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ECHO Echo Energy Plc

0.0033
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Echo Energy Plc LSE:ECHO London Ordinary Share GB00BF0YPG76 ORD 0.0001P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0033 0.0032 0.0034 0.0033 0.0033 0.0033 204,054,916 07:31:49
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Drilling Oil And Gas Wells 14.11M -9.59M -0.0017 0.00 0

Echo Energy PLC Strategic Update

09/05/2024 7:00am

RNS Regulatory News


RNS Number : 7655N
Echo Energy PLC
09 May 2024
 

 

Echo Energy plc

("Echo Energy" or the "Company")

Strategic Update

As previously announced in its final results for the year ended 31 December 2022, following the partial divestment of its assets in Argentina and subsequent debt restructuring and cost reduction program, Echo Energy has been active in exploring potential opportunities to secure new assets. As a result of this process, and following a full review of the business, the Board is pleased to announce that it has decided to broaden the Company's acquisition strategy towards a wider range of natural resources projects.

 

The Company is studying a number of potentially transformational projects which fit with this revised strategy. Amongst these opportunities is a gold project in Latin America, which the Directors believe has the potential to create significant future value for shareholders, without requiring a large initial capital investment.

 

Discussions are ongoing and there can be no guarantee at this stage that these negotiations will conclude successfully. The Company expects to make Further announcements relating to this revised acquisition strategy in due course.

 

Christian Yates, Echo Energy Chair, stated:

"Our focus is on finding opportunities to generate material value for our investors.  Echo's network and relationships, within Latin America, have presented opportunities across the natural resources spectrum, which we are rigorously reviewing and we look forward to updating our shareholders on our plans as soon as we are able."

 

 

For further information please contact:

 

Echo Energy

Stephen Birrell, Chief Executive Officer

info@echoenergyplc.com

 

WH Ireland Limited (Nominated Adviser & Broker)

James Joyce

James Bavister

Isaac Hooper

  

Tel: 44 (0)20 7220 1666

 


 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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