Member Info for abzzba

I am sure there are a few genuine investors that read this board, to them I would say let's hope the blue days continue, the last operational RNS update was in early December so we are due another anyday, once again let's hope the next RNS is good news.
As for delusional poster echo2021 hopefully he continues with his medication.

maidit308, well said though not sure LSE is the correct platform to post anything positive about echo.

Personally I think his strategy to concentrate on low cost workovers was the right thing to do, there are three low cost workovers on the tier 1 doc that would up production by 30 to 40% for minimum outlay, the real problem for me is why have we not jumped on these,

Woodrow, great find, the second link actually mentions Santa Cruz,

Echo2021, have you considered psychiatric help.

Norb, last week I posted the following.
19th April RNS states we sell oil at Brent price with local discount applied.

Plus we do not sell our oil at contracted prices, we sell at Brent spot price less a local discount.

We keep hearing that echo is a lifestyle company there to be milked by MH and others, realistically what sense does that make, the answer to that is none at all, quite obviously the better the company does the more salary and bonus can and should be awarded so to say the company is not interested in growth is ludecrous, quite simply we have little working capital and the capital we do have is being spent very cautiously, our time will come it's a case of being patient, obviously some find that difficult.

Last operational update was 9th December, another due anytime.

the recent tier 1 doc, two of the Chorrilos wells (CMo-8 and CMo-24) are expected to give an uplift of 75 to 100 bbls/d each, the projected workover costs for each of these wells is $100k to $150k.

Then we have CBr-4 gas well in the Campo Bremen field expected to give an uplift of 2 - 2.5 MMscf/d with capex between $50k - $100k, why these three wells have not been worked on i do not know, we must certainly have the cash in hand for this sort of outlay that would increase overall production by around 30 to 40%, even mid case uplift we would recoup expenditure in a month at todays oil prices.

Mcfcnige, I think most including myself had expected news by now, we have only completed one work over and the RNS for that was released on 14th October.
I understand echo are short on working capital but given we have five months production revenue since the October RNS plus the fact the latest tier 1 doc states our best three work over options each have a capex of 100 to 150k dollars I would have thought we could afford to do these by now,
Hopefully news soon.

Interpol report out.

https://www.interoil.no/?page_id=13&year=2022&PressReleaseID=2707991

New gas contract prices should be announced soon, last year we had RNSs on 24th March and 19th April, a few have mentioned contracted prices for oil, as far as I am aware we do not have contracted prices for oil, the 19th April RNS states we sell oil at Brent price with local discount applied.
Also worth remembering our production is 70% gas so higher prices will equate to a lot more profit.

https://www.foxbusiness.com/markets/oil-traders-200-per-barrel-report

ranger, well done, if you need help buying a one way ticket let me know.

Firstly might i say a message of hope for Ukraine and its people, god knows where this will lead.

util, i agree we and i especially had expected news and an improved sp by now, i still feel it will come, we have too many assets and prospects for it not to however even i have a tolerance, i might be siding with you if in 6 months we have seen nothing to bring value here. I say 6 months due to the certain fact we have been short of working capital and by saying 6 months i allow echo time to replenish our working capital by way of sales at increased prices.
For all investors sakes i hope i am right.

bobbybyrash, you beat me to it !!.
Not sure our "learned" poster actually knows what a ponzi scheme is, for those that want to learn see below link.

https://www.investopedia.com/terms/p/ponzischeme.asp

I think the theory that an oil & gas company sp will rise and fall in line with the oil price can easily be kicked into touch, simply look at a range of oil and gas companies sp histories, it simply does not happen.
Increased oil and gas prices will always benefit ECHO but in order to see a real positive move in our sp we need to prove we can pay back our debt and the only way we can do that is by increasing production, thankfully we have numerous options, we have the workovers, Campo Limite and Monte Aymond, the workovers alone have the potential to almost double our production and i suspect we will not have much longer to wait for some good news on that front.

Jzee, i would agree there seems to be a buyer, in the last few weeks there have been quite a few 3 million purchases when the price hits 0.4p.
From the well intervention RNS 14th Oct, the following paragraph is interesting

"The Company intends to optimise the timing of when the well is brought into full production to maximise cost and operational efficiencies within the larger work programme for the Santa Cruz Sur assets".

Was this well a tester to confirm reasonable production uplift in line with that estimated, the above paragraph tells me production did not start from this well, pure guess work but might the remaining Chorriloss wells CMo-8 and CMo-24 be undergoing workover, if so the three added together would provide an uplift of around 230 bbl/d.
Guess its a case of wait see what news is released, hopefully not much longer to wait.

utility, its no different to the oil tankers that sat off the coast waiting for the oil price to increase by a few points, its no different to trading "futures" , the next few months will be interesting and i am sure every oil company will be pumping as much as they can to take advantage of the higher oil and gas prices, ECHO are no different, any way must get on, busy preparing for my three months in Spain, leaving Sunday, hope you dont miss me too much though i will always be looking in but maybe not to the same extent.