Echo Energy Share Discussion Threads

[soulsauce] 23/4/2018 07:41

Indeed steelwatch that's certainly a surprising result. Wonder how many older wells they think they could get oil from?

[steelwatch] 23/4/2018 07:15

Well, Well! Oil this time eh? What's not to like? 😎😎

[soulsauce] 20/4/2018 14:51

Wonder if we may have some more news early next week, the last workover didn't take long?

[steelwatch] 18/4/2018 12:28

😀 three men in the boat 😁

[giantpeach2] 18/4/2018 12:11

Wow that puts some meat on the bone!! good job.

[soulsauce] 18/4/2018 11:11

On advfn certainly steelwatch but the lse board is much busier and a lot of favourable comment over there.

I just think it is not a rampy stock that the sheep fall in to. This one has actual assets and is making money whereas the sheep would much rather follow some BS jam tomorrow or never ramptastic CEO. Go figure lol.

[steelwatch] 18/4/2018 10:57

Soul - is it just thee and me getting the message here?🙂ԅ26;

[soulsauce] 18/4/2018 07:26

Not too shabby 😊

dgarvey yes I keep the faith 😉

[steelwatch] 18/4/2018 07:08

This will wake up some interest for sure!!!

18 April 2018
Echo Energy plc
("Echo" or the "Company")

First Oil Export Cargo and Gas Sales Update


Echo Energy plc, the Latin American focused upstream oil and gas company, is pleased to announce that its first export cargo of oil was loaded from the Punta Loyola terminal, Rio Gallegos, on to the New Conquest tanker over the weekend of 14 April 2018.

Echo's share of the cargo from Q1 oil production from Fracción C and Fracción D was approximately 25,000 barrels and the cargo was sold to Vitol. The final realised sale price is based upon the average Brent price for the 5 days following loading and will be at a discount of approximately US$6 per barrel to the average Brent price during that period which is currently sitting at over US$ 71.5 per barrel.

Additionally, during Q1 all sales gas produced in the period (245.1 million standard cubic feet net to Echo) has been sold into the Argentinian market at an average realised price of US$4.21 per mmbtu (pricing ranging from US$3.04 to US$5.53 per mmbtu during the period). An additional 81.5 million standard cubic feet produced at the wellhead has been utilised in field for fuel and power.

Total sales receipts net to Echo before royalty, tax and operating expenses for Q1 2018 are therefore anticipated to be approximately US$2.7 million.

Fiona MacAulay, Chief Executive Officer of Echo, commented:

'Loading our first cargo was a significant step for Echo, particularly with Brent currently trading at a sustained US$70 / barrel for the first extended period during 2018. We are also delighted that gas sales have remained strong and our realised blended price for those has been in excess of US$4.20 per mmbtu throughout the summer season in Argentina. Receipt of maiden LATAM revenues in Q1 marks an important milestone in the Company's mission to become an exploration-led gas-focused mid-cap E&P, delivering value for shareholders.'

[steelwatch] 16/4/2018 17:01

www.proactiveinvestors.co.uk/companies/news/195032/echo-energy-pushing-ahead-with-programmes-in-argentina-195032.html

[dgarvey] 16/4/2018 08:03

Soulsource 60m debt and they have just signed a $500m revolving facility at 4.5% fo r acquisitions which is very telling. ps from your day, I assume you Keep the Faith.

[soulsauce] 15/4/2018 15:55

Brilliant news.

[steelwatch] 15/4/2018 15:49

#MOVINGFORWARDFAST - I like it 🤗

[soulsauce] 14/4/2018 09:03

dgarvey how much debt do DGOC have and what reserves do they have?

[dgarvey] 14/4/2018 08:59

Steelwatch - DGOC now has production or 28,000 boed yet it's MC is only 121m so either Echo is doo dear, DGOC too cheap or 28k boed is only worth 60m.Valuation , especially on AIM s purely perception and is rarely based on reality.

[svsvsvsv] 13/4/2018 10:03

Many thanks.

[steelwatch] 13/4/2018 09:56

sv - tidy is implying the market capitalisation here is too high. Others may disagree!

[svsvsvsv] 13/4/2018 09:44

Tidy can you explain for the newbie to the game... £72m cap?

[tidy 2] 13/4/2018 09:20

£72m cap right now. Seventy two million pounds.

[steelwatch] 13/4/2018 09:11

Well CSo-85 perforated across Springhill Formation and successfully flowed. Full testing to follow. See RNS here:
See flare video here:
#Fastflowingfraccion

[svsvsvsv] 13/4/2018 08:19

Flare video on Twitter.

[soulsauce] 13/4/2018 08:10

Market likes it :-)

[crystball] 13/4/2018 07:54

Good news!

[soulsauce] 13/4/2018 07:13

Positive start and very quickly done. Now to put on test.