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I found the investor Q&A relatively encouraging.
A number if the questions WT raised where brought up and answered quite well. I managed to ask a question. it eventually got answered but took some time,I guess there was a waiting list.
P Aike testing has started and on schedule so hopefully we will here on that soon.
eastern cube drill not totally dead, as a number of other intervals combined could provide commerciality . decision to spend more on testing in order to potentially achieve commerciality being assessed. western cube delayed till H2 as more technical work needs to be done to establish best possible well locations.
investor presentation apparently up on site, although I have yet to review.
agree marky !
wasted exploration last year ! should of gone to TA only after seismic , total waste of money !
Why do they use the term, “increase share holder value”! I’ve seen nothing but the opposite for well over a year! Are they taking the P**s! Someone unloading today
The questions that I submitted to Sarah were:-
Why have the shareholders NOT BEEN ADVISED of “targeted volumes of hydrocarbons” on CLix – 1001,the Capo Limite well.
Why was the top of the Springhill, not where predicted on the Palermo Aike well?
What difference does the position of the top of the Springhill make to the interpretation of the Palermo Aike licence?
Was the seismic associated with this well inaccurate, and if not why not?
Does the position of the top of the Springhill in the Capo Limite well have implications for the rest of the licence?
Is the Petreven 205 drilling rig on its way to drill our first well in Western Tapi Aike or have CGC other plans for it?
We had a quote from Echo saying that “We hope to have a revised and updated investor presentation available in due course.” Wouldn’t it have been better to say “We WILL publish a revised and updated investor presentation in the NEXT MONTH/SOON. Why the obfuscation, you are the executive team and I expect positive descriptors rather than vague expressions that are employed that mean very little or nothing!!
Many investors are concerned regarding the drain on the Echo bottom line (Santa Cruz assets income) by the high salaries of Mr Parsons and his friends. Also, a raft of share options for what, we do not know? Echo is having a tough time at the moment, so might these salaries be substantially curbed for the moment until we are able to afford them – if we ever can? And currently, what is the total ECHO salary bill, including those paid to executives? An approximation will do!
What is now, the after-tax income that Echo will derive from Santa Cruz production, as our 70% share? What might it be after a round of prudent cost cutting?
CLix -1001 will shortly undergo, a simple inflow test. Why not go to fracturing the strata? Do we think that an inflow will produce an economic flow of hydrocarbons? If it does, will we then go to fracturing? Has a fracturing program for this well been devised? If we do one, after the inflow test; how long will mobilisation of equipment, materials and personnel take before it can begin?
Echo has drilled 6 wells so far. Has Dr Bessa been in attendance for any of these drilling operations? Has any Echo employed representative been on site for any of these drills? If not, why not?
Why have we never had any videos/photographs/blogs of these drills? They would be great PR which so far, we have been lamentably poor at doing!!
Do we KNOW, if any of the 4 wells we drilled in 2018 and handed back to CGC are now in production?
Can someone post and tell me if ALL of these questions were posted.
Were they answered?
WT
All is pure conjecture!
Only when a well is connected to and delivering to an export pipeline or flowing into a road tanker, it is just words.
We had a quote from Echo saying that “We hope to have a revised and updated investor presentation available in due course.” Wouldn’t it have been better to say “We WILL publish a revised and updated investor presentation in the NEXT MONTH/SOON. Why the obfuscation, you are the executive team and I expect positive descriptors rather than vague expressions that are employed that mean very little or nothing!!
WT
No worries. I seriously think Campo Limite will deliver. The COS is not bad Pmean 60 BCF with 70% recovery is great for a company with 9 Million Marketcap. This can be very significant relative to the current MCAP.
Thanks for your efforts. Much appreciated.