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The cost of sales would have included the upgrade cost. So profit of millions in second half…
Good. But much better post period activity.
Post Period End Highlights
The positive market changes seen in H1 2021 continue post period, and coupled with the restructuring completed in H1 2021, enable the Company to operate from a significantly more stable platform.
At the Santa Cruz Sur asset level, successful commissioning of the liquids pipeline enabled the Campo Molino oil field to be brought back online, contributing to an almost 50% increase in total liquids production in August 2021.
The maturation of the Company's investment in Santa Cruz Sur, and ongoing careful cost management have increased cashflows, enabling development in our producing asset, and release of capital which can be invested into the business to support business growth, maximising value for shareholders.
Gross profit of US $0.4 million (H1 2020: loss of US$ 1.6 million).
· Revenue increase of 5% to US $5.9 million in H1 2021 (H1 2020: US $5.6 million)
All good news though not blistering, headed on right direction.
· Reduction in cost of sales of 33% in H1 2021 compared to equivalent period in H1 2020
Always struggled to understand the purpose of trolls such as ranger104uk there. Seems to be one on all boards telling others they are holding a losing stock, insult others and keep trolling day in day out then vanish as soon as it finally reverts.
I pity him and the likes of him, what a sad existence.
Surely just a fist of fate echo has to get at least one thing right and the share price goes up
It’s got to be hard work getting every thing wrong
I do live in hope and have been averaging down for the last couple of years
Echo what a nightmare , with gas prices so high can we not go back to that 800 meter column of coal
The news is I'm nothing but to you I take up your time.
an RNS is always due as soon as the least is released...
Fools or clowns you seem happy to converse with either but still you are out of pocket with regards this share.
What I believe or think will not change that you are stuck with this share.
Good news is we must be due an RNS, must be imminent.
(When you engage with people on these boards you expect a degree of common sense and at least some intelligence, guess that's not always the case) ranger did you mutter something ?
abz
Echo tells the world diddly squat. we have to figure out the blanks or pages of them.
The savings do not include the running and repair costs for these pre-owned bits of kit.
We know that there was a gas compressor within the field that went off line for some time (several days). Echo posted on twitted a photo of and old bit of kit covered in paint hinting at a refurb.
Now I know nothing as Abz likes to point out. But as is Echo's sp was/is on it's bones of it's ahole I would put a spin on it too.
Someone please remind AR that Petrol doesn't come out of the ground and echo is a gas dominant extractor and not a refiner of petrol. God I sound like Tom Hanks
Woodrow, what ranger thinks and what ranger knows are two very different things.
It's become quite obvious he doesn't know that much.
woodrow
I believe the ($100,000) savings would be after the 36 monthly payments have been made. So the current repayments less the previous lease agreement payments would be more accurate i would think
Diggitt
It would help if some of the gents on the opposite bench would hold some of their believers feet against the fire when the spout rubbish like no Debt until 2025 there is clearly a large sum being mentioned $2.2m (gross) that is being paid off at the moment.
you never see these guys being corrected their chums.
So figures I used are correct as gross figures. and there is an assumption that the nett to Echo is 70%
It does highlight some of the running costs that are in place.
The only thing LSE asks is "are you a private investor"? and my answer is yes.
remember folks this will make $12m a year at worst. the normal expected revenue would be $20m. more petrol will push this easily to $25m year revenue. The actual costs are no where close to these figure.
the residents traders are keen to get good price to bay back before the six months figures.
sp is not going to drop folks, get your cash ready and join the party before you miss the train.
You missed out that the $100,000 is a gross figure. (No idea of the gross net split on lease agreements)
It doesn't mention when this saving will take effect.
I would suspect that the saving would be after the 36th monthly payment.
Do we know who the owner was that we had a lease agreement with? Was it a company within the Santa Cruz join partnership? is the 70 / 30% split correct for the lease?
Ranger....you're heading back to the naughty step. You do have levels of sense at times, but you are fundamentally focussed on deramping a share you have no interest in. Apparently. Every village seems to have one...or at least every bridge has one living underneath it. I don't mind sensible reality checks, but you have an inordinate amount of time and effort simply sitting here trying to rattle cages. To what end? You are the most frequent poster on this board it seems - for a company you're not invested in.
Yes I am aware of that RNS which states gross cost 2.2 million and echo will pay 70% of that which equates to their
Share, but you missed out the bit that says the purchase will save 100,000 dollars a month, just another example of your selective posts.
Amazing how much concern you have for echo investors when you yourself are not an investor.
Ranger,
While you are correct about monthly costs you forgot to mention it is a saving on the previous lease arrangement .Why let facts get in the way of the negative slant you require.
Jings it's like having a dog and barking yourself.
9th Sept 2020 RNS you'll find what you want. you'll find a link to the RNS at the top of this page
I avoided nothing, it was I that asked you to give a link to where you get your figures from, as that link has not been forthcoming I assume these are more made up figures much like your conspiracy theory that echo are salting cash away via another company, you seriously need help.
abz
Those who wish to appear wise among fools, Among the wise seem foolish.
I see you avoid answering enlightening me of fictional posts!
Seems like we have picked up another clown but at least he knows he is not well
I would rather loose all my money and see this company bankrupt
This is just a lifestyle company and we have been played for years
we share holders are being screw!d
Pushing the debt down the road till 2025 that’s his half a million secured for a few years
Will we share holders ever see are money back the way echo communicate I don’t think so
MH salary should be reduced and pay him a bonus when he starts to prove he is actually at work doing something ,Interviews Rns
Pay something back to us long suffering share holders
Surely the sp speaks for itself 27p down to .58 in four years
They only need to make enough to pay there wages
They don’t give a rats ass about share holders
£1 party haha , coal juice , I am sure in these high price times if they tried a little bit harder the sp would move
But no one believes there bulls—t lies lies lies lies
abz
The thing that Echo is good at is using both gross and net figures within the same release both in RNS form and for Video interviews, The figure for YTD and year End can seem mixed into the same conversation or release also.
Who owns what and who pays for what within the Santa Cruz Joint Venture is very much a village pond IMO Assets can be quickly and easily transferred and sold withing the partners with stock holders being unsure what fixed assets are theirs. very easy done. Easy to transfer monies and alter company books. Who own the Work over Rig Eagle?
Easy to say Echo if it belongs to the Santa Cruz Joint Venture as Echo is part of that group.
We see what we want to see
Guys
If you think what I post is a false post please back this up with facts and stick to the point you want to challenge and post a correct and coherent reply.