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 Quintana 01 rig to its Fraccion C, Fraccion D, and LLC assets, which are onshore Argentina.
It expects mobilisation to take five days with the rig going to the ELM-1004 well first, which was suspended for testing in May. Testing should take two to three weeks, and then the rig will move onto the next well in the four well programme.
Echo has not decided in which order to test the wells.
The company is also, it said, considering a number of further well interventions and workovers at both the Estancia La Maggie and Fraccion D prospects, the first of which is on Fraccion C.
Shares were 0.6% lower on Friday at a price of 17.60 pence each.
Echo Energy (ECHO)