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ECHO Echo Energy Plc

0.00 (0.0%)
04 Dec 2023 - 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 Shares Traded Last Trade
  0.00 0.0% 0.013 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
0.012 0.014
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Drilling Oil And Gas Wells USD 14.11M USD -9.59M USD -0.0017 -0.06 556.06k
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.013 GBX

Echo Energy (ECHO) Latest News

Echo Energy (ECHO) Discussions and Chat

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Posted at 03/12/2023 08:20 by Echo Energy Daily Update
Echo Energy Plc is listed in the Drilling Oil And Gas Wells sector of the London Stock Exchange with ticker ECHO. The last closing price for Echo Energy was 0.01p.
Echo Energy currently has 5,560,618,550 shares in issue. The market capitalisation of Echo Energy is £556,062.
Echo Energy has a price to earnings ratio (PE ratio) of -0.06.
This morning ECHO shares opened at 0.01p
Posted at 14/11/2023 08:00 by helpfull

There must be no money remaining.

I think the payments for the "£1 million" loan are looming by next March.

A steady hand to beach the bad ship Echo Energy onto the rocks to be broken up.

No apology from Parsons.

It is what he does.

Be careful.
Posted at 25/10/2023 19:22 by gary38
Just waiting for Echo Energy life support to be turned off as it has been brain dead for along time.
Posted at 06/10/2023 07:43 by gary38
So far this week the price has dropped from 0.028 to 0.013 = down 0.015 maybe fi ishong at 0.010,a drop of 0.018,which could point that next week that Echo energy share price will be 0.000.:----------------------What happens if the stock price of a company drops to zero?If the stock price of a company drops to zero, it means the company is effectively bankrupt and has no value. Shareholders will lose all of their investment in the company. The company's assets will likely be liquidated and distributed among its creditors.
Posted at 02/10/2023 11:08 by ohdearohdearohdear
They NEED to raise money to continue. But they won't be able to raise money at this share price. And who would give Hull and Parsons more money anyway? Looks like administration is only days away......
Posted at 30/9/2023 11:45 by helpfull
Companies are run for the benefit of shareholders.

Since Echo Energy were blessed with Martin Hull as CEO in 2018 he has received in remuneration:

2018 $156,383
2019 $389,617
2020 $708,724
2021 $423,704
2022 $343,790

Parsons, as Chairman, has received in remuneration:

2018 $101,107
2019 $185,677
2020 $84,210
2021 $110,304
2022 $92,672

That's $2,596,188.

That's over £2,100,000 between them.

There are still bonuses that have been awarded to Martin Hull that have to be paid when Echo Energy has the money.

You don't get such high quality executives without splashing the cash.

Shareholders have a lot to be thankful for.

These two high class executives have delivered a share price performance from around 10-15p a share to 0.028p per share.

Where has all the money gone?

Be careful.
Posted at 13/5/2023 09:13 by helpfull
The £75,000 "token gesture" is so that Echo Energy can keep the lights on. And finalise the sale. Directors need paying. And very well indeed.

The buyers of the Echo Energy 65% stake in the Argentinian asset don't give a fig about Echo shares. They probably think they are near to worthless. They would have just as willingly accepted less shares. An example of the state of the company. They can't give the shares away.

Look back at the RNS dated 23 December 2022, when warrants were exercised at 108% premium. The cash received kept the lights on. And along with the upfront cash payment from the gas contracts ($700,000 net to Echo) allowed the company to negotiate the sale of the assets. Marco Fumagalli and Lombard departed the company during this time.

The mug punter of course realises all this. And that there is nothing left after all commitments are met. He now deserves his fate. There were and are plenty of warnings.

Be careful.
Posted at 20/4/2023 08:04 by helpfull
Cash burn.

Look at any set of results for Echo Energy.

From the revenue subtract the cost of sales and then the administration expenses and you will get a negative figure.

The cost of selling oil and gas has been higher than any revenue (even at high oil and gas prices).

Echo have shut in wells because they are losing money on any oil they sell. Basic economics. Just like the Covid period.

With the downturn in Jan/Feb the problem was exasperated.

And nobody wants to take part in a placing because they couldn't sell the placing shares on to the mug punter at a profit because the share price is continually falling (especially with Lombard publicly jumping ship).

A vicious death spiral if there is such a thing.

Be careful.
Posted at 22/3/2023 08:54 by helpfull
More shares sold.

Between 08.03.2023 and 20.03.2023 Lombard sold another 60,000,000, or so, shares.

On 08.03.2023 the share price was 0.085p.

On 20.03.2023 the share price was 0.0625p.

Who is going to win the battle, Lombard or the mug punter?

Lombard has another 1,049,053,877 shares it can sell. There are billions of other shares that were swapped for debt also.

Be careful.
Posted at 10/3/2023 07:46 by helpfull
There are two methods to get the mug punter to invest.

The first is to dump millions upon millions of shares and the share price crashes and the mug punter is attracted by low prices. Thinking there is a bargain to be had.

The second is to raise prices for no apparent reason. The mug punter sees the price rise and is attracted by the fear of missing out. Thinks something is happening (at last) behind the scenes. And there is a bargain to be had.

Both methods are used to remove cash from the pockets of the mug punter and sell the shares. It is, after all, a market. The mug punter is likely to hold the shares and lose more cash by averaging down.

Be aware that there were over 3 billion share issued at Echo in exchange for some of the debt. Those shares are being sold. Lombard sold about 65,000,000 in the last 3 weeks. They have 1,000,000,000+ they are likely to sell. But there are other (billions of) shares.

Echo Energy still have millions of pounds of debt. The share price is likely to resume its fall under the weight of shares for sale. The mug punter is the only game in town.

Be careful.
Posted at 17/2/2023 15:34 by helpfull

Lombard down from 21.96% to 20.92%.

That's 1,221,253,877 shares down to 1,163,753,877 shares.

A drop of 57,500,000 shares.

And look what it has done to the Echo share price. Can the share price withstand Lombard selling out completely?

Of course there are other people with shares to sell. Lombard was only €5,000,000 of the debt converted. There was another €10,000,000 converted to shares.

How low can this go?

The selling by Lombard et al is a sure signal to potential investors.

Be careful.
Echo Energy share price data is direct from the London Stock Exchange

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