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% 0.575 991,046 07:46:35
Bid Price Offer Price High Price Low Price Open Price
0.50 0.65 0.575 0.575 0.575
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -7.44 -2.70 4
Last Trade Time Trade Type Trade Size Trade Price Currency
16:25:52 O 48,758 0.5999 GBX

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Trade Time Trade Price Trade Size Trade Value Trade Type
2020-04-08 15:25:550.6048,758292.50O
2020-04-08 14:49:320.6080,000479.92O
2020-04-08 14:35:440.5075,000375.08O
2020-04-08 12:32:220.6019,844119.04O
2020-04-08 10:05:460.52165,344851.52O
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Echo Energy (ECHO) Top Chat Posts

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 0.58p.
Echo Energy Plc has a 4 week average price of 0.28p and a 12 week average price of 0.28p.
The 1 year high share price is 4.03p while the 1 year low share price is currently 0.28p.
There are currently 711,717,587 shares in issue and the average daily traded volume is 1,572,872 shares. The market capitalisation of Echo Energy Plc is £4,092,376.13.
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: Bushman YES definitely enough cash for first two wells, I think they will get on with the drilling, get the share price moving from were we are at now if we get lucky on first drill that's a time to raise extra cash for further development. I've a lot in here 1m shares now bought from 5p down to 2.45p just breaking even now feel very confident in echo pretty low key.
avsome1968: Nice volume today decent rise should see odd dip here and there as people take profit but we should have a gradual rise near spud, remember MATD share price depressed for a fair few months then soon as spud dates released 8p no time, get in early before the crowds arrive .
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
lukmanpatel: Another troll by the username lsehotdealz haha, share price is stagnant and there’s talks of fundraise at 10p on that board lol desperation has lead to going round posting on different board to prevent share price from dropping, usually ud stay quiet and average down and accumulate if you see huge potential lmaoo he’s spamming all the boards and a newly registered today as a member lol
cerrito: Just listened to this hxxps:// I have to say not overly impressed as for too much glib talk about m and a which seemed odd given the share price and the reality of their cash explained in the Going Concern Statement.He did not comment on the depth of their team so I have no idea if they have the management infrastructure to do an acquisition. No mention of CDL and said that on Bolivia continuing to see what their neighbours were doing. Given the political situation have no interest in buying more but for me no point in selling at these prices
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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