Member Info for abzzba

Util, absolutely no reason for me to think I am wrong about echo, our time will come, as I have said many times it's just a waiting game, I do admit to being disappointed in how long it's taking.
I am back in UK a week on Saturday, normal service will resume !!

Patience is a virtue and certainly needed if you are invested in Echo.
I also do not understand why we have not jumped onto a few of these workovers, the three best payback workovers are also the least expensive to complete.
At the start of the year I said I would give Echo 6 months, they have around 6 weeks to deliver.

Not sure a rig is required to put Heron into production, read the RNS.

https://www.lse.co.uk/rns/MATD/results-of-testing-at-heron-1-r3vjzz41t827mnx.html

Let's hope that now these surface works are completed we now have the infrastructure to cope with increased production from these very long overdue workovers, many are saying we have been waiting on these for a year, in fact it's almost 2 years, ref RNS June 8th 2020.
ECHO, get your finger out !!

Our junior partner Interoil have released April production figures, Santa Cruz down due to surface work that has now been completed, expect back to normal next month.
Link below.

https://www.interoil.no/?page_id=13&year=2022&PressReleaseID=2752843

Tend to agree with both posts below, onwards and upwards, as always it's just s waiting game.

The solar project fund raise easily covers the cost of the three best workover opportunities and if these return the estimated figures detailed in the tier 1 doc they would increase our turnover around 40% .
With the new gas pricing 2022 turnover should be around 20 million for the year excluding these workovers.

Chadster, wish you were right but I think last year's revenue's will be closer to 13 million, Campo molino wells just came back into production August / September.
However this year's turnover should be close to 20 million and maybe even more if they got their fingers out and got on with a few of the workovers.

Ragnar, your not missing anything, punters selling and taking a 50 % profit, wait until afternoon, blue day ahead once buying starts.

Never understood why people wait for the good news to drop, they just end up buying in at a higher price, heyho, strange strategy

Certainly headed in the right direction, final results imminent, just a waiting game, it's the end game that counts.

Interesting week ahead, may well have final results and an update on gas sales, either new contract or spot price but either way it must be communicated to shareholders.
If we could also hear about a few workovers we may just fly.

This was always going to be a long term bet, question is, if I win will it be me or my executor's that get the pay out.

Land, LNG price through roof hence Argentina after every cubic foot has they can find, happy days, echo 70 % of production is gas.

Because no new contract, spot price less a discount, still will be around twice what we currently sell at

Tombi, I tend to agree, no contact, spot less a discount but certainly at least double our current contract price. Best thing is that due to Argentina huge dependency on imported LNG and the fact LNG prices are through the roof we should have no shortage of buyers.

Interoil our junior partner released a "statement of reserves" this morning, p30 is the start of the report relating to Santa Cruz, anyone reading should remember Interoil hold only 8.4% stake in Santa Cruz.
Happy reading at the link below though you need to open the attachment, second link.

https://www.interoil.no/?page_id=13&year=2022&PressReleaseID=2736218

https://ml-eu.globenewswire.com/Resource/Download/53d3e7e2-6adf-4e69-a3c6-32791d0735eb

7th March we opened at 0.365, 6 weeks laters we are at 0.56 that's a 53% increase, pretty good but small fry compared to what's to come.
GLA.

Argentina need all the gas they can lay hands on.

https://www.reuters.com/markets/europe/ukraine-crisis-could-hit-argentina-lng-imports-double-energy-deficit-2022-02-25/

Echo bought Santa Cruz from Phoenix, Santa Cruz includes many mature oil fields, some as old as 40 years, older than some of the Investors on here, basically echo bought a "project", we are now engaged in upgrading these old fields and the infrastructure that supports them, as we do we we benefit from producing more oil and gas.
Phoenix also identified several potential areas for drilling new wells, this is reported in depth.
Also CGC bought out sinopecs Santa Cruz interests a few years ago as they see Santa Cruz Sur has untapped potential, see below link.

https://www.bloomberg.com/news/articles/2021-06-30/billionaire-eurnekian-s-cgc-buys-sinopec-assets-in-argentina

As I have said numerous times, it's simply a waiting game here, let echo return these old wells to full production, wait for the workovers and Campo Limite etc etc, give echo that time and we will see huge increase in the sp.