Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
goza, the market cares about every share it can make a buck from, not a lot i can say about your investments but i can say for sure that in life there are winners and losers, you have obviously already taken your position, good luck for the future, sounds like you need it.
m308, agreed, the market have digested the results, sp holding steady "just", everyone including the market awaiting the first of many good news RNSs that should start appearing any day now as we get into opening up these previously shut in wells.
Results as expected, no better, no worse, they relate to last year, Argentina lockdown still in place plus upgrades to water pipeline works taking place April, May and into June, not sure anyone expected more.
If we pull off the 40% increase in production this years results will be much better, and next years results will be blistering.
As much as i hate having to wait, it looks like next year will be ECHOs year.
m308, sure you are right, MH will have already discussed this and be very reasonably sure this will be agreed by the required majority of noteholder, looks like we will be left with 10 million euro debt to the noteholders payable by 2032.
Guess we must wait on the resident derampers jumping on this and telling us we are doomed. Happy days.
maidit308, several huge positives here.
1: we exchange most of our debt for shares at 0.45p.
2: the debt that remains we extend the payback time to 2032 thus easing cash flow which gives us the working capital for projects such as workovers, completion of CL, Monte Aymond and possibly even new exploration wells, Phoenix identified several exploration areas which have got to be worth a look once we have the money to spend.
3: The market will look at ECHO in a new light with the reduced debt.
4: Increased production, some 40% this year from the enhancement plan which includes opening up 30 previously closed in wells.
5: We still have all the workovers from the tier 1 doc to work on, increased revenue and less outgoings we can jump on these workovers once the enhancement plan is completed.
Agreed we have to wait and no one likes waiting but guess its a fact of life, from our current level we have a multi bagger for sure.
Another week closer to completing these upgrades and opening the previously shut in wells, despite the dire warnings from our resident derampers the sp continues to hold its own, as each of these 30 wells comes back onstream increasing production we can look forward to an increase in the sp.
dt, if you cannot figure out why the debt restructure is important and might be the reason behind the delayed accounts might i suggest you start your research again as you have obviously misread or missed the fundamentals affecting this company.
Many including myself see it recovering after these 30 wells are re-opened and the debt is restructured, we also have a load of workovers waiting to be completed, then there are a few that think the company will not recover, best you do your own work on this one.
m308, yes i agree, it certainly seems like we are back on track, turned the corner and headed in the right direction now, its been a while coming so regular updates, regular blue days and sp increase will be all the more welcome.