Echo Energy Share Discussion Threads

[paradores] 19/2/2020 07:26

As expected, and discounted in the SP, not quite enough in the logs and vertical seams where there were HC shows for that first drill to be commercial.

Increasingly their new production assets looks a smart move. They now need to get into western TA where the more interesting plays would seem to lie.

Still a super low valuation with the assets they have.

[ride daice] 05/2/2020 13:37

MCAP of 10M looks a bargain IMHO for 2500 boepd of production + significant exploration upside ?

[avsome1968] 05/2/2020 08:21

Well the market likes it up she goes wish I topped up yesterday my average 2.6 not too bad bit to go though to break even

[crystball] 05/2/2020 08:09

Keeping us in suspense!

[sporazene2] 05/2/2020 08:04

yes, i am surprised that we have not heard yet from Tape Aike, even a non commercial outcome from the first simulation would be material enough to warrant an announcement IMO, so I can only conclude from this (if my assumption is correct) that the first test is still ongoing

[avsome1968] 05/2/2020 07:55

Good news at last just need positive updates on campo and mata now.

[avsome1968] 05/2/2020 07:53

05/02/2020 7:00am
UK Regulatory (RNS & others)

Echo Energy (LSE:ECHO)
Intraday Stock Chart
Today : Wednesday 5 February 2020

TIDMECHO
RNS Number : 9791B
Echo Energy PLC
05 February 2020
5 February 2020
Echo Energy plc
("Echo" or "the Company")
Argentina: Production Update
Echo Energy, the Latin American focused upstream oil and gas company, provides an update on production from the Company's recently acquired 70% non-operated working interest in the Santa Cruz Sur assets, onshore Argentina.
Average net daily production (net to Echo's 70% interest) from Santa Cruz Sur for the period from 1 November 2019, the effective date of the acquisition, to 31 January 2020 was 2,481 boepd (including 560 bbls of oil and condensate per day, and 11.5 mmscf of gas per day). Total production from Santa Cruz Sur in the period from 1 November 2019 to 31 January 2020 net to Echo was 228,249 boe (including 51,561 bbls of oil and condensate and 1,060 mmscf of gas). During the period an aggregate of 165 net mmscf of gas produced at the wellhead was utilised in the field for fuel and power.
Between 1 November 2019 and 31 January 2020 there were a total of four cargo liftings of oil and condensate, of an aggregate of 27,082 bbls net to Echo, with an average sales price (including where applicable VAT recovery) of US$ 52.1 per barrel of oil equivalent. In addition, a fifth cargo of oil and condensate, in excess of 15,000 bbls of oil equivalent net to Echo is currently in the process of being loaded at port and is expected to be completed in the coming days.
Delivery of produced gas to customers has continued without interruption, at an average realised price, reflective of the current season (including where applicable VAT recovery), of US$ 2.21 per mmbtu (prices ranging from US$ 1.6 to US$ 4.5 per mmbtu during the period). As is typical of the Argentina gas market current summer gas prices are at a discount to annual averages. The Company expects to achieve higher realised prices in winter months.
The Company looks forward to updating shareholders on testing operations at the Campo Limite (CLix-1001) well at Santa Cruz Sur, which are expected to commence in the second half of February 2020, and on the results of the Campo La Mata x-1 well (CLM x-1) at Tapi Aike in due course.

[peterdonovan] 04/2/2020 08:34

Wtf down again

[avsome1968] 30/1/2020 07:51

TIDMECHO
RNS Number : 3535B
Echo Energy PLC
30 January 2020
30 January 2020
Echo Energy plc
("Echo" or "the Company")
Santa Cruz Sur: CLix-1001 Update
Echo Energy, the Latin American focused upstream oil and gas company, provides a further update on the Campo Limite exploration well (CLix-1001) drilled in the in the Palermo Aike concession of the Company's Santa Cruz Sur ("SCS") assets.
The Company is pleased to announce that CLix-1001 has now been confirmed to have identified the top of its primary target, the Springhill Formation, some 28 metres above pre-drill prognoses and 58 metres above the interpreted regional water contact zone within the area.
The fact that the Springhill Formation, across a 19 metre gross interval between 2,124 metres and 2,143 metres, is shallower than pre-drill prognoses had estimated, is potentially indicative of increased reservoir volumes situated above the water contact across the Campo Limite area, but confirmation of this will be the subject of future technical work.
In addition, the Company confirms that, following completion of drilling activity on CLix-1001 and the previously announced decision to move to completion and testing of the well, the programme for the completion and conventional inflow testing of CLix-1001 has now been agreed and testing operations are expected to commence in the second half of February 2020.
The Eagle workover rig, owned by Echo and its partners in the SCS assets, will be mobilised to undertake the testing operations. The completion and testing programme now defined is designed to seek to determine the productivity of the Springhill reservoir at the CLix-1001 well location and to identify which intervals are net pay.
The Company cautions that completion of the well test and analyses of the results is needed to conclusively establish both the presence of producible gas at CLix-1001 and the potential for the CLix-1001 well to de-risk further appraisal and development targets in the Campo Limite area. The presence of additional gas resources, if confirmed, would provide enhanced commercial development scenarios for existing discovered volumes at Palermo Aike.

[sporazene2] 27/1/2020 07:40

i was expecting news this morning from the deeper zone. the guidance was two weeks and it is now three. lets hope they have something to test..volume has been pretty light up until this point so hard to draw any conclusions.

[giantpeach2] 24/1/2020 12:28

just added another 200k showing as a sell!!

[avsome1968] 20/1/2020 17:32

Totally agree Para going to be a exciting month ahead.

[paradores] 20/1/2020 09:01

Agree. It’ll take time to counter balance and restore faith from the xs spin of the previous team under Princess Fi.

Martin by contrast has been nothing if not un-showy, solid and consistent - to date.

They appear to be in an area of interest here. If not spectacular, could still be quite a year for ECHO...

[crystball] 20/1/2020 08:35

Not many trust Echo any more. Todays announcement could have been worse!

[paradores] 20/1/2020 08:22

Fits the pattern of recent releases: zero hype. Good.

Target zone: elevated gas shows in sands... encouraging to say the least.

[avsome1968] 20/1/2020 07:30

Very encouraging

[rwells4474] 20/1/2020 07:04

TIDMECHORNS Number : 2419AEcho Energy PLC20 January 202020 January 2020Echo Energy plc("Echo" or "the Company")Santa Cruz Sur Operational UpdateEcho Energy, the Latin American focused upstream oil and gas company, is pleased to announce that the Campo Limite exploration well (CLix-1001) in the Palermo Aike concession of Santa Cruz Sur has been drilled to a total measured depth ("MD") of 2,247 metres and wireline logging has now been completed.On the basis of encouraging initial data from drilling and logging operations, a decision has been made with the Operator, Selva Maria Oil and Gas S.A.*(1) to move to the next stage of operations to complete and test the well.The target Springhill Formation was encountered at 2,124 metres. Initial analyses of the wireline log data have been completed and have highlighted a zone of interest comprised of fine grained sandstones. This unit also coincided with elevated gas shows of 193,000 parts per million ("ppm") against a background of 20,000 ppm.The presence of elevated gas shows in the target section combined with wireline log data is positive and has resulted in the Company and the Operator taking the decision to move to completion and testing. The Company cautions that completion of the well test and analyses of the results is needed to conclusively establish the presence of producible gas.The well will be completed by the Petreven H-205 rig followed by conventional inflow testing with a workover rig. Mobilisation is currently being scheduled and further announcements will be made, as appropriate, in due course.

[avsome1968] 17/1/2020 07:56

Hopefully news next week guys.

[rwells4474] 06/1/2020 07:06

TIDMECHORNS Number : 7669YEcho Energy PLC06 January 20206 January 2020Echo Energy plc("Echo" or "the Company")Drilling and Operational UpdateEcho Energy, the Latin American-focused upstream oil and gas company, is pleased to announce both the perforation and initiation of stimulation operations at Tapi Aike and drilling at the Campo Limite exploration well.Following the completion of drilling operations at the Company's Campo La Mata x-1 well ("CLM x-1") at Tapi Aike, the deeper secondary target in the Anita Formation ("D3") has recently been perforated and a mechanical stimulation will be commencing shortly. This is expected to complete within the next two weeks. Once completed, attention will then focus on the shallower primary target ("Magallanes 20" or "Lobe C"), with a perforation followed by a mechanical stimulation. This is expected to take a further two weeks.Separately, following the previously announced mobilisation of the Petreven H-205 rig to the Palermo Aike production concession in the Santa Cruz Sur assets, the Company is pleased to confirm it has now spudded the Campo Limite exploration well ("CLix-1001"). The well is expected to reach total measured depth within the next week to be then followed by wireline logging operations.Further announcements will be made, as appropriate, in due course.For further information, please contact:

[ride daice] 02/1/2020 14:59

I'm not too disappointed by the size of the intervals. 8 Meter Anita looks tasty to me.

[paradores] 19/12/2019 13:13

They may have hit on relatively narrow horizons at CLM but reckon they’re quietly pleased with the quality of reservoir sands within the target layers. More to follow from this drill IMMHO, its a flippin’ big area!

[nig40vic] 19/12/2019 09:50

Seemingly good news but only 3 new buys ??