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Pin to quick picksEcho Energy Share News (ECHO)

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EARNINGS SUMMARY: Echo Energy, Enwell Energy, Sivota revenue rises

Fri, 30th Sep 2022 22:02

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Sivota PLC - investment vehicle focused on later-stage, Israeli technology firms - Pretax loss widens to GBP1.8 million in the first half of 2022 from GBP62,000 a year before, as administrative expenses jump to GBP1.1 million from GBP65,000. Records revenue of GBP1.1 million, up from nothing. Attributes revenue to the acquisition of Apester.

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Ariana Resources PLC - exploration firm with interests in Turkey, Cyprus and Kosovo - For the first half of 2022, pretax profit falls to GBP2.9 million from GBP7.1 million. Attributes this to a profit on restructuring in the prior period of GBP6.4 million. "We look forward to providing further updates from our exciting pipeline of projects and investments, representing a full spectrum of opportunities across commodities and jurisdictions, yet maintaining a continued focus on advanced projects in gold and copper, particularly in south-eastern Europe," Managing Director Kerim Sener comments.

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Tower Resources PLC - Africa-focused oil and gas company - Pretax loss for the first half of 2022 widens to USD522,127 from USD39,458 a year before. Records no revenue, unchanged from a year before. Total administrative expenses swing to a loss of USD520,416 from a profit of USD90,449. "We are continuing to make progress in Cameroon and Namibia; and despite the legal issues Shell has faced in South Africa we are confident that we can still move forward there, albeit with caution. We want to drill as soon as we can in Cameroon in particular, and this continues to be our immediate priority," Chair and Chief Executive Jeremy Asher states.

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Crystal Amber Fund Ltd - Guernsey-registered fund - Net asset value per share stands at 145.03 pence at 30 June, up versus 143.19 pence as at December 31, 2021. Records a total NAV return of 8%. Explains that it continued to optimise outcomes for its portfolio companies.

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Enwell Energy PLC - London-based oil and gas company - Pretax profit in the half-year to June 30 soars to USD48.9 million from USD18.1 million Revenue jumps to USD77.2 million versus USD41.1 million. Credits this to "significantly" higher gas prices offset by lower production volumes. Cautions about the impact of the conflict in Ukraine on its business.

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Echo Energy PLC - London-based energy company focused on Latin America - Pretax loss in the first half widens to USD2.0 million from USD1.3 million. Cost of sales rises to USD7.3 million from USD5.5 million. Exploration expenses grow to USD143,545 from USD45,807. Revenue increases 6% to USD6.2 million from USD5.9 million, as production over the period has continued to remain strong. Secures new gas contracts for 2022-2023 significantly above the 2021 annual pricing.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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13 Aug 2018 10:00

Echo Energy Encounters Problems During Argentina Well Testing

LONDON (Alliance News) - Oil and gas firm Echo Energy PLC on Monday said it encountered difficulties isolating gas zones during recent testing of its ELM-1004 well.During the work on its C

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9 Jul 2018 12:34

Echo Energy Interprets Gas Column At Fraccion D Well In Argentina

LONDON (Alliance News) - Echo Energy PLC said Monday it has completed drilling at its Fraccion D licence in Argentina where a "notable gas column" was interpreted.The CSo-2001(d)

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6 Jul 2018 09:57

Echo Energy To Start Moving Testing Rig In Argentina Next Week

LONDON (Alliance News) - Echo Energy PLC on Friday said it will move a testing and completion rig to some of its Argentinian assets in the week starting Monday.Echo will be moving the 01 to

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3 Jul 2018 11:19

Echo Energy Starts Drilling Final Well In Fraccion D Programme

LONDON (Alliance News) - Latin America-focused upstream oil & gas company Echo Energy PLC said on Tuesday it has started drilling the final well in the four well back-to-back campaign in its D

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21 Jun 2018 09:48

Echo Energy Reviewing Work Programme Following Possible Discovery

LONDON (Alliance News) - Echo Energy PLC on Thursday said it has found a "significant" column of light oil on one of its wells in Argentina.Shares in Echo were 19% higher on at at

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15 Jun 2018 11:44

Echo Energy Accelerates Drilling Of Gas Area Fraccion D In Argentina

LONDON (Alliance News) - Latin America-focused upstream oil and gas company Echo Energy PLC said on Friday it will substitute the fourth and final well in the current exploration programme across

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11 Jun 2018 13:15

Echo Energy Sees Positive Test Results From CSo-85 Well In Argentina

LONDON (Alliance News) - Echo Energy PLC on Monday reported positive results following the extended CSo-85 well testing, located in Fraccion D asset, in the mature Canadon Salto field in Fraccion

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29 May 2018 11:50

Echo Energy Starts Drilling Of Second Exploration Well In Argentina

LONDON (Alliance News) - Latin America-focused Echo Energy PLC on Tuesday said it begun drilling of the second exploration well in a four well back-to-back campaign at Laguna de Los Capones asset

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25 May 2018 16:37

DIRECTOR DEALINGS: Echo Energy Chief Executive Officer Buys Shares

LONDON (Alliance News) - Echo Energy PLC said Chief Executive Officer Fiona Margaret Barkham purchased 83,333 shares at a price of 12.00 pence per share on Friday.It has not been disclosed

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25 May 2018 11:22

Echo Energy To Raise GBP8.5 Million Through Discounted Share Issue (ALLISS)

LONDON (Alliance News) - Echo Energy PLC said on Friday it intends to raise GBP8.5 million through a placing and subscription of 71.2 million shares at a price of 12.0 pence per share.The a

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25 May 2018 10:52

WINNERS & LOSERS SUMMARY: Pennon Flows Smoothly On Strong Performance

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------United up for

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18 May 2018 10:32

WINNERS & LOSERS SUMMARY: Retailer Carpetright Rises On Fundraising

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------DS up 2.1%. to

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18 May 2018 10:06

Echo Energy Discovers Gas After Drilling ELM-1004 Well In Argentina

LONDON (Alliance News) - Latin America-focused Echo Energy PLC on Friday said it has made a gas discovery on the first well in a four-well drilling programme in Argentina.Shares in Echo up

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9 May 2018 13:12

Echo Energy Spuds First Fraccion D Well In Four Well Project

LONDON (Alliance News) - Oil and gas firm Echo Energy PLC on Wednesday said it has started drilling the first of four wells on its Fraccion D asset onshore Argentina.The well, ELM-1004, was

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23 Apr 2018 13:43

Echo Energy Discovers Oil Following Second Well Workover

LONDON (Alliance News) - Latin America-focused oil and gas company Echo Energy PLC said Monday that it has completed the second workover of the well workover campaign on its Fraccion D asset, has

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