Echo Energy Share Discussion Threads

[investor_2] 19/4/2021 17:47

I think you should use your so called intelligence to do something constructive with your life. What a sad life you must live coming on boards trying to trash shares you don't hold, unbelievable! Feel sorry for you mate, anyhow i have no intention on having this back and forth with a keyboard warrior. Head up son, you'll get there!

[terminator101] 19/4/2021 16:03

I think you need to read the RNS or do you not have the intelligence to understand it.

[investor_2] 19/4/2021 15:37

Bore off fella! I'm sure you have something better to do with your life you sad man.

[terminator101] 19/4/2021 14:48

Declining production Shedload of warrants at 0.3p LO with a massive shortConsistently loss making. Those are the numbers!

[oilbuy] 19/4/2021 12:52

The numbers are .3p to 1.15p bidThey are the numbers !

[helpfull] 19/4/2021 12:45

It's all in the numbers.

"1 January 2021 to 31 March 2021 reached an aggregate of 152,673 boe net to Echo, which included 17,814 bbls of oil and condensate and 809 mmscf of gas".

17,814 bbls of oil produced in 90 days. Average daily production in March 2021 of 230 bbls per day. Therefore 7130 bbls produced in March.

230 bbls per day was an increase of 124% on February daily production. Therefore 186 bbls per day in February or 5208 bbls in February.

17,814-7130-5208 = 5476 bbls produced in January 2021 or 177 bbls per day. That a low figure! Fell from 210 bbls per day in Nov/Dec mentioned in 8th December 2020 update. That's after :

"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" .

So much for work overs. Expectations are far higher than results achieved. The increase in Nov/Dec was due to 4 wells brought back online. March 2021 increase was due to:

"a series of optimisation activities being implemented in the field".

The same increase appears to be regurgitated for different reasons. With no overall change. Something not quite right my spidey senses tell me. A tingling. Be careful.

[knackers] 19/4/2021 11:27

Oilbuy - exactly. Hardly needs saying except to those that find the facts of the situation perplexing.

This isn’t fanciful it’s v real and is the culmination of a tremendous effort by the company’s Exec team. No longer a restructuring/ rebalancing story, it’s all about growth now. Profitable growth.

Martin Hull CEO Echo Energy,
“These upgrades not only unlock previously shut-in liquids production but will also provide additional capacity with which to open up future incremental enhancement projects that have already been identified."

Confident, no nonsense getting on with it etc a total sea change and exciting times ahead.

[oilbuy] 19/4/2021 10:17

You keep referencing the past lolThis is all about the futureMy .3p average born from the past

[coldspring] 19/4/2021 09:30

Not to mention the price of oil is at least 10 dollars per barrel higher and the share price is still in the toilet compared to where it was pre COVID lockdown.

[paradores] 19/4/2021 09:11

The company will be producing more than equivalent 3k bbs per day by the end of this year. That is the forward and near term context, with clear upside on that from just assets in SANTA CRUZ SUR dept.

Interims will be very strong as the company has reduced its cost base significantly.

[paradores] 19/4/2021 09:06

The short is technical they can use warrants to buy back and close position. Non story.

[peterdonovan] 19/4/2021 08:53

https://twitter.com/echoenergyplc/status/1384051329727823879?s=28

[terminator101] 19/4/2021 08:45

So when the ramping crew say "more production" what they actually mean is "much less production". But if you don't reference the previous figures maybe nobody will notice eh? Hilarious.

[helpfull] 19/4/2021 08:14

Urgh! The company never ceases to underperform. The figures tell the story.

"152,673 boe net to Echo" 1696 boepd! Not spelled out by the company. Another fall. Compare that to "net to Echo's 70% interest, from Santa Cruz Sur throughout 2020 of 1,966 boepd (including 10.2 MMscf/d of gas)" from the 24th Feb 2021 Operational update. A 14% fall. And the fall is even steeper when compared to 5th Feb 2020 update when production " was 2,481 boepd (including 560 bbls of oil and condensate per day, and 11.5 mmscf of gas per day) ". That's a 32% fall.

Oil production for the 90 days of Q1 2021 was 198 bopd. And for March 2021 it was 230 bopd. It was "210 bopd net to Echo's 70% interest" in the 8th Dec 2020 update after 4 wells were brought back online. Slow down there. Production in Feb 2020 was 561 bopd. That's a 59% fall in oil production.

And gas. 11.1 mmscf of gas per day in Feb 2020 down to 9 mmscf of gas per day. A 19% fall.

These are company numbers. A sorry picture. Be careful.

[oilbuy] 19/4/2021 07:46

More production !

[stephen uptrend] 19/4/2021 07:32

Fantastic rns today

Shorters are toast !!!!



19 April 2021



Echo Energy plc

("Echo" or the "Company")



Operational and Commercial Update - Q1 2021



Echo Energy, the Latin American focused upstream oil and gas company, is pleased to provide an operational and commercial update regarding its Santa Cruz Sur assets, onshore Argentina, for the quarterly period ended 31 March 2021.



Operational Update



Daily operations in the field at Santa Cruz Sur continue with the delivery of produced gas to customers as expected and without interruption. Production over the period from 1 January 2021 to 31 March 2021 reached an aggregate of 152,673 boe net to Echo, which included 17,814 bbls of oil and condensate and 809 mmscf of gas.



As a result of a series of optimisation activities being implemented in the field around the current production, average net daily liquids production in March 2021 increased to 230 bbls/d, a 24% increase over production in February 2021.



The Company is pleased to confirm that the materials required for the infrastructure upgrades of 23 km of pipeline, announced on 24 February 2021, are now being fabricated by the supplier in Buenos Aires following contract execution and the installation schedule remains in line with that announcement.



Commercial Update



Domestic energy demand in Argentina has continued to improve through 2021 to date and the Company has recently sold a significant domestic cargo of 8,812 bbls of oil net to Echo, at the Punta Loyola terminal, with a price linked to the Brent benchmark subject to typical local discount. Following this sale, net oil stock at the Punta Loyola terminal (excluding inventory in field tanks) is currently 4,237 bbls.



Following the Company's announcement of 24 March 2021, relating to new gas sales contracts for 2021-2022, the Company has now agreed summer and winter pricing for its annual industrial clients, with the contracted winter premium providing substantially increased cashflow in the near term for future operations and production enhancement work programmes. For the committed production over the key southern winter period (May to September), the Company will sell natural gas at an average price of $3.52 per mmbtu, which compares to $1.35 per mmbtu for industrial clients the previous year.



Martin Hull, Chief Executive Officer of Echo Energy, commented:



"Advancing into 2021, Echo has been set on optimising its existing production portfolio and low-risk development upside across the Santa Cruz Sur asset base. The benefits of these earlier efforts are now being seen. Additionally, I am pleased to report that Echo continues to benefit from increasingly strong local energy demand and pricing, which has led us to obtaining premium seasonal pricing to current prevailing spot market prices, and more than double the price of the previous winter period. Against this improving domestic energy price backdrop, we have also executed a significant domestic oil cargo sale which marks an important milestone linked to the improved economic outlook.



Furthermore, we are pleased with the progress we are making on our production optimisation activities across Santa Cruz Sur. Liquids production has recently increased in advance of the upgrades to the 23 km pipeline infrastructure which are progressing at pace. These upgrades will not only unlock previously shut-in liquids production but will also provide additional capacity with which to open up future incremental enhancement projects that have already been identified."

[terminator101] 19/4/2021 07:29

More waffle

[stephen uptrend] 18/4/2021 12:29

They will have to buy back their position and then it will fly back up.

[ride daice] 18/4/2021 11:37

Let's hope the Reddit gang show up then.

[steelwatch] 17/4/2021 23:07

Analysis by GraniteShares shows that Cineworld, Sainsbury’s, Tullow Oil Plc, Hammerson Plc and Echo Energy Plc are the UK’s most ‘shorted’ stocks.

[coldspring] 15/4/2021 16:30

I have already bagged here you absolute buffoon. You wouldn't know a good investment if it hit you in the face like a Gypsy king upper cut.

[coldspring] 15/4/2021 15:05

There goes terminator being thick again.......tell me what LO have used to close their big short if you know all the answers?.......Cupid stunt