Echo Energy Share Discussion Threads

[cfccfc1970] 19/12/2019 07:22

Encouraging RNS from the Company, particularly like the bit about "encouraging initial data" from the well that is due to be tested, so maybe just maybe......

The current well due to spud w/e 29/12 also has a high Probability of success.

[paradores] 18/12/2019 11:28

RIDICULOUS price action IMMHO!

[l30nski] 18/12/2019 08:17

Placing at Sound appears to be the cause of the current dip here if you ask me, death by association.

[knackers] 12/12/2019 10:27

If Fiona were at the helm I think the tone of the RNS would’ve been very different, and not in a good way. I much prefer this caution. Bottom line, there is gas to test!

Bodes well for the rest of the block.

[red rook] 12/12/2019 09:49

...if your 'crystall' hasn't told you ... then the market has !

[ride daice] 12/12/2019 09:42

Life in general or the RNS ?

[crystball] 12/12/2019 08:15

What does it all mean!

[avsome1968] 12/12/2019 08:03

TIDMECHO
RNS Number : 5934W
Echo Energy PLC
12 December 2019
12 December 2019
Echo Energy plc
("Echo" or "the Company")
CLM x-1 Drilling Completion
Echo Energy, the Latin American-focused upstream oil and gas company, is pleased to announce that the Campo La Mata Exploration well ("CLMx-1") in the Tapi Aike licence has been drilled to a total measured depth of 2,513 metres in the Palermo Aike Formation and that wireline logging has now been completed.
On the basis of the encouraging initial data from drilling and logging operations described below, a positive decision has now been made with the Operator, Compan i a General de Combustibles S.A. ("CGC"), to move to the next stage of operations to complete and test the well.
The upper secondary target ("Mag 60" or "Lobe G") was encountered at 1,977 metres. Within this package two fine-grained sandstones have been identified that coincide with elevated gas shows of 109,900 parts per million ("ppm") and 149,500 ppm against a background of 16,500 ppm.
The primary target ("Mag 20" or "Lobe C") was encountered at 2,181 metres and coincided with elevated gas shows of 72,900 ppm and 80,300 ppm in the uppermost 15 metres within a fine-grained sandstone. Two cores, of 19 metres each, were taken over the primary target between 2,185 metres and 2,223 metres with 100 per cent recovery. Further analyses will be undertaken on the cores, but the lower of the cores showed a well-developed fine-grained sand in the bottom 10 metres.
The lower secondary target ("D3" or "Anita") was penetrated at a measured depth of 2,265 metres. Within this target, a 20 metre section of several fine-grained calcareous sandstones has been identified between 2,391 and 2,411 metres. This unit also demonstrated elevated gas shows whilst drilling with an increase of up to 1,000,000 ppm in the mud log. This reading indicates that the measurement system had become saturated as a result of the inflow of gas.
The initial analyses of the wireline log data have been completed, indicating six zones of potential interest. In the Mag 60 these intervals are at 2,006 to 2,009 metres, 2,077 to 2,082 metres and 2,106 to 2,108 metres. In Mag 20, the primary target, zones of interest are 2,183 to 2,211 metres and 2,214 to 2,225 metres. In the lower secondary target, Anita, the interval of interest is at 2,395 to 2,403 metres. These intervals have been identified from the wireline logs (spontaneous potential, photoelectric factor, resistivity, density and neutron) together with mud log information. The Anita sandstones were found to be over pressured by approximately 30%.
While the presence of gas shows in the target sections, combined with the data retrieved during logging, have resulted in the Company and Operator taking the decision to move to completion and testing, gas shows can be a result of various processes. The Company cautions that completion of the well test and the analysis of the test results will be needed to conclusively establish the presence of producible gas.
The well will be completed by the Petreven H-205 rig with a 5 1/2 inch casing. Perforation and initial inflow testing will then be undertaken by the Quintana-1 rig, which is expected to mobilise to location shortly. Rigless hydraulic stimulation will also be conducted on the well after the inflow tests have been completed and further announcements will be made, as appropriate, in due course.
The Petreven H-205 rig will now mobilise to the Company's Campo Limite well in the Palermo Aike concession of the Santa Cruz Sur asset. This well remains on course to spud before the end of December
For further information, please contact:

[red rook] 12/12/2019 07:27

.... 'gas shows' !

''While the presence of gas shows in the target sections, combined with the data retrieved during logging, have resulted in the Company and Operator taking the decision to move to completion and testing, gas shows can be a result of various processes.''

''The Company cautions that completion of the well test and the analysis of the test results will be needed to conclusively establish the presence of producible gas.''


... they should have drilled on the western side, as close as possible to the previous (historical) drill sites.... there they had 'gas to surface' sufficient to cause blowouts!
... another poor show!

[rwells4474] 12/12/2019 07:20

RNS we have gas

[knackers] 11/12/2019 09:04

Each TA drill is targeting a different play so a sensible way to diversify risk. Yes there is evidence of gas at multiple locations across the block but there would appear to be a clear high ampl feature in the east which was on the 2D (and now 3D) which has their attention and drilling the middle of that fan seems perfectly reasonable- though it may indeed be a slightly lower CoS to the western targets given past drill results. I think there’s no shortage of targets and opportunities across TA. Bit of patience needed perhaps, but a combination of factors makes this a highly prospective and high impact asset for Echo even with the lower % interest.

[avsome1968] 11/12/2019 08:27

Cant be too far away now, results back end of next week or week on Monday, lets hope we have positive results.

[red rook] 08/12/2019 22:06

... looking at ECHO again... but would appreciate one of the LTHs providing an answer to a query!

... I was surprised to see that their first drill was not on the western side ... targeting the Cancha Carrera (1.8 Tcf Pmean), where there has been 3 previous (historical) drills - all gas indication wells.
.... In one of the past presentations given by Echo, it was said that one of those wells, drilled in the early 70's by YPF, found 120 meters of net gas pay. The other two wells drilled in the same area apparently had blow-outs due to high gas pressures encountered .....

... All great stuff ... So why not do an simple offset of one of those wells ?
... Would that not have been a safer play ... Echo cannot afford another failed drill!

[knackers] 05/12/2019 09:57

If they can boost earnings from their new producing assets it ‘Sur’ will be ‘Santa’ Cruz ;)

Would be nice to finally see the back of this seller.

[avsome1968] 02/12/2019 21:15

Very good news indeed, exciting couple months ahead, Campo results in 3 weeks,

[paradores] 02/12/2019 13:35

Busy next few weeks at Echo!! Appreciate the TWTT session. Nice. Christmas Cracker? Espero que si...

[knackers] 02/12/2019 08:55

Well played team ECHO. Top marks Martin, very astute.

Still flying under the radar, but for how long I wonder ;)

[paradores] 26/11/2019 08:57

Exactamente eso, Steelwatch!

Plenty going on under the hood. Loco valuation. Market will catch-up eventually.

Also expecting a farm-in and free carry deal in Bolivia early next year. Vamos a ver!

[steelwatch] 25/11/2019 18:18

ECHO is also expecting the Santa Cruz Sur seller to commence drilling the Campo Limite exploration well before the end of this quarter.

[steelwatch] 25/11/2019 17:57

Q&A

The next Time With the Team will be held at 12:00 on Monday 2nd December 2019

[paradores] 25/11/2019 16:07

Our partner is now drilling in TA, that’s all that matters! :)

[avsome1968] 25/11/2019 15:50

correct need my glasses lot going on in another share at the moment slightly stressed

[joelebeau] 25/11/2019 15:30

They were delayed / cancelled trades

[avsome1968] 25/11/2019 14:12

Two 500k gone through seller still here