Member Info for abzzba

ranger, are you sure you can read, it says they are replacing the compressors gas fuelled engine with an electrical one, you might remember a previous RNS that said we were changing over to gas generators to supply the electricity, no where does it say the compressor has broken down, just for you i will make it REAL SIMPLE, due to the generators now being insitu we can now use electric to power the compressor.

If you guys tried reading you would see the decrease is explained quite clearly.
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In Argentina, a slight decrease in production rate was recorded in the Santa Cruz fields where the Oceano Field accounted for most of it. This is due to an ongoing gas compressor enhancement project which involves replacing its gas fuelled engine with an electrical one, and which means that Interoil will benefit from connecting to a new power generation unit already working in the Oceano Field. This field work is expected to last to the last week of September.
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I would doubt the equipment would have been mobilised unless we were sure it was needed.

https://www.interoil.no/?page_id=13&year=2022&PressReleaseID=2830995

Last years were results were as expected, fact is Argentina was still in lockdown in the early part of 2021 then in April, May and June we were upgrading a water pipeline, this resulted in a production loss during these months (ref RNS: 21st June 21).
Also our 2021 gas price contract never kicked in until May 21 so we had only 7 months at last years higher gas prices.
This years figures should be a lot better, we get at least half our oil from Campo Molino wells, these were only re-opened in August and October last year (ref RNS: 26th August 21 and 5th Oct 21), so this year we will have a full 12 months production to count from Campo Molino.
Add to that the 53% increase in gas production from Oceano wells (ref RNS: 30th May 22), we also need to remember we have a new higher gas price contract that kicked in May 22, to summarise for 2022 we have way more production and higher gas and oil prices, rough estimate for this years turn over would be 15 million plus.
Currently we are opening up 30 wells though I think the likely hood of all these being open by year end is a big ask but some will be opened and adding to this years production figures. ECHO expect a 40% increase in production once all 30 wells are re-opened, this bodes well for next year and 2023 turn over should easily exceed 20 million and we still have the tier 1 doc workovers to get our teeth into over and above this, 2023 will be our year.
I realise many are real pixxed off with the company and its failure to deliver but this bond / debt re-structure will have a huge impact as it will give us cash flow and working capital, yes it means billions of shares but shares in a company with increasing production and manageable debt that has been extended to 2032.

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.

Would rather he pulled some oil out of the ground !!!

As MH has stated the debt for shares re-structure will totally transform the balance sheet. And as tombi says below this relates to last year and is well out of date,

Drago, lets hope your right though this was always a long term punt for myself,

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.

m308, i would be very happy with 2p.

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.

paid not payed, I don't think you meant to say that?

m308, from this price surely it can only be good news to come, now wondering if the 50 million yesterday might have been a buy ifso they got in at a great price.

LO maybe, who knows

Think we can expect another RNS very soon saying bondholder vote scheduled before the end of Sept, they must give 3 weeks notice.

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.