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
  0.015 4.48% 0.35 2,274,310 13:06:23
Bid Price Offer Price High Price Low Price Open Price
0.34 0.36 0.35 0.335 0.335
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 11.13 -15.27 -1.99 5
Last Trade Time Trade Type Trade Size Trade Price Currency
14:41:21 O 2,635 0.351 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 0.34p.
Echo Energy Plc has a 4 week average price of 0.34p and a 12 week average price of 0.34p.
The 1 year high share price is 0.75p while the 1 year low share price is currently 0.34p.
There are currently 1,452,491,345 shares in issue and the average daily traded volume is 8,845,851 shares. The market capitalisation of Echo Energy Plc is £5,083,719.71.
helpfull: Achieved oil prices in Argentina? "Realised prices for domestic sale of President's Salta crude continue to increase with prices currently US$66 per barrel, an increase of 12% from the start of the year" From President Energy update today. In Argentina. About one half of the current Brent price. Be careful.
helpfull: Is there a march down in the share price? "the Lender having the option, from September 2021, to receive interest value in new Ordinary Shares in the Company issued at a 10% discount to the then prevailing share price at the time of the quarterly interest calculation and/or at the Maturity Date" For Lombard Odier, the €5 million debt would produce about £85,000 per quarter. On the date of debt restructuring Lombard also received 74,2000,000 warrants to subscribe for shares at 0.3p. Perhaps they like that price? They might be selling shares that they could replace with the quarterly debt interest conversion. £85,000 at 0.3p would convert to 28,300,000 shares. Give or take a few. Remember the 10% discount also. Is something similar in process at Coro Energy? Debt interest for shares. Be careful.
helpfull: Compare and contrast. RNS today, 3 May 2022: "The Contracts provide gross 6.0 MMscf/d of committed production, 4.2 MMscf/d net to Echo, at an average price of US$ 4.33 per mmbtu, with the Company able to elect to sell additional volumes of up to 1.25 MMscf/d to Echo under the Contracts" And RNS dated 24 March 2021: "The Contracts provide gross 6.5 MMscf/d of committed production, 4.6 MMscf/d net to Echo, at an average price of $2.64 per mmbtu, with the Company able to elect to sell additional volumes of up to 1.9 MMscf/d net to Echo under the Contracts". Average price up 64%. But the contracted gas down 9%. And "additional volumes" down from 1.9 MMscf/d to 1.25 MMscf/d a fall of 34%. The volume fall reflects the downward trend of gas production in the past few years. Contract size needs to be tapered around future gas production expectations. Did investors expect higher prices? Welcome to Argentina! No surprise was the Chile option. The bit of fluff has blown away. But why the cash raise in January? Await the final results. Be careful.
gary38: From lse board:-:32Dear ChristopherThank you for your patience. I did want to come back with a considered answer rather than a brief acknowledgement.You have raised a number of questions / concerns but I believe it is fair to summarise that the testing of the Campo Limite well is a priority for you. Testing this well is a material potential upside and hence it is a focus for ourselves as management and naturally also for investors. It is right to be interested in its progress. We have sought to address this issue repeatedly during our reports / presentations, various Q&A sessions and also in recent interviews but we take on board your comments regarding communication and continue to seek ways to improve.Before addressing the specific issue it is necessary to understand the financial status of Echo as it directly impacts the well testing. The strains upon Echo's balance sheet have clearly constrained the company and its ability to move forward across various fronts – one of those is the CL well test. The fundamental reasons for these financial constraints are 2 fold;The debt taken out by my predecessors (2017) to fund exploration in assets no longer owned; andThe huge negative impact of the pandemic which resulted in the shutting in of various wells and overall a large decline in revenues versus forecasts. Echo was financially stretched prior to the pandemic and its impact upon the firm was existentialWe have sought to address these issues head on. We carried out a rapid cost reduction / deferral programme and also successful debt restructure (but the debt remains in existence). The impact is plain to see in our published accounts. As at 31 Dec 2020 our trade debtor balance was $13.2m. I am pleased that this reduced materially to $10.1m by the interims as at 30 June 2021. Nevertheless this still equates to substantial amount owed to suppliers in Argentina. Investing for growth from our current cashflows whilst still carrying this amount of creditor debt continues to be a balancing act.As you will have seen we have identified a large suite of production enhancement / growth opportunities. Many are highly attractive particularly in the current price environment. We have provided detailed costs and incremental production rates in presentations.You rightly identify the testing of Campo Limite as another upside. The costs associated with testing are however considerably different today to what they once were. The intention had been to test the well immediately after the drilling. However the pandemic restrictions in Argentina intervened. At that time the vast majority of the equipment needed to test the well ranging from the rig and associated equipment, staff & staff welfare facilities, safety equipment etc was on site and already rented for a period as part of the drilling operations. It has of course since been demobilised. Mobilising all this equipment back to site for a new operation is considerably more expensive. Additionally a
stevomeister: i Posted this on LSE aswell- contact with your number of shares if you want to join us in calling an AGM 1) So it has been a struggle to get to the addresses of the share register from Echo. First they gave me a redacted copy which had, perhaps conveniently, omitted addresses. Seems even the secretary is not familiar with company law. I ended up reporting them to AIM LSE before they sent me the full unedited (as far they claim anyway) copy – which I received a few days back. I get the unsubtle hint that they don’t want me to have that list. Im contacting anyone with large-ish share holding in the company over the next few days. Lets see if, with the knowledge I now have the full list, if they come out with some RNS as has happened before whenever they have been pressed. We had around the needed 5% of shareholders necessary to call an AGM before but that % has decreased due to the recent share dilution and many people selling up. Hoping to get back to that 5% (ideally more to get a cushion) and request an AGM. 2) Going through the shareholders- we had a guy called Clive Roberts before- one of our TR1 holders who has disappeared from the >3% listed in the website. There was a rather notorious Clive Roberts some years back- who was nicknamed the ‘Del Boy’ of the finance industry. Very well connected guy in the fundholder scene. Was charged with several others with insider training but, may I emphasise for legal reasons, was found not guilty. Hard to say for sure, but seems it is the same guy. I did ask Stuart (the secretary) for confirmation and his silence tells me what I needed to know. One of the big debt holders from before (and possibly still now) were implicated in some dealings in the Panama Papers. I went down a bit of a rabbit hole in researching insider trading- seems its absolutely rife and we as outsiders cant fathom the networks behind this and how easy it is to do, especially in AIM. We tend to think of rampers and derampers as someone sitting there in their boxer shorts in front of a desk- but it is likely a lot more polished and bigger than that 3) I wonder who made a lot of money during the last 2 share price spikes, 4) Coming round to the favourite topic of PR- nothing from MH and Echo for the last 6 weeks. What are oil prices now? What are gas prices now? Isnt this a bit strange for such silence from a fledgling Oil and Gas company considering the current market cycle. How many interviews has MH done in the last 12 months?- 3? 4? An oversight is not doing much PR for a couple of months. Countless people have spoken to MH on the phone, clapped themselves on the back that they spoke to the CEO, and posted here that they had been assured that PR is going to be improved. Another red flag is he does not like anything in writing- always a conversation over the phone (and as you know- it is illegal to record someone without notifying them). It is certainly not normal for a CEO to spend so much time talking to lowly PIs. Despite all these repeated verbal assurance- we still see the absence of PR. So at this point, one has to wonder if it so much of an oversight or an actual very deliberate policy. Is someone going out of their way to avoid doing PR in the face of overwhelming private investor frustration and anger? Because, after all, it is a very easily solved problem that would involve one 10 minute interview a month together with 2 or 3 tweets in the same timeframe. MH has spent more time on the phone to private investors telling them that they will improve PR, than he has actually spent doing PR. If that doesn’t raise a red flag to anyone… The next question is- who would be benefiting from this lack of PR if it is a delibarate? 4) Just to be clear- for legal reasons, I am totally not claiming nor suggestion that there are murky nefarious powers who are (or will) profit from the low stock price due to lack of PR nor the previous spikes after the RNS dealing with debt restructuring deal and the workover programme (that didn’t really happen).
gary38: GREAT UPDATE,WELL DONE ALL AT ECHOEcho Energy PLC Operational UpdateSource: UK Regulatory (RNS & others)TIDMECHORNS Number : 0508VEcho Energy PLC09 December 20219 December 2021Echo Energy plc("Echo" or the "Company")Operational UpdateEcho Energy, the Latin American focused energy company, is pleased to provide an operational update regarding its Santa Cruz Sur assets, onshore Argentina for Q4 2021 to 30 November 2021.Daily operations across the asset base in Santa Cruz Sur and the delivery of produced gas to industrial customers under contract have continued uninterrupted during the first two months of Q4 2021. Production over the period from 1 January 2021 to 30 November 2021 reached an aggregate of 523,735 boe net to Echo, including 74,605 bbls of oil and condensate and 2,695 mmscf of gas.As a result of the completion of capacity increasing infrastructure works, gas production in November 2021 averaged 7.1 MMscf/d net to Echo, an increase over the 6.7 MMscf/d net production rate during the previous month.Net liquids production in the first two months of Q4 2021 averaged 255 bopd, and is an increase of 31% over Q1 2021 levels prior to the commencement of production optimisation and the bringing of shut in wells back on line. The benefit of both infrastructure maintenance and the previously announced commercial focus on high-quality blends at Santa Cruz Sur has also led to an increased frequency of oil sales during Q4 2021 to date, with total liquids sales net to Echo in quarter four to date of 16,855 bbls (Q3 2021 total of: 15,050 bbls). This increase in liquids production has helped to offset the expected natural decline in gas production over the year.
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
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.
Echo Energy share price data is direct from the London Stock Exchange
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