Member Info for abzzba

I'm pretty sure when the magic date of 2025 comes around the debt will still be there but we will have more than ample money to pay it off, MH has ample time to turn the company around and build a future based on new wells, you guys seem to forget we have 3.5 years to do this, since since August we have 7 of the 10 Campo Molino wells back in production and one of the 16 workovers completed, these amount to around 230 bbl/d NET to ECHO and thats in three months, happy days not far off.

Campo Limite (CLix-1001 well) is a gas well, reservoir detail and 70% COS mentioned in the 19th Dec 2019 RNS at below link.
The RNS also details the fact ECHO need pay only 60% of the CL costs, best you read it.

https://www.lse.co.uk/rns/ECHO/mobilisation-of-drilling-rig-to-palermo-aike-aaoy1ighs96x7bw.html

util, you really do make yourself look and sound foolish, might i suggest a trip to a doctor of the mind.

The ending below, seems i wrote too much.

also we should not forget Monte Aymond (ref 29th Sept 2020 RNS), this previously produced gas flow of 5 MMscf/d before being shut in years ago when oil was the prize, MA will require a reasonably inexpensive workover and there are various options for transporting the gas with either a 2.6 km pipeline into Chile or a hub development via Campo Limite which lies around 5km away.
Purely my opinion but another 6 months of patience and ECHOs current sp will be history, as always DYOR.

MH took over running the company December 2018 after our previous CEO Fiona MacAulay ran the company into the ground, when MH took over were were loaded with debt and on the verge of bankruptcy.
MH bought 70% interest in Santa Cruz field late 2019, he made clear his intention to take ECHO forward with low cost, low risk strategy, testing of the Campo Limite well was suspened 15th April 2020 due to the pandemic, our oil producing wells in the Campo Molino field were shut in due to the low oil price at the time (sub $30 bbl) plus the fact we could not sell the oil due to the decreased demand due to the pandemic.
April 1st 2021 our $20 million bond was restructured, this is not now payable until 2025, on this news the sp briefly touched 1.9p on April 1st .
Shortly after this it was announced urgent pipeline replacement was required with this work spanning April, May and June 2021, on completing this work ECHO started bringing the 10 Campo Molino wells back into production, the first 4 back in production were announced August 26th, these 4 wells each produced twice the oil the were producing when shut in April 2020.
Another 3 of the Campo Molino wells were brought back to production and announced on the 5th Oct 21, each of these 3 wells also producing at twice the 2020production rates, we are waiting news on the final 3 Campo Molino wells which I suspect will also offer positive news very shortly, in total Campo Molino should be worth around 250 bbl/d net to ECHOs 70% share.
On the 14th October we received news that the first workover had been completed and this flowed at 76 bbl/d, we have another 15 workover waiting to be completed, I think it likely the next workover wells are being worked on right now.
If we are being conservative we might use an average production rate of 45 bbl/d from each of these 16 wells once all 16 are back in production, the figure could be higher or lower, who knows, but 16 x 45 would equate to 720 bbl/d, add these onto the Campo Molino production we should be on or around an oil production of 1000 bbl/d.
The above work is in line with MHs low cost low risk strategy. For details of the workovers see page 9 of the latest presentation.
On top of the expected 1000 bbl/d mentioned above we can add on our current gas production which we are selling the bulk off to commercial customers so the end of winter should not have a great effect on gas sales.
It was recently announced that Argentina will open its borders on November 1st, this would allow the specialists required for Campo Limite testing to enter the country, we can only guess what CL might bring to the table but the signs look very very good, might I suggest you read the RNS released 30th January 2020 ref CLix-1001 well, also we should not forget Monte Aymond (ref 29th Sept 2020 RNS), this previously produced gas flow of 5 MMscf/d before being shut in years ago when oil was the prize, MA will require a reasonably inexpensive workover and there are various opt

no contradiction there, other posters were replying to you.

chab, i never promised i predicted and RNS and a rise, quite a big difference between a promise and a prediction !!.
As for ranger i filtered you a few months ago but had to unfilter you to correct your misleading posts, though lately you have been marginally acceptable, all in MHO.

Hope those investors that are selling have not let themselves be infuenced by our resident troll team, ifso they will end up very unhappy when this starts to fly, happy days not far off !!!!!!!!!!!!

Looks like we must wait until next week for our next RNS update on increased production, no doubt the

trolls will be very happy the RNS has not arrived and we have not reached my predicted 0.7p this week.

Little more patience required !!!

kermit has spoken

chab, well done you, now this time hold them till the price rises, no matter how much you need that £50.00, i realise £50.00 is a lot but you will thank me in the end.
Meantime back in the real world i would agree with eatstocks, its a busy troll day, i blame all this work from home crap.

ranger, i think even the dumbest of investors (you excepted as your not an investor) would realise that the recent good news RNSs are not enough to send the sp soaring, each of these RNSs tell us of around an extra 75 bbl/d increase in production, even you should understand that a combined increase of around 220 bbl/d from 3 RNSs is welcome but more is needed, hence waiting on more news regards our remaining 15 workovers plus MA plus CL, however these recent RNSs certainly lead genuine investors to believe we are headed in the right direction.
Little point posting on this board when the trolls jump on anything positive that is posted by genuine investors.

Util, my only frustration is that trolls can take over a board like this and kill it dead and there is nothing i can do about it, i am quite happy with echo and their management and sp, i think most genuine shareholders can see where this is headed.
Happy days not far off.

308, not sure our 3 trolls are in this for money, think its just for fun with them, lets face it they have practically nothing at all invested, util is a pauper that lost most of his cash with Sound and chablard is shouting about buying into echo again today, yet the highest value trade in echo today was £494 so he is not exactly a high roller, he will be selling out if he makes £30, big time dealer he is not.
Nope, for our 3 trolls its purely fun, annoy the real investors, put prospective investors off, its how these sickos get their kicks, personally i could think of another way but they would have to be standing close by.
We are getting closer every day to "eradicating" this vermin, they will slither back under their stones once the sp starts to perform and we cannot be far from that now.

is that the best you can do ?, no wonder you guys are losers and yes i will be looking for an RNS this week and certainly hoping for 0.7p by Friday, maybe even more depending on the RNS, just amazes me that someone that is invested like you "say" you are constantly tries (badly) to talk the sp down.

looking at todays trades i can only assume your a "bit player"

chab, ref your post "you and your little clique try to quash anybody's opinion that differs from your own", why would any sane persons who are not invested in echo be on here day in day out trying to rubbish the company and its prospects, you and your team of trolls are a complete and utter disgrace to mankind.
Losers like yourself and your chums spoil this board.

chab, how much have you lost with your crazy buy high sell low scheme, guess utility cannot be far behind, not sure he is cut out for share dealing, or maybe he had to tell his wife his get rich scheme with Sound went wrong, maybe this is the reason for the Parsons hate, certainly its a nice thought, neither of you seem to realise shares go down as well as up, bit of advise, watch this space, watch echo sp rise, then we will get a laugh at you guys, not far off now.

If oil did hit $110 by the time the remaining 15 workovers are completed and we add on Molino 300 bbl/d we should be around 1000 bbl/d.
1000 x 110 x 365 = $40,000,000 per year, then we can add on the gas sales, plus whatever CL & MA bring to the table.
Happy days

Chab, the price drop does you no good at all given your liking for buying high and selling low, maybe you should ask your chum who his pension is with, you might actually make a little money, leave share dealing to the big boys who know when to buy and when to sell.
And yes i am still looking forward to an RNS this week !!!

Shall we use non loaded dates, dates that reflect the real position the company find itself in, August 25th we were trading at 0.56p, August 26th we received the first RNS telling us of wells back in production, since then we have had several more RNSs telling us of more wells back producing, agreed these wells are not huge producers but they all contribute to greater production with many many more to come.
So 0.56p August 25th now 0.625p close of play today, an increase of 11% with many many more wells to be worked on plus offcourse the more important prizes of CL and MA yet to come.
We can all quote dates and figures that suit our agenda, question is why are there several posters here trying their utmost to rubbish echo, whats in it for you guys ?.