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% 0.625 529,480 08:00:28
Bid Price Offer Price High Price Low Price Open Price
0.61 0.64 0.625 0.625 0.625
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 11.13 -15.27 -1.99 8
Last Trade Time Trade Type Trade Size Trade Price Currency
15:00:26 O 752 0.6125 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 0.63p.
Echo Energy Plc has a 4 week average price of 0.57p and a 12 week average price of 0.54p.
The 1 year high share price is 1.88p while the 1 year low share price is currently 0.32p.
There are currently 1,298,813,085 shares in issue and the average daily traded volume is 3,271,141 shares. The market capitalisation of Echo Energy Plc is £8,117,581.78.
helpfull: Interesting September. Half year report by end of month when figures are released. What is going to happen to the share price? If a cash raise occurs during September the share price will most likely decline and any loan or bond holder who decides to convert loan interest for shares will get more shares for his money. In such a scenario current shareholders would be the losers. Management wouldn't do that would they? That £1,000,000 loan is due in March 2022. Instalments of £100,000 and £50,000 have already been paid. And another £50,000 be end of September. December is another £50,000 and then £1,000,000 by end of March 2022. Cash is at a premium. What will be the cash position in the interim report? Be careful.
helpfull: Wow! That interview should worry investors. Cash generation is not good enough to service debt interest. No "cash" debt interest payments. The CEO didn't bother to mention the upcoming "share" debt interest payments. He's not worried about share dilution and the effect on the share price. Never mentioned the three cash raises last year though Echo was "cash" generative. With all the difficulties bringing recently shut in wells back online how is the company going to cope with Monte Aymond. Drilled in 1984. Deteriorated since. A new well required? Can Echo afford that? Shareholders need to wait for 2021 half year results at the end of September when numbers have to be revealed. Might explain why the CEO wants shareholder permission to allot more shares for a cash raise and the current cash position and the repayment of the £1,000,000 loan next March. Be careful.
alancapone: Echo Energy PLC Operational Update 26/08/2021 7:00am UK Regulatory (RNS & others) Thursday 26 August 2021 RNS Number : 8161J Echo Energy PLC 26 August 2021 26 August 2021 Echo Energy plc ("Echo" or the "Company") Operational Update Liquid production increases Echo Energy, the Latin American focused upstream oil and gas company, is pleased to provide an operational update regarding its Santa Cruz Sur assets, onshore Argentina, for Q3 2021 until 23 August 2021. Operational Update The Company is pleased to confirm that following installation of the pipeline required to bring back online the liquids production which was shut in April 2020, the infrastructure has now been successfully commissioned for operation and shut-in wells are being brought online. This follows an upgrade of the electrical infrastructure, which was designed to support the first tranche of production from the Campo Molino and Chorillos oil fields to provide sufficient power to support sustained production from the associated ten wells. These upgrades are also part of the Company's strategy to control critical infrastructure previously rented from contractors. To date, the Campo Molino oil field has been brought back online with four of the shut-in wells now back in operation and producing from the Springhill reservoir. This first tranche of restored production will increase the number of active producing oil wells at Santa Cruz Sur to 18. As of 23 August 2021, the recently reactivated wells have contributed to an almost 50% increase in total liquids production at Santa Cruz Sur compared to the period immediately prior to this (281 bopd gross, 197 bopd net to Echo - during the period 1 -17 August 2021). This represents an increase of 137 bopd gross, 95 bopd net to Echo and work continues to bring the remainder of the first tranche of shut-in production back online. The production levels from the initial reactivated wells indicate that the shut-in period has not had a detrimental impact on reservoir behaviour in the Campo Molino oil field. Prior to shut-in, the combined gross production from the ten oil wells was approximately 138 bopd gross, 96 bopd net to Echo, approximately the same level now being achieved from the initial four wells, with the associated upgraded infrastructure. Daily operations across the asset base in Santa Cruz Sur continue with the delivery of produced gas to industrial customers under contract with premium winter pricing being achieved. Production over the period from 1 January 2021 to 23 August 2021 reached an aggregate of 381,243 boe net to Echo, which included 48,211 bbls of oil and condensate and 1,998 mmscf of gas. Martin Hull, Chief Executive Officer of Echo Energy, commented: "During Q3 2021 we have continued to make significant operational progress and deliver against our objectives. Successfully increasing our liquids production is an important milestone. There remain further production upsides as we continue through the programme of reopening previously shut-in wells. Increased production combined with the continuing marked upswing in global commodity prices materially increases our cashflows enabling reinvestment to further drive growth. The ongoing production increases have been achieved while maintaining our careful cost management in order to maximise value for shareholders."
stevomeister: I represent a group of concerned private investors in Echo Energy. I will get straight to the point regarding our concerns about the direction of the company. 1) Most, if not all of, have little confidence in Martin’s record in running Echo Energy to the standard we expect from a CEO, especially one on his current renumeration which we find hard to justify based on his record to date. We wonder if due diligence was done in his appointment and if the job was offered to outsiders, or if the BOD simply chose their colleague. Not every CFO can be a CEO, and we have seen Martin make 2 or 3 interviews in the last year which is wholly unacceptable for a company in Echo’s position with his peers making double figure appearances in the same time frame. One example which Martin would fare unfavourably with, is the very competent and PR-savvy head fo Zephyr energy who has presided over a 10-fold increase in his company’s share price over the last half of year. If Martin is not confident in appearing in public, nor confident in his knowledge of the company he heads (there have been a few examples we can give) to stand up to public forum, it may be an idea he reverts back to his original role as CFO and let someone more competent in these fields to take over as CEO- which should be selected from an open market rather than an ‘inside job’. His PR absence is certainly not due to the lack of time which brings us to our second point. 2) We are concerned about the sheer amount of time he is currently spending on private conversations with various private investors which is fuelling an unprecedented rumour mill with seemingly pieces of information being drip fed causing a significant amount of confusion. Furthermore, we wonder if these are pushing the rules regarding disclosure of price-sensitive information, and what effect this would have on the share price should they be investigated by the FCA.. Even in the small cap market, this is highly irregular for a CEO to spend his time. We feel that this paints a picture of someone going to extraordinary lengths to avoid scrutiny which raises numerous red flags- cold water was poured on the recent suggestion for a ZOOM call for example. 3) We know you aware that others have raised the election of a non-executive to represent, us, the private investors to break the current shadowy cloak that covers Echo- with little public engagement, seemingly deliberately opaque news releases, and a CEO who spends an inordinate amount of time chatting to private investors in individual calls. We hope that you will choose to engage with us and have our concerns officially recognised via resolutions in the upcoming general meeting rather than things having to be escalated which would negatively affect our holdings. Regards Echo Investors Group
stephen uptrend: 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."
helpfull: 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. Sssshhhhhush! It has begun. The first 5,245,098 warrants from the Dec 2020 cash raise have been exercised. Only another 162,000,000 to follow at 0.7p/0.75p. Hot on the heels of 74,200,000 warrants at 0.3p coming to market on Friday. Itchy feet. Anyone get the feeling that the rush to the exit has begun? The holders of the 95,000,000 warrants at 1p from the 27th July 2020 must be watching anxiously. 74,200,000 + 167,843,138 + 95,000,000. What does that add up to? 337,043,138 possible new shares coming to the Echo Energy share register. Is that an increase of 27%+ on the share register of 1,219,367,987 on 1st March 2021? The cash raise on 22nd December 2020 was "as a result of additional demand following the Company's fundraising announced on 1 December 2020". If there was "demand" why so generous with the warrants? There were no warrants when the cash raise on 1st December 2020 was announced. Expect turbulence. The short by Lombard recently caused the share price to fall. The small shareholder should be worried. Anyone know of a reason to sell the shares? Be careful.
helpfull: What has happened at Echo? The company will issue 74,200,000 new shares at 0.3p and receive £226,000. As a result of warrants. Lombard opened up a 6.08% short position to protect their shares. They liked the look of the 1.8p+ share price and wanted to protect the value of the investment before they had time to sell. They receive the shares on Friday 16th April 2021. And do they intend to sell? 74,200,000 shares. Says a lot about their thoughts on the company prospects. Have they not heard the share price will be 2.5p by the end of the month and even higher be year end? And why were they issued the 74,200,000 warrannts? Look at the 1st December 2020 debt restructuring announcement. The company deferred interest payment on the €5,000,000 8% loan until 2025. Lombard would have received €400,000 a year. If Echo paid the loan interest for the next two years it would have to pay €800,000. The company couldn't afford to pay. The warrants issue can be seen as a discounted placing at 0.3p. If the shares from the warrants are sold at 1.3p Lombard will receive £740,000. That's the equivalent of two years interest payment on the 8% €5,000,000 loan. Paid for from the share pool of the Echo shareholder. Be careful.
helpfull: 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.
knackers: Ride, very well played and FWIW my posts 7 & 18 Dec 20 below and nothing has occurred since to change my mind. Reckon these targets are still on the money: + + + + + + 07 Dec: If Martin can get the balance of debt restructured Echo will be in good shape. The relatively new Sur assets ‘sure’ look promising ;) with a fair wind success with the testing at Limite and a couple of healthy work-overs I’d have thought 3k boe a realistic near term production target, providing a solid base to open up western TA where I sense - if historical drills are a thing to go by - there is far better (gas) prospectivity than in the East. Still big potential there and at these prices, fully discounted. Toe dipping. + + + + + + + 18 Dec: Morning team, see what today brings then. Not selling a single share sub 3p, and that’s my near term target. Echo is about as undervalued as Tesla is overvalued. Ridiculous state of affairs. If the mkt is a weighing machine it’s well and truly broke with these two. Echo share price targets in the next 11-18 months: - Work overs in Cruz Sur = 1-2p - Campo Limite successful test = 2-4p with upside from low risk springhill vicinity - 1st success in western cube TA = 7-10p Exciting year ahead and all underpinned by growing production base and an oh so low share price In a nutshell - Risk very much to upside. Martin Hull deserves a few options m’thinks. Respect.
knackers: Morning team, see what today brings then. Not selling a single share sub 3p, and that’s my near term target. Echo is about as undervalued as Tesla is overvalued. Ridiculous state of affairs. If the mkt is a weighing machine it’s well and truly broke with these two. Echo share price targets in the next 11-18 months: - Work overs in Cruz Sur = 1-2p - Campo Limite successful test = 2-4p with upside from low risk springhill vicinity - 1st success in western cube TA = 7-10p Exciting year ahead and all underpinned by growing production base and an oh so low share price In a nutshell - Risk very much to upside. Martin Hull deserves a few options m’thinks. Respect.
Echo Energy share price data is direct from the London Stock Exchange
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