Echo Energy Share Discussion Threads

[helpfull] 13/10/2022 12:12

Lombard Odier probably licking their lips and selling the hundreds of millions new shares they received a few weeks ago at 0.25p. They probably love today's mug punter

Be careful.

[gregpeck7] 13/10/2022 12:11

Still load of debt and they totally miss the gas cycle.

[johnymakesit] 13/10/2022 12:01

shares being issued at 76.4% premiun?

at 76.4 per cent. premium to the closing mid-market price per Ordinary Share on 12 October 2022:



Yesterday's mid-price is 25.5p

[firestorm911] 13/10/2022 11:58

Interest on remaining Notes reduced to 2% per annum on any interest accruing from 30 September 2022;

-- Note maturity will be extended to 15 May 2032; and
-- EUR5.0 million 8.0% secured convertible debt facility and remaining accrued interest will be converted in full into new Ordinary Shares at a price of 0.45 pence per Ordinary Share on the terms announced by the Company on 12 August 2022.

[helpfull] 13/10/2022 11:57

The people selling are the same people who bought 20 minutes ago. The mug punter will be left holding.

Be careful.

[gregpeck7] 13/10/2022 11:57

How is this good news?

[ridingthewaves1] 13/10/2022 11:56

Under the radar Still

[ridingthewaves1] 13/10/2022 11:52

Unbelievable selling who are these people

[firestorm911] 13/10/2022 11:45

76.4 premium from 25.5p is circa 0.45p

50% of the outstanding principal amount of the Notes (an amount of EUR10.0 million), together with accrued interest thereon, will be converted into new Ordinary Shares at a price of 0.45 pence per Ordinary Share;

[ridingthewaves1] 13/10/2022 11:44

It's going to get hot in here

[ridingthewaves1] 13/10/2022 11:44

Get the crew f111

[firestorm911] 13/10/2022 11:44

Then rest at 0.45p

[firestorm911] 13/10/2022 11:43

EUR15.0 million of existing debt principal, together with accrued interest thereon, will be converted into new ordinary shares in the Company ("Ordinary Shares") at a 76.4 per cent. premium to the closing mid-market price per Ordinary Share on 12 October 2022:

[firestorm911] 13/10/2022 11:43

yeah at 0.45p

[helpfull] 13/10/2022 11:42

Soon to be 5,000,000,000+ shares in issue. Good luck trying to sell these puppies. The bond debt is rapidly being overtaken by the $19,511,235 trade and payable debt. Leave it to the mug punter.

Be careful.

[firestorm911] 13/10/2022 11:41

Notes, with 66.67 per cent. of votes cast in favour..

The Proposals remain conditional upon the approval by the Company's shareholders at a General Meeting to be held at 2:00 p.m. on 24 October 2022 at the offices of Fieldfisher LLP, 2 Swan Lane, London, EC4R 3TT (the "GM") and should approval be given, EUR15.0 million of existing debt principal, together with accrued interest thereon, will be converted into new ordinary shares in the Company ("Ordinary Shares") at a 76.4 per cent. premium to the closing mid-market price per Ordinary Share on 12 October 2022:

-- 50% of the outstanding principal amount of the Notes (an amount of EUR10.0 million), together with accrued interest thereon, will be converted into new Ordinary Shares at a price of 0.45 pence per Ordinary Share;

[firestorm911] 13/10/2022 11:35

The loan note will convert at 0.45p.

[helpfull] 12/10/2022 08:57

Trying to compare like for like.

"further to the announcement dated 26 August 2021, a further three wells from the Campo Molino oilfield have been brought online. All the recently reactivated wells are producing in-line with expectations. Maximum daily reported production achieved after these wells have been online has been around 350 bopd (net to Echo)"

and

"The ability of the various measures already undertaken to improve infrastructure is evident in increased production capacity. In the twelve-day period following completion of the works described above, net gas production averaged 7.9 MMscf/d and net liquids production averaged 320 bopd"

The former from a RNS from a year ago and the latter from a RNS yesterday. So much for promises.

"During Q4 2021, net liquids production averaged 240 bopd whilst net gas production averaged 7.0 MMscf/d"

And

"Production for the first eight days of 2022 has been strong, with liquids production net to Echo averaging 262 bopd and net gas production averaging 8.3 MMscf/d"

Gas production,as well as oil, is little changed after all these upgrades and is still in decline. Shareholders might want to be very cautious. There is no real improvement in production. And that "trade payable" debt last seen at $19,511,235 and rising, is a major problem.

Be careful.

[gary38] 11/10/2022 08:10

Great news from Echoenergy,well done to all the team,2022/23 will be a very productive years to the plan of increasing production by 40% .---------------------------https://uk.advfn.com/stock-market/london/echo-energy-ECHO/share-news/Echo-Energy-PLC-Q3-2022-Production-and-Operational/89260634?xref=newsalert

[terminator101] 11/10/2022 07:38

Please explain why with this pile of Parsons lifestyle loss making pish sitting at all time lows, and ever more confetti being issued, exactly how the “shorters are getting burned”