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IN BRIEF: Echo Energy Completes Initial Assessment Of Monte Aymond

Tue, 29th Sep 2020 18:08

Echo Energy PLC - Latin American-focused upstream oil and gas firm - Completes initial assessment of the Monte Aymond gas project in Santa Cruz Sur, Argentina. The project involves working over the Monte Aymond well which was drilled successfully in 1984. The well successfully discovered and tested gas and condensate at an initial flowrate of 2.4 million standard cubic feet per day, and subsequently at an average rate of 5 million standard cubic feet over a longer 10 month period of production. "Whilst this well was previously abandoned, the company believes that the now improved local infrasucture and prevailing gas prices mean Monte Aymond is now an exciting commercial project," says Echo.

Current stock price: 0.385 pence

Year-to-date change: down 83%

By Lucy Heming;Â lucyheming@alliancenews.com

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29 Jan 2024 21:25

IN BRIEF: Echo Energy raises GBP250,000 via subscription of new shares

Echo Energy PLC - Latin America-focused exploration company - Raises GBP250,000 via direct subscription of 5.6 million new shares at a price of 0.0045 pence each. Also announces the issue of 363.6 million warrants to the arranger of the subscription, exercisable at a strike price of 0.008 pence and expiring on January 29, 2029. Admission of new shares for trading on AIM is expected on Thursday this week.

19 Dec 2023 17:52

IN BRIEF: Echo Energy extends GBP1.0 million loan to 2025, cuts interest

Echo Energy PLC - Latin America-focused exploration company - Restructures GBP1.0 million loan originally provided to company in March 2017. Extends loan to November 30, 2025 with current principal and accrued interest to date has been reduced by 10%. As a result, the total amount outstanding as at November 30 stands at GBP898,028, with a new annual lower interest rate of 2% agreed, which will be rolled up and paid at maturity. Says the purpose to the restructuring was to extend the term whilst also reducing the overall level of debt and preserving cash balances by avoiding further interest payments. Agrees to pay a GBP15,000 fee to the lender. Chief Executive Officer Stephen Birrell says: "I am delighted with the support shown by our lender, the Spartan Fund Limited SAC. Echo is full steam ahead originating and negotiating multiple business development opportunities and we look forward to updating investors in due course."

14 Nov 2023 13:56

IN BRIEF: Echo Energy hires new CEO as director promoted to chair

Echo Energy PLC - Latin America-focused exploration company - Hires "highly experienced geoscientist" Stephen Birrell as new chief executive officer, effective immediately. Birrell is currently a non-executive director at Coro Energy PLC and Live Co Group PLC, and managing director at Ossian Energy Ltd. He served as a non-executive director at Ascent Resources PLC from 2020 to October this year. Echo's current CEO Martin Hull steps down to become a non-executive director, as does Non-Executive Chair James Parsons. Company promotes Christian Yates, another non-executive director, to chair with immediate effect. Yates says Birrell "brings a wealth of technical and commercial experience...we look forward to leveraging his experience as we look to deliver our strategy."

2 Oct 2023 21:32

IN BRIEF: Echo Energy reports pretax losses in double results update

Echo Energy PLC - Latin America-focused exploration company - On Friday, reports results for 2022. Revenue totals USD86, down sharply from USD23,318 the year before. Pretax loss widens to USD4.3 million from USD1.9 million. Basic loss per share was 0.27 US cents compared to 0.15 cents before. Sees significant opportunities at this point in the economic cycle to secure new energy assets at attractive valuations and is currently exploring a number of these opportunities.

2 Oct 2023 20:41

EARNINGS AND TRADING: Clean Invest reports interim loss and no revenue

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31 Jul 2023 21:59

TRADING UPDATES: Barryroe hires examiner in bid to avoid liquidation

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

29 Jun 2023 21:38

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

27 Jun 2023 17:26

IN BRIEF: Echo Energy seals sale of most of Santa Cruz Sur stake

Echo Energy PLC - Latin America-focused energy company - Completes deal to sell 65% of the company's 70% working interest in Santa Cruz Sur for GBP1.7 million to Selva Maria Oil SA and Interoil Exploration & Production ASA. Deal had been announced in May. The sale is intended to provide near-term funding to cope with current challenges, it said at the time.

26 May 2023 12:22

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Echo Energy Share News (ECHO)

Share Price Information for Echo Energy (ECHO)

IN BRIEF: Echo Energy Completes Initial Assessment Of Monte Aymond

TRADING UPDATES: Nexxen expands partnership; Geiger considers listing

IN BRIEF: Echo Energy raises GBP250,000 via subscription of new shares

IN BRIEF: Echo Energy extends GBP1.0 million loan to 2025, cuts interest

IN BRIEF: Echo Energy hires new CEO as director promoted to chair

IN BRIEF: Echo Energy reports pretax losses in double results update

EARNINGS AND TRADING: Clean Invest reports interim loss and no revenue

TRADING UPDATES: Barryroe hires examiner in bid to avoid liquidation

TRADING UPDATES: Atlantic Lithium confident after Ewoyaa study

IN BRIEF: Echo Energy seals sale of most of Santa Cruz Sur stake

Echo Energy to sell 65% interest in Argentine Santa Cruz Sur assets

Echo Energy to partially sell Argentina-based Santa Cruz Sur assets

AIM WINNERS & LOSERS: Capital Metals signs MoU; Echo Energy sells

LONDON MARKET OPEN: Stocks down; JD Sports buys in Europe

AIM WINNERS & LOSERS: Echo Energy production falls and cash runs short

Echo Energy sees fall in quarterly oil & gas production in Argentina

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Echo Energy Share News (ECHO)

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IN BRIEF: Echo Energy Completes Initial Assessment Of Monte Aymond

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