Would agree not the greatest year but looking on the bright side it could have been much worse, after FM tenureship we were left at the side of the road for dead, we are breathing life again, buying into Santa Cruz was a master stroke, the workovers are delivering and more of those to come, campo limite (fingers crossed) looks like it might play a very big part here and increased prices for gas, as for TA we need to see what this long awaited goliath might provide.
Partridge, seems you are wrong once again, the extract from the RNS below says it all, we have been selling gas at preferential rates for some months now, looks like todays RNS is just confirmation these preferential prices will continue for another 6 months.
15th April RNS: Additionally, the Company and its partners are pleased to confirm an agreement to extend an existing gas contract, for further two months until 30 June 2020, with a key customer covering a peak volume in June 2020 of 4.77 mmscfd. The extension secures advantageous pricing of US$ 4.2 per mmbtu
Agreed everything lining up, assuming campo limite does end up being the commercial well we all want, it was mentioned somewhere it was an easy tie in to the Chilean pipeline, given Argentina preferential rate for gas i wonder if echo might consider keeping any gas production from campo limite well in country, i know i am counting chickens before they hatch but i really do feel confident about this well.
Never thought this was on the cards, at todays prices it would be pointless, i did say yesterday it might be a possibility if and when good news is released for campo limite well and news we intend drilling more wells in PA, i doubt it would happen even then, MH has been keen on protecting share holder value and "should" campo limite turns out to be "very" commercial and more holes were to be poked in the campo limite area there may well be other options for finance. Just a case of waiting for results.
Given how MH has handled things to date and his attempt at keeping value for share holders i would think this as likely as finding a red herring in the bush. Might be a possibility if and when good news is released for campo limite well and news we intend drilling more wells in PA. Just my thoughts.