Echo Energy Share Discussion Threads

[oilbuy] 12/4/2021 12:37

You got it wrong !

[cookalot] 12/4/2021 12:28

The warrants have been exercised to cover the short so they won’t be dumped.

[terminator101] 12/4/2021 12:07

Standby for LO to dump those 72m warrants too. Nice of you boys to let them get a better price for them :-)

[oilbuy] 12/4/2021 11:56

Not looking good for your short

[viralspec] 11/4/2021 21:24

Because, of course, ECHO are only producing Oil and Gas after midnight in the shopping centres and residential streets. ;o)

Muppet !

______


"The curfew will enter into force on Friday and apply from midnight to 06:00 am every day until April 30, he said in a message recorded at his official residence, where he is self-isolating after being infected with the virus himself.


It will be in force in the country's highest risk areas, mainly the urban centers, the president said."

______

[terminator101] 11/4/2021 20:26

https://indianexpress.com/article/world/from-argentina-to-netherlands-a-look-at-countries-that-have-re-imposed-covid-lockdowns-7267810/ Not looking good for covid in Argentina - more curfews and restrictions.

[terminator101] 11/4/2021 14:07

Nobody in their right mind buys when there is a major seller. "Just taking profit" waffle. They are big sellers full stop.

[helpfull] 11/4/2021 12:41

In the second cash raise in a month in December 2020, £856,000(gross) was raised. Warrants were issued at the same time with the placing shares:

"warrants to subscribe for new Ordinary Shares attached, the Company has also conditionally issued 167,843,138 warrants to subscribe for new Ordinary Shares at any time until the second anniversary of issue (the "Subscription Warrants"). 83,921,569 of the Subscription Warrants are exerciseable at 0.7 pence per new Ordinary Share and 83,921,569 of the Subscription Price are exerciseable at 0.75 pence per new Ordinary Share".

Perhaps large shareholders with warrants from this cash raise will announce shorts. Who knows?

But the important aspect for shareholders to bear in mind is that these warrants when converted to shares represent stealth cash raises. At 0.3p in the case of Lombard and 0.7p/0.75p in the case of the December 22nd cash raise mentioned above. That would be 242,043,138 additional new shares. That's just under 20% of the company shares issue as it now stands. Or 16.5% of the enlarged share register which would be 1,461,411,125 shares. That's 16.5% for £1,439,461. Or £8,724,006 value put on the whole of the company or 0.6p per Echo share.

And the 95,000,000 warrants at 1p from the 27th July 2020 cash raise have not been mentioned. or the option from September this year, to convert interest payments to shares. Could that be €2,000,000 of new shares each year until 2025? Be careful.

[viralspec] 11/4/2021 10:06

That's a complete load of guff.

Suggest anyone refers to Aimrangers post on Twitter ....




NOTES ON RECENT SHORT POSITION

Just wanted to touch on recent events regarding Lombard Odier as there seems to be confusion over the short, so I am going to explain it as simply as I can.

Etc ...

[helpfull] 10/4/2021 12:45

Shorts! Don't you just love them. Lombard Odier open a short position in Echo Energy at 2.9% on 6th April 2021 followed by another 1.84% on 8th April 2021 bringing a total of 4.74%.

What are they trying to protect? On 26th May 2020 Lombard had a holding of 31,170,000 shares representing 4.38% of the company's share issue, at that time, of 711,717,587 shares.

The latest short of 4.74% represents 57,798,042 shares of the now increased share issue of 1,219,367,987 after 3 cash raises in the last year. So the short covers the shares held by quite a margin.

What else might Lombard be protecting? Remember the €5,000,000 loan at 8% debt restructure announced on 1st December 2020? And the warrants?

"74.2 million new warrants to subscribe for new Ordinary Shares (the "New Warrants") to effect a reduction in the exercise price of the New Warrants to 0.3 pence per new Ordinary Share. The New Warrants will vest on the date falling 3 months from Admission and expire on the Maturity Date".

74,200,000 at 0.3p and 3 months. The recent pump in the shares raised the share price above 1.5p. Those shares would be worth £1,113,000 at that price. And only £222,600 at 0.3p. A £900,000 difference. So Lombard protects itself. The "herd" might move on soon. Echo produce only about 210 bopd at present. And have hedged gas prices at $2.64 per month for 70% of its gas output.

74,200,000 shares would represent 6% of Echo shares. The short will have to be increased to cover it all. Add in the 31,170,000 shares Lombard already own and the short might be increased to 8% allowing for the increase share capital.

Steady on. What about the option in the new debt restructure to convert interest on the bond into shares starting in September this year. That would be €400,000 of shares or about 30,000,000-40,000,000 shares each year. Lombard might want to increase that short. They will have plenty of shares to play with.

Why protect? The shares fell to about 0.3p last year due to Covid. Argentina is now entering a second phase. The country can't afford to shutdown a second time. Be careful.

[terminator101] 09/4/2021 13:24

Nobody mention the 13 million dump eh?

[coldspring] 08/4/2021 17:22

Yes of course you Richard cranium......bore off

[richardp19] 08/4/2021 11:37

Back to 0.7 now

[ouija board] 08/4/2021 10:31

Just bought in as there’s a Bullish daily reversal in play.The chart has unwound nicely and now is the time to load up as we head towards 2p+ in following sessions.

Ticking back up 1.1p-1.2p

Blue close would be very bullish!

GLA

[helpfull] 07/4/2021 12:08

hxxps://batimes.com.ar/news/argentina/government-prepares-new-restrictions-as-covid-19-second-wave-hits-argentina.phtml

Be careful.

[easwarareddy] 07/4/2021 11:01

What's with today's pull back s

[disruptor1664] 07/4/2021 09:28

Was that an acceptance of Paras short?

[helpfull] 07/4/2021 08:29

"Better to travel hopefully than arrive"

It's as easy as pie. Get in early before the questions and answers and sit back and reap the rewards. Lovely jubbly.This CEO loves you. He'll let slip something of real value. Won't he? A morsel to send the Twitterati into frenzy? A mammoth oil production number to send the share price into orbit? Some might think they are being mugged. Are they the lucky ones? Be careful.

[paradores] 06/4/2021 19:44

I therefore challenge you to open short Helpfull, go on, put your high and mighty intellect and insights where your mouth is. You are smug and snarling, this is not a good personal attribute.

Show us your courage, as we do. if not - your words are just that. Empty words, utterly irrelevant.

No one else is listening to you. Go on, just listen.... nothing. Rien de plus. Touche pas ma planete!

[napoleon 14th] 06/4/2021 17:52

From 01:08, T= 2p; hxxps://www.share-talk.com/share-talk-bulletin-board-heroes-tuesday-6th-april-2021/#gs.xkh6ua

Looking very solid.
I didn't get caught last Friday, but those who paid over 1.8p should get their money back shortly IMO.

[knackers] 06/4/2021 16:54

...there’s a distinct ECHO in here, or is that Helpless talking to himself again? ;)

Well played chum, you’re doing great! Really you are. Just keep taking the castor oil 2 tbps before bedtime, there’s a good chap. That’ll move things along nicely.

ROTFLMAO

[cookalot] 06/4/2021 08:09

Meanwhile, unbeknown to Helpfull the share price continues to soar

[helpfull] 06/4/2021 07:59

All you need to know about Echo Energy oil production:

"the Company continues to successfully bring oil wells back into production that had been shut in earlier this year. Since 17 November 2020, three additional Springhill fields and 1 Tobifera field have now been brought back online in the Chorrillos and Palermo Aike licences increasing gross oil production by around 50 bopd to approximately 300 bopd (c.210 bopd net to Echo's 70% interest). This recent increase in oil production represents an uplift of approximately 19% across the Santa Cruz Sur assets"

Taken from 8th Dec 2020 Operational Update. Echo are producing about 210 bopd(net). 4 wells brought back online included in that figure. Those 4 wells produced 50 bopd (gross) between them, that's 35bopd(net) to Echo. Or less than 9 bopd per well. Blue sky figures. There were two cash raises in December. Due another at the current bloated share price. Be careful.