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ranger, i do not disagree with your uncles advise but oil, and especially gas has a big part to play for at least a decade or two more, work wise i retired 20 months ago after 40 plus years in the industry, that said i did take a few months work in Bulgaria then Ghana and no doubt there will be other offers of work, i guess what i am trying to say is there is plenty of time for echo sp to recover and for investors to get our money back and i see campo limite as the first step in echo climbing out of the hole they are in, all the signs "seem" positive, god forbid i am wrong and the truth is closer to WTs thoughts.
Abzzba
I asked my Uncle at an early age what trade I should choose? (he was a senior naval aviator) He said the next future tech. Electronics and computing were in their early years, he was meaning what comes next.
Oil and Gas are so distant not just as steam and coal. We are the mud larks of our time
Soon we will be getting more for detergents than we do for Oil.
Hydrogen the perfect gas, squashed by the oil giants for my life time
ranger.
life goes on, i dont much care about covid (aka flu) but thats another story, lets just say if i were calling the shots everyone would be at work , markets crash, its what happens, for me Donald the great is guaranteed a second term and as for holding i am quite prepared to hold for years if required.
As for Musk not sure what he is on other than an ego trip but i dont see much point being one of the two hundred on a magical mystery tour to destination unknown.
Trellis, my point exactly, no point selling at these levels, best we can do is average down (done) and say a wee prayer.
Abzzba
The world 2nd spike in Covid is here, within the next 2 weeks the markets will crash again.
Russia is having to stoke fires around the world to keep the oil price up to balance the books and feed their rich, while across the pond.. Morethan Freeman is 5 points ahead of both Trump and Bygone in the election.
Musk has the answer build a rocket and leave the planet pity hes only taking 200 with him
Much better to sit it out and get your investment back rather than lose 95%, as for becoming a dull share i can live without the excitement of "transformational" discoveries.
I would not say I am a great supporter anymore but live in hope I get close to my investment back, but that does seem far away.
Do I sit it out or sell and move on, that is a question many ask themselves on here. This is now a very dull share and if it wasn't for the Santa Cruz asset we would be gone, reminiscent of the Greg Coleman days of leadership now.
Did MH write this on the tube on the way into the office?
If any of my team handed me that as a half year report I wouldn't be overly impressed.
My wife writes me better lists before she goes out for the day.
I agree with what you say abzzba, in our current position growth is what we need. It would be interesting to know what the current state is today, ie the end of Q3 not H1. We are not privy to that data.
Mcap very frustrating when you look at revenue (which seems quite low considering boe stated), but then we do have debt hanging around our next.
The market not swinging either way, I doubt we will see any thing half decent until 2021 now, back draw stuff now..
I am happy enough being a production company rather than throwing money down the pan with long shot and expensive low COS explorarions, to drill the hole in Bolivia would have cost 150 million dollars, if either Repsol or Shell had come up trumps we might have found a partner willing to bank roll this but both Repsol and Shell lucked out so our plot inbeteen them is hardly prime realestate.
As for TA the drill costs were also high even with our 19% contribution, if memory serves i think it worked out around 1.8 million a hole.
Much better we use our own rig on Santa Crux assets where we get 70% and costs are low, as yet we do not know for sure about campo limite but it appears we have a commercial well, add to this the Monte Aymond well a few km away which can be brought back into production for minimal costs, this seems like a pretty good plan to add value at minimal cost outlay. Steady as she goes suits me, leave the high roller last throw of the dice to others.
Many of us invested substantial sums of money with TA forever thrust as the big prize, it kind of seems it has been taking away for now, very very very frustrating....PI always the ones who get the bad end of the stick.....
“Successful restructuring of Tapi Aike interest in July 2020 line with the company’s focus within its portfolio on cash generative production and on reducing costs”.
In case you missed it earlier in the year we are now a production company looking at projects that are in line with a gas production company’s growth model! No longer a exploration company with any real potential for share holders. Oh how I feel let down by MH and his poor decisions. Really thought we had potential :(