let see what next quarter gives us, we know shut-in and necessary infrastructure work has effected production this year.

No reason we will not also see steady increase in 1P reserves this year and into next.

[helpfull] 26/8/2021 13:38

Mug,muggings and mugged!

"the recently reactivated wells have contributed to an almost 50% increase in total liquids production at Santa Cruz Sur"

Nice headline. But what does it mean?

From 1 Jan 2021 to 14 Jun 2021 Echo produced 33,910 bbls of oil and condensate. A period of 165 days. So, 206 bbls of oil and condensate per day.

From 1 Jan 2021 to 23 Aug 2021 Echo produced 48,211 bbls of oil and condensate. A period of 235 days. So, 205 bbls of oil and condensate per day.

In the period 14 Jun 2021 to 23 Aug 2021 Echo produced 14,301 bbls of oil and condensate. A period of 70 days. So, 204 bbls of oil and condensate per day.

What about the 50% increase? The reality appears to be the 4 wells brought back into production barely cover the fall in overall oil and condensate production. What's going on here? Be careful.

[terminator101] 26/8/2021 08:59

You dont want to bore people with all that research stuff.

[alancapone] 26/8/2021 08:43

Rome wasn't built in a day T. There's many a 'producer' producing nothing. ECHO are well ahead of the game IMHO.

[rangenoresources] 26/8/2021 08:43

Excellent RNS and start to the day. Terminator101 aka Fake Arnie calls it wrong again

[helpfull] 26/8/2021 08:40

What the RNS should have said!

In the 235 days to the 23 Aug 2021, 381,243 boe were produced equivalent to 1622 boepd.
In the 235 days to the 23 Aug 2021, 48,211 bbls of oil and condensate were produced equivalent to 205 bopd.
In the 235 days to the 23 Aug 2021 1,998 mmscf of gas were produced equivalent to 8.5 mmscf per day.

Compare these figures to the figures contained in the RNS dated 21 June 2021.

In the 165 days to 14 Jun 2021, 278,600 boe were produced equivalent to 1688 boepd.
In the 165 days to 14 Jun 2021, 33,910 bbls of oil and condensate were produced equivalent to 206 bopd.
In the 165 days to 14 Jun 2021, 1470 mmscf of gas were produced equivalent to 8.9 mmscf per dzy.

The figures don't lie. However it is presented production is down. And falling quickly. In the 70 days between the two updates 102,643 boe were produced equivalent to 1466 boepd. And in the same period 528 mmscf of gas were produced equivalent to 7.54 mmscf of gas per day. Truly frigtening. Be careful.

[helpfull] 26/8/2021 07:59

Nothing changes. Same style RNS. If you are lazy and accept the headline "50%" number you might regret your naivety. Check the figures. They are the reason for the fall in the share price. Nothing else. Check the figures. Be careful.

[terminator101] 26/8/2021 07:37

96 bopd net to echo. LOL. That;s really been worth waiting for huh

[alancapone] 26/8/2021 07:19

Echo Energy PLC Operational Update
26/08/2021 7:00am
UK Regulatory (RNS & others)

Thursday 26 August 2021

RNS Number : 8161J

Echo Energy PLC

26 August 2021

26 August 2021

Echo Energy plc

("Echo" or the "Company")

Operational Update

Liquid production increases

Echo Energy, the Latin American focused upstream oil and gas company, is pleased to provide an operational update regarding its Santa Cruz Sur assets, onshore Argentina, for Q3 2021 until 23 August 2021.

Operational Update

The Company is pleased to confirm that following installation of the pipeline required to bring back online the liquids production which was shut in April 2020, the infrastructure has now been successfully commissioned for operation and shut-in wells are being brought online. This follows an upgrade of the electrical infrastructure, which was designed to support the first tranche of production from the Campo Molino and Chorillos oil fields to provide sufficient power to support sustained production from the associated ten wells. These upgrades are also part of the Company's strategy to control critical infrastructure previously rented from contractors.

To date, the Campo Molino oil field has been brought back online with four of the shut-in wells now back in operation and producing from the Springhill reservoir. This first tranche of restored production will increase the number of active producing oil wells at Santa Cruz Sur to 18.

As of 23 August 2021, the recently reactivated wells have contributed to an almost 50% increase in total liquids production at Santa Cruz Sur compared to the period immediately prior to this (281 bopd gross, 197 bopd net to Echo - during the period 1 -17 August 2021). This represents an increase of 137 bopd gross, 95 bopd net to Echo and work continues to bring the remainder of the first tranche of shut-in production back online. The production levels from the initial reactivated wells indicate that the shut-in period has not had a detrimental impact on reservoir behaviour in the Campo Molino oil field. Prior to shut-in, the combined gross production from the ten oil wells was approximately 138 bopd gross, 96 bopd net to Echo, approximately the same level now being achieved from the initial four wells, with the associated upgraded infrastructure.

Daily operations across the asset base in Santa Cruz Sur continue with the delivery of produced gas to industrial customers under contract with premium winter pricing being achieved. Production over the period from 1 January 2021 to 23 August 2021 reached an aggregate of 381,243 boe net to Echo, which included 48,211 bbls of oil and condensate and 1,998 mmscf of gas.

Martin Hull, Chief Executive Officer of Echo Energy, commented:

"During Q3 2021 we have continued to make significant operational progress and deliver against our objectives. Successfully increasing our liquids production is an important milestone. There remain further production upsides as we continue through the programme of reopening previously shut-in wells. Increased production combined with the continuing marked upswing in global commodity prices materially increases our cashflows enabling reinvestment to further drive growth. The ongoing production increases have been achieved while maintaining our careful cost management in order to maximise value for shareholders."

[stevomeister] 24/8/2021 17:33

I represent a group of concerned private investors in Echo Energy.

I will get straight to the point regarding our concerns about the direction of the company.

1) Most, if not all of, have little confidence in Martin’s record in running Echo Energy to the standard we expect from a CEO, especially one on his current renumeration which we find hard to justify based on his record to date. We wonder if due diligence was done in his appointment and if the job was offered to outsiders, or if the BOD simply chose their colleague. Not every CFO can be a CEO, and we have seen Martin make 2 or 3 interviews in the last year which is wholly unacceptable for a company in Echo’s position with his peers making double figure appearances in the same time frame. One example which Martin would fare unfavourably with, is the very competent and PR-savvy head fo Zephyr energy who has presided over a 10-fold increase in his company’s share price over the last half of year. If Martin is not confident in appearing in public, nor confident in his knowledge of the company he heads (there have been a few examples we can give) to stand up to public forum, it may be an idea he reverts back to his original role as CFO and let someone more competent in these fields to take over as CEO- which should be selected from an open market rather than an ‘inside job’. His PR absence is certainly not due to the lack of time which brings us to our second point.

2) We are concerned about the sheer amount of time he is currently spending on private conversations with various private investors which is fuelling an unprecedented rumour mill with seemingly pieces of information being drip fed causing a significant amount of confusion. Furthermore, we wonder if these are pushing the rules regarding disclosure of price-sensitive information, and what effect this would have on the share price should they be investigated by the FCA.. Even in the small cap market, this is highly irregular for a CEO to spend his time. We feel that this paints a picture of someone going to extraordinary lengths to avoid scrutiny which raises numerous red flags- cold water was poured on the recent suggestion for a ZOOM call for example.

3) We know you aware that others have raised the election of a non-executive to represent, us, the private investors to break the current shadowy cloak that covers Echo- with little public engagement, seemingly deliberately opaque news releases, and a CEO who spends an inordinate amount of time chatting to private investors in individual calls. We hope that you will choose to engage with us and have our concerns officially recognised via resolutions in the upcoming general meeting rather than things having to be escalated which would negatively affect our holdings.

Regards

Echo Investors Group

[stevomeister] 24/8/2021 17:27

Anyone who is interested. I formed the [e-mail]

Email with your stockholding, we need to get to 65 million to reach the 5% needed for GM of our own.

I will post the same thing as I did on LSE. If you think this email is too harsh- remember- Martin has watched your holdings go down and has not even bothered to sell the company via PR to help you. He has watched your house burn down in front of his very eyes while holding a waterhose.

btw. If you want to contact directly- his email is [e-mail] and copy in [e-mail]

Get involved!

[rangenoresources] 23/8/2021 15:11

Thanks for making my point creepy deramping scamming fake Arnie stalker

[terminator101] 23/8/2021 11:48

Thanks for making my point creepy stalker

[rangenoresources] 23/8/2021 10:43

With 100% of your posts for months being about me, good luck explaining that you are not some kind of creepy stalking psychopath Terminator101 aka Fake Arnie Does your mum know that you are up this early and post 7 days a week 16hrs a day on over 60 shares :-)