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with $30 m expected this year before upgrade sp should move to reflect 1 year return on investment worth:
150% sp = 1.30p
50% sp = 4p
25% sp = 8p
very cheap where it is now. dividends are much appreciated at this level. keep calm and wait.
And from today's update (19/04/2021):
""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.""
152k barrels of oil equivalent net to Echo over the first quarter. If they manage to at least sustain this over the year, this implies revenue if circa $30m in 2021 alone, if I'm not off.
LoveRooster69, you may be interested in the following as well from the Campo Limite (CLix-1001) update RNS on 30th Jan 2020. Interesting paragraph below.
""The Company is pleased to announce that CLix-1001 has now been confirmed to have identified the top of its primary target, the Springhill Formation, some 28 metres above pre-drill prognoses and 58 metres above the interpreted regional water contact zone within the area.
The fact that the Springhill Formation, across a 19 metre gross interval between 2,124 metres and 2,143 metres, is shallower than pre-drill prognoses had estimated, is potentially indicative of increased reservoir volumes situated above the water contact across the Campo Limite area, but confirmation of this will be the subject of future technical work. ""
24/2/21 – Operational Update
Gross cumulative production from Santa Cruz Sur for the period 1 January 2021 to 14 February 2021 was 116,040 boe (net 81,230 boe). Increased frequency of Oil Sales Given the indications of an improving macro-economic outlook and, specifically, the increase in oil prices from the start of 2021, there has been an increased demand for Santa Cruz Sur oil, resulting in improved pricing and, as a result, more frequent oil sales. Oil sales to date in2021 have totalled 17,600 bbls net to Echo.
Gas 81,230 / 35 (1 Jan – 14 Feb) = 2,320.86 * ($15 BOE on average) = $34,812.90 per day = $12,706,708.50 per year
Oil 17,600 / 55 (1 Jan – 24 Feb) = 320 per day * $66.34 = $21228.80 per day = $7,748,512 per year
Total Gas and Oil for the year (at current volume) as per 24/2/21 = $20,455,220.
However, this all depends on the price of gas and oil which Echo have no control over.
On the 24/2/21 Echo Energy reported that following continued improvements in market conditions, it had agreed with the Santa Cruz Sur partners to capital expenditure to upgrade and debottleneck the existing liquids pipelines in the assets which would accelerate the return to full oil production, and bring the remaining volumes previously shut in in the second quarter of 2020 back online.
Echo said it expected that, once the pipelines were fully operational, gross daily liquids production would be restored to levels of between 480 and 600 barrels of oil per day, or 336 to 420 barrels per day net to Echo. 420 barrels * $66.34 = $27,862.80 per day = $10,169,922 per year on oil.
Clean balance sheet. No bond to pay back until 2025. Recent contracts signed for Santa Cruz daily gas sales forward sold to April 2022 at a premier 126% overall annual contract from May last year. Plenty of cash to invest in further wells. Martin Hull excited about the potential value at Campo Limite. Joint venture with GTLI a leading Bolivian Energy Operator for hydrocarbon and renewable sectors.
Santa Cruz currently has 5 keys assets with 12 producing oil and gas fields with gas pipes that run all through the area and a port that can ship the oil and gas away.
Plenty of potential and at an exciting junction and this is just the start. Market cap only 14.33 million.
Hey abzzba,
I wanted to plough through the web to find source data, but you've made reference to them, thanks, appreciate it!
BR
LR
aimranger is using the figures stated in ECHO workover RNS from 8th June 2020, the Monte Aymond RNS 29th Sept 2020 and ECHO detail on Campo Limite well.
He may be a bit on the optimistic side by using best case figures but probably not too far off the mark, for certain production is going one way only in the coming months and that is UP !!!!
This is the original message. This is not a bone ranger don't try to bite it.
current full production estimated at $ 22m
On uplift of production estimated at $ 88m
Mcap sitting at $20m
rerate is just waiting for a Triger after this warrants fear is gone.
Ranger104uk - granted I'm not a shareholder as yet.
Says it all really. Stop posting on this forum as your input has no use to anyone. I still don't get why you bother posting if you have no investment in this share. Are you really that bored at home that this is a source of entertainment for you?
my advice to you is get another hobby as you have been poor here and alot of people are getting fed up with your crap.
Abzzba
okay I get it a few genuine and over confident shareholders may might muckle get a bit excited and post wishful thinking on their behalf. But granted I'm not a shareholder as yet. (i'm in the process of doing so plus my fees). I'm really confident that I've not posted any untruths or misleading information.
I have posted that in the not too distant past that a bondholder might not have liked MH's proposals (the 1st vote didn't get the required amount) and would show their dislike by not voting. it would seem they have gone slightly further and have gotten their agreed interest their own way.
We learn until the day we die. I've a few days left in me yet.
As and when you see fit I'll enjoy reading your ideas of my misleading information and half truths.
I think theyknowitall knows. I would go quietly too
One year tomorrow we had a operational update , be good to get one again
abz, its just not worth giving these people the air time. Leave them to it
A few genuine and confident shareholders might get a bit excited and post overly confident thoughts however that is light years away from a non shareholder like yourself that posts half truths and generally misleading information, also, if you insist on using LoveRooster69 words at least try and keep it accurate, i realise that might tax you a little but give it a try, its called being truthful and accurate, i guess thats something you have yet to learn.
I think over and out as your not worth the key strokes.
Yawn
Thanks for that
It's okay for folk to post continual wishes, jumped up figures and backslapping of others that do the same. But when someone asks about hard figures and facts.
Loverooster69 hits it hard on the head with his 2nd para of 16:55. getting real up to date figures from the heavenly body that's Echo "which doesn't like to be transparent"... and I ask too many questions? The cult that is this board will decide what my game is.
And here's me thought 2 for 1 on drink had stopped.
Do try and keep to the facts and please post all my untruths.
ranger, no need for thanks, i only posted this in the hope it might put paid to your incessant posts which try and rubbish echo and the very real positives that have been accomplished in recent months, if you actually held some shares it might be a little more understandable but by your own admission you own not one share, i will let the real investors that visit this board decide for themselves what your game is.
Thank You Abzzba
I've found it now.
Cheers
ranger, see 1st December RNS paragraph as quoted below.
""Cancel 74.2 million warrants to subscribe for new Ordinary Shares granted to the Lender on entry of the Debt Facility, replaced by 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.""
ARahim
Very easy one for someone regarding the warrants
2 published RNS's same volume of warrants 74,200,000.
2 differing prices .3p and 3p difference being a lot to Echo but slightly misleading if it's an error.
Sorry if you think is so many questions but very few people in here deal in facts.
ranger you have many questions regarding figures. 22k or 222k, 0.3p, 3p or 30p for the warrants. production figures are they close to what was published or not. better forward an email to echo and explain what the confusion is about they my correct some errors in their published material.
Thanks ARahim
But I never go and someone else's guesses I was looking for hard production facts.
ranger
Thanks Love Rooster
A good honest answer.
Can you cast light on the 74,200,000 warrant,s there seems to be a bit of a difference in 0.3p and 3p quoted in the 2 RNS's
ranger here is the link to the figures on twitter.
https://twitter.com/AIMRANGER1/status/1382228236579565568/photo/1
read the pdf
Ranger,
Assuming the figures quoted by ARahim are correct (they're posted by another member of this board via twitter link), all I am saying that current (assumed) full production annual revenue is very close to current market cap of Echo.
No doubt that the actual figures are much less; the company isn't too transparent with actual sales figures in its operational updates, but the annual results can't be too far away, so I guess we will find out the state of affairs as at 31/12/20 quite soon.
Lovely chicken
The market. I'm interested in volume of product produced and sold for hard cash not what the money markets think Echo may be worth.
Or are you saying the markets as in the oil and gas commodity markets?
Oil price rising nicely!
So at the moment the market priced us at revenue from assumed full year's capacity (£14m = circa $20.6m)