Share Name Share Symbol Market Type Share ISIN Share Description
Echo Energy Plc LSE:ECHO London Ordinary Share GB00BF0YPG76 ORD 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.375 0.00 07:51:14
Bid Price Offer Price High Price Low Price Open Price
0.35 0.40 0.375 0.375 0.375
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 2.59 -10.03 -2.61 3
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.375 GBX

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Echo Energy Daily Update: Echo Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker ECHO. The last closing price for Echo Energy was 0.38p.
Echo Energy Plc has a 4 week average price of 0.32p and a 12 week average price of 0.32p.
The 1 year high share price is 3.45p while the 1 year low share price is currently 0.28p.
There are currently 806,717,587 shares in issue and the average daily traded volume is 4,580,649 shares. The market capitalisation of Echo Energy Plc is £3,025,190.95.
helpfull: It's all about what's missing. Sales information. Because since March 2020 the Argentine economy has shut down. Oil and gas sales are down. Oil produced hasn't found a buyer because refineries are operating at reduced capacity and the refiners have oil production of their own to process. The $45/barrel target set by the government only applies when a sale is carried out. It does not mean every barrel produced can be sold for $45/barrel. If there is no demand there is no transaction. The oil is stored unsold. This glut means the Argentine government has issued export licenses to remove some of the bottleneck. PPC, also producing oil in Argentina, has exported some of its oil production. At what the market will pay. Revenues are going to be dramatically down at Echo Energy with reduced production and much lower oil prices. Costs of production are high and it's no wonder the management are scrambling to save money. They've got to try and keep the share price up before the next cash raise. Be careful. The tsunami of debt repayment is going to wash small shareholders away.
brookemia: The final day- in The Court of Public Opinion -of the trial of James🤥Pinocchio Parsons, ex-CEO, MARCO Fuming Alli, ex-Chairman, and Ms Sarah Dees-The Fixer💃 All other defendants have turned Queens and have been warned they face a Custodial sentence, for the scale of their corruption. “Fat Malcy” Graham-Wood who protested he was only in it for the free lunches🥩 7828;🥟ԍ90; has been admitted to hospital, severely malnourished, but expected to pull through, and well-prepared for his new prison diet. Marco the Mobster has been thoroughly exposed as nothing more than a crooked thug with proven fraudulent backers, and seemingly joined at the hip with the next defendant, the star of the show, Aston-Martin driving, Panerai watch-wearing (£20,000) James🤥 Pinocchio Parsons Mr P.Canna prosecuting QC, is looking supremely confident as he smiles with satisfaction, looking at 🤥Pinocchio with his steely hawk-eyed stare, boring a laser like beam at the former CEO, it looks like 🤥Pinocchio could be showing the first sign of nerves😟 This is definitely not the Showman🕺we have been accustomed to, and maybe his former colleagues sacrificing him is beginning to take its toll🤦‍♂️ Mr P. Canna QC, begins by asking Pinocchio🤥 why he thinks his former minions have offered him up for crucifixion, and Pinocchio said that -like the Investors- they misunderstood his motives, and he was a family man looking to protect and provide for his family. Mr P. Canna enquired as to whether it was acceptable for 🤥Pinocchio to make promises,about the share price which were blatantly untrue, and to issue false RNS’s when The BOD knew otherwise🤔 Pinocchio🤥 said that Sound had an office-based lawyer👩̴5;💼 so he should have known better and all 🤥Pinocchio did was Sales & Marketing. Mr P. Canna QC, reminded 🤥Pinocchio that he-aided by The fixer💃Ms Dees, had subsequently removed all traces of his blatant hyperbole and false claims from the website, Twitter and Facebook. Pinocchio replied that it was just housekeeping and that it was the fixer’s 💃 actions and not his. False RNS’s were issued about TE8/9/10 when The BOD knew different asserted Mr P. which 🤥Pinocchio replied, that the eminent geologists, former colleagues and employees did not understand the ”BIG PICTURE” and this was unfortunate said 🤥Pinocchio. “Is this why some were fired” enquired Mr P.Canna, to which 🤥Pinocchio replied that he needed “Team Players” Mr Canna replied that it was more the case that they did not agree with false RNS’s which were illegal. 🤥Pinocchio replied that he was an Accountant, to which Mr Canna said yes, you were, but have been disbarred, because you failed to live up to the standards required of The ICAEW. 🤥Pinocchio replied he did not ever need to work again as he was a successful entrepreneur Mr Canna QC, asked why 🤥Pinocchio was still advising Investors to buy and claiming “ four figures won’t cut it” “golden tickets” and other hype when he was selling down his own share through a trading plan. Was this not immoral at best, and very probably illegal as 🤥Pincchio was in possession of material facts that proved geologically different🤷‍♂️ Pinocchio replied it was just 🤣salesmanship😂 and that his strength of a deal-maker, was why he was employed. Mr Canna suggested that the only successful deals 🤥Pinocchio had brokered whilst in the employ of Sound had been dodgy at best, probably illegal and had only benefited 🤥Pincchio, his “friend” Mr Rude.Hope,Fuming Alli and the💃Fixer Ms Dees Justice Richard, looking very irritated with 🤥Pinocchio, called for a lunch recess...
helpfull: Careful.Don't mention the war. Sorry. I meant don't mention the reason for the exit. There is a lack of cash at Echo. Despite producing oil and gas there is a cash problem due to the lack of it. The company is all about conserving money to pay the interest on the loans. And salaries. There is no plan B. No update on production in Argentina or if the company is able to sell the oil it produces. The situation is dire. But don't mention it. The future is bleak. The only people buying these shares are the people who already own them and can't let go. Averaging down. They've made a mistake and need to get out. But can't. The necessary cash raise is going to kill the share price.
kasspass: I Don't get the point of these agms. total waist of time. More worried about the share price that s stuck in a downward spiral.
brookemia: 8% interest issued at 80% of par, 10% fee and warrants. Could be Sound Energy, Coro Energy or Echo Energy. Today it is Echo Energy. The debt bubble is planted in each. Heed the warnings. The share price is under pressure. As an investment the game is over. My favourites include: " it would be rude not to", " a cheeky little top up", " these same people had a 50 bagger at IRG/Echo(sic)" and " all the more for me". I hope everyone involved doesn't waste any more time and money on Echo Energy. I'm sad to say it's not your money anymore. Stay and see the end but make sure it will not cost you money. There is oil/gas revenue but it is matched by cost of sales and administration costs and interest costs(suspended). There is unlikely to be any drilling and cost savings will be the only game in town. Expect the CEO to go or accept NED status as at Coro Energy. Mr Parsons and Marco to rule the roost.
cerrito: Anyone have a view as to why Echo and Hamman have parted company? That said, never clear to me why a company with a marcap of £14m and a low share price needed 2 brokers as well as a different company as a Nomad.
avsome1968: Sbb1x Cash position December was 15.6m if I remember but that's dwindled over the last 8 months, due to 7.9m payment for seismic data running cost etc, think they turn over around 750k gross a month selling there oil/gas so wouldn't surprise me there cash balance to this date be around 8-9m. Each well will cost between 2-5 m so no problem with first drill cost wise, think there hoping for a improvement in share price so have options to raise further capital. Whilst the directors remain acutely cost conscious and value focused, the Group recognises that in order to pursue organic and inorganic growth opportunities and fund on-going operations it will require additional funding, this may be sourced through debt finance, joint venture equity or share issues. The cash balance of US$15.6 million will be used to fund the Tapi Aike seismic acquisition programme, progress towards drilling and our other working capital requirements. Directors bought in at 4.1p so good entry point, plus this year they've had 2 placing 36,391,412 at 17.5 pence and On the 25 May 2018 Echo announced a placing and subscription to raise GBP8.5 million, before expenses, through the issue of 71,185,447 new ordinary shares in the Company at a placing price of 12.0 pence per ordinary share. Hope it helps
cerrito: A good AGM and too bad there were so few private shareholders- only about 6/7. Formal part despatched quickly on a show of hands basis. The spooky thing for me was that only 42m shares voted ie a 9pc turn out. This is not surprising given the shareholder base and just 14pc of the shares held by the 3pc+ holders. Indeed it would appear that the Pegasus Alternative Fund did not vote their shares. To me this reliance on private shareholders is a major Achilles heel of the company. All resolutions passed 90 pc+ but given the nature of those who voted that does not tell us much. A video which will be on the website shown , presentation and q&a with Hall, who for me came over very well. Directors hung around after the meeting. The big picture is that we will learn nothing much in the next 2/3 months but the picture will be clearer by end September. They will have given the chapter and verse of the TA seismic results and will have further info on the exact drilling programme; the panorama for the Federal elections due on October 27 will be clearer and we should have a decision on Bolivia. Alot of focus on their cash requirements in light of the new arrangement with CGC which personally I think is very favourable to Echo. The total cost of the four wells is currently estimated to be US 20/25m ie the Echo share US4/5m compared to the original US 13 m+. They would not give specifics on how their cash requirements for the Seismic have reduced as a result of the new agreement, which took effect May 1; the total seismic spend will be US8m or the original amount for Echo would have been US5m. If we say the seismic costs for the smaller (at 482) and shallower East were say US3 m; that was done pre May 1 so the Echo spend would have been US2m. If you say half of the west was done by May 1, that would imply US2.5m at a 65% share for Echo and US2.5m at 19% share-a total cost for the West to Echo of approx. US2m compared to US3m under the previous arrangement. Another advantage of this new deal is that there will not be now the situation where CGC were betting with Echo’s money. It does of course mean that as Echo’s voting power will be reduced and that they will have to be more persuasive to get the outcome they want. Hall emphasized more than once that they want to be very careful and not be rushed in the drilling decisions they take on TA but clear that they are concerned that they will be under pressure from the Province to speed up decisions. Luckily the Provincial Elections( where Echo are not anticipating any change) will have happened before then. Two wells to start this year and two next year is the plan. I did not probe enough about their cash flow and if they have enough cash to see them through till say April next year when they will have the drilling results of all four TA wells. If you take this 16 month period, you have interest costs of US2.5m approx, the US4m I have guestimated spent on seismic and say £4.5 m on drilling. Now that they do not need to spend £400k+ on Fiona's salary , wages and salaries will be lower than last year's £2.4m let us say 2.5m in the 16 Month period. In addition we have admin expenses and any losses of CDL in2019. They started the year with a good non cash working capital position and have had the US2m returned by CGC my very rough back of the envelope calculations show they may well have enough cash to survive till the TA drill results are known. They may well be able to get an interest deferral on the loan at suitably high rates. If the drill results are good all will be well and if bad we are presumably sunk. This is on the basis that any new Federal Government does not introduce any negative policies. PS I welcome a robust review of my figures. PPS There are quite a few fund managers named Pegasus.Pegasus Alternative Fund Ltd is also invested in another company where director Marco Fumagalli is invested so may be they are a core investor. Heaven help the share price if they decide to sell. PPPS I see that they have two brokers Shore Capital and Hannam. I have not come across the second one before but they are big in O&G/resources and have what appears to be a big and powerful team. Cenkos is their Nomad so that they do not lack for City backup
napoleon 14th: ECHO - TheShareHub. The first HEADS UP of 2019 goes to ECHO ENERGY. Echo Energy, is a Latin American focused upstream oil and gas company, with an active operational programme in 2019. On Jan 8th 2019, the company issued an update on operations: “Further to the Company’s announcement of 11 December 2018, the Company confirms that the equipment required for the stimulation of the EMS-1001 well, drilled in June 2018 on the Company’s Fracción C licence, onshore Argentina, has now arrived on site and that stimulation operations have commenced.” END. Assuming progress has gone ahead as planned, results from the early stage work should be coming through shortly. Investors looking for high risk vs high reward but with a decent platform to fall back on such as core production streams and cash in the bank… look no further… The company has a two well Stimulation Programme lined up meaning that if EMS-1001 disappoints, they have ELM-1004 to follow straight after. During 2018, the Company drilled four wells across the Company’s onshore licences in Argentina (Fracción C licence). The first (ELM 1004) and third (EMS-1001) of these wells were initially successful with the Company announcing on 21 June 2018 that the third well in the sequence was considered potentially material following interpretation from the wireline logs. Current Production In 2018, the Company successfully completed four well interventions (CSo-96, CSo-104, CSo-21, and CSo-80) in the Cañadon Salto Field, onshore Argentina (Fracción D licence). On 22 October 2018 the Company announced that these wells had achieved stable production levels. Production from these wells has contributed to a total Company average net production in the year to 12 November, of 876 barrels of oil equivalent per day. Following the success of these workovers and the associated production uplift, the Company has identified a number of additional candidates for well interventions and expects these operations to commence this quarter (Q1). The Company is also evaluating the potential for gas development projects within the Fracción D licence, with a view to monetising existing undeveloped 2C resources. Key Asset: Tapi Aike The Company’s primary objective in acquiring its Argentinean business was to secure access to the high impact Tapi Aike exploration acreage. Tapi Aike – Seismic Acquisition. 3D seismic’s over 1200km2 on the Company’s high impact Tapi Aike exploration should be underway soon as per last years update and cited to take approximately 4 months. The Company believes that the Tapi Aike licence offers a compelling multi Tcf exploration proposition and, following completion of the upcoming seismic acquisition programme and subsequent data interpretation, the Company currently expects to define an initial 4 well exploration drilling programme with each well estimated to cost between US$2 million and US$5 million net to Echo. Cash: Cash balances of £26.1 million as at 30 June 2018 Debt: Approx £12m via Bond 8% per annum. Warrants attached exercise price of at 15.1875p. Bonds due May 2022. Market cap: £41.3m Current Share Price: 8.65p The cash pile will have reduced from June 2018 but with ops running low for the last 6 months due to delays, the cash pile should not have reduced dramatically. With close to 1000bopd production, the Bond 8% interest should be comfortable to manage along with capex. Should well stimulation plans go to plan, production could rise significantly and potentially enhances plans for Tapi Aike. The share price looks cheap based on cash balance and production levels. Throw in the active well plan and the risk vs reward is compelling. Not for the faint hearted and key risks remain. As with all stocks. Research thoroughly and do not invest more than you can afford to lose. Target Price: 25p (Approx 3 bagger potental)
crystball: Good to see some stimulation of the Echo share price!
Echo Energy share price data is direct from the London Stock Exchange
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