Member Info for abzzba

And on the bright side we have clowns like Hamm to keep us amused as we wait.

On the other hand no sells, just a waiting game as far as i can see.

Just looked in to see if anything was happening with my long shot, will look back later, maybe next year !!!

ranger, its you that needs to get facts correct, just yesterday you said "Wasn't that long ago that some muppet's in here where shouting that Echo had it's own work over rig? What tosh ".
You appear to be in denial that ECHO and partners own thier own rig, page 14 of the latest presentation states "US$ 0.2 mln (gross) for rig upgrades to JV-owned rig", hopefully clear enough for you.

ranger, thats a bit rich coming from you, you have been stalking this board for years even though you have self confessed to owning not one share in echo.

Q3 2022 Investor Presentation:
https://www.echoenergyplc.com/investors/results-reports-and-presentations/

Or direct link below:
https://www.echoenergyplc.com/media/1543/2022-08_investor_presentation_web.pdf

add another 3 million buy, keep them coming.

NY, thanks.
Good ship ECHO about to break its debt anchor.

maidit308, agreed, i had expected fireworks today, either implosion or explosion but it turned out just another day (apart from the 100 million late trade) basically we lost the 5% gain we made Friday, ECHO must get their finger out and start uping production whether by means of surface upgrades or workovers i dont care, just get work done that results in more production.

Seems we have upped gear.

I would have to agree that when we have had a reasonable RNS the sp tends to slide however Fridays RNS might just be the game changer, yes we will end up heavily diluted but without the huge weight of debt around our neck and the debt we do have will be pushed back to 2032, very manageable timescales, i believe its been the debt that has dragged us to the bottom, good to see the management being proactive and addresing this debt.
Also good to see Lombard are accepting sp of .45p, obviously they did not read rangers post.
Remember its the end result that counts.

your not tonto in disguise are you ?, its just we have another selfless non shareholder that tries to save us from ourselves, bit like the Jehovah that come door knocking.

gregp, are you a genuine ECHO investor or just jumping on this to push GENL, will let other decide for themselves.
Anyhow i am looking forward to Monday to see how the markets react to this news.

gregp, you are half right, we deliberatly have not done CL but not for the reason you suggest.
It has not been completed as there was a clause in the sale of Santa Cruz that Phoenix woud pay the costs of drilling CL but we had to repay back to them once completed 60% of the costs upto a maximum of 1.1 million, quite simply CL has not been completed as we do not have that 1.1 million.
See 02 Dec 2019 RNS link below which explains.
https://www.lse.co.uk/rns/ECHO/santa-cruz-sur-operational-update-qgogdcq6ronz69a.html

I think most investors realise we could never pay back the huge debts we had by 2025, this restructure reduces debt dramatically to a manageable figure and extends the payback time to 2032, its a win win situation debt wise, agreed it means huge dilution, but as the RNS says the balance sheet will look a whole lot better every year and that will be reflected in the sp.
Add to this the fact we are increasing production by some 40% at a time when we are selling our oil and gas at high prices all bodes well.
Add to that the fact we have god knows how many wells that would produces vastly more oil and gas if worked over its all good news, maybe not so good for investors that bought more shares than they can afford and had hoped for a quick profit but thats the throw of the dice and a risk gamblers take, one thing MH is not is a gambler, slow and steady.

One thing for sure, Monday will be interesting, have a good weekend (Guffaw)

Fact, its the debt that has been holding us back, with this we have less debt but more shares but the debt we are left with is pushed back to 2032, its not rocket science.

If they can pull it off then great, secures our future though no doubt many will complain of more dilution, heyho.

If it gets to 4.1p i think many will be selling up, me included..

nice find

ranger, please, feel free to post your CV, i am sure many users of this site would love to know what experience you have of the oil industry (if any), i look forward to reading that myself, it will certainly make a change from the incessant drivel you post day in day out.