Member Info for abzzba

Bobbbyr, good find, it had crossed my mind echo are intentionally not spending money on those workovers so they have cash in hand to work on a bigger prize, might it be CL.

Bit I find hard to believe is these "haters" tell us they are share holders yet they are on here day in day out bashing the company and doing their level best to rubbish everything about the company, very strange that any investor would do that.

Util, while supply might fall off in the domestic market as Argentina winter ends you must remember the fixed gas prices are with industrial industries plus I believe there is a gas volume agreed, maybe time you start to read news updates / RNSs several times until you understand them, hope that answers your main question, re Sound, no idea, do not follow them.

Util, you and others really should try and get your facts correct, we do not have a fixed price for oil, we do have a fixed price for 70% of our gas and an option to supply more gas at the fixed price however I suspect that is an option echo would not take up if the local spot price for gas is higher than the fixed price.
Please at least make an attempt at posting facts rather than fiction.
It's becoming boring having to correct you and your co workers from rent a de-ramper.

Seems to be just those that are not invested that are worried.
PS, if voicing my opinion and saying I think echo are taking too long to monitize our assets equates to having no moral fibre I guess I am guilty.

Ranger, there is no discussion, just a torrent of half truths and conjecture by several negative posters, I will no doubt join in more once I get home or when echo releases some good news, depends which comes first though I suspect it will be the good news as I will not be home until the end of November.
Unlike the derampers I am not sitting at the computer waiting to parry and misrepresent any post they do not like.

Very strange we have so many posts speculating doom scenarios regards all the negatives yet should anyone dare to speculate on the positives they are shot down by these same posters,

ranger, you do waffle some real crap, to set the record straight after your waffle post below, its actually 4 wells that have been successfully brought back into production, those 4 wells are now producing double what they were producing when shut in April last year and they were shut in as ECHO could not sell the oil not because they were not economical, agreed that this increased production might fall back after a month or two but any idiot knows its cheaper to look after 4 wells rather than 10.
As for the remaining 6 wells we have no idea of their status at this time.
The only factual thing you have said today is it does ECHO no favours that they must rely on third parties, on the bright side our junior partner Interoil have applied to takeover as operator of the Santa Cruz field so thats a plus as they have a vested interest, the current operator Selva Maria will not be happy so i guess we cannot expect any favours from them but as Interoil expect to be the operator by year end this works in our favour.
Anyone reading this board should be asking themselves why several posters have been on this board daily for several years pumping half truths and negative view points, try going through their post histories, it might help you focus.
As for the workovers mentioned page 9 of the latest presentation, some pretty good figures have been quoted for the expected increased production, realistically we cannot always throw a six so even if we end up with 50% of the expected increased production we will be doing very well indeed.

It's better than being unpopular !!

Price was fixed last year as well and that worked for us, no one could foresee these prices which now work against us for 60 / 70 % of our gas production.
Important now if we can up production and sell the remainder at spot price.

Not sure why anyone would consider Monte Aymond a gamble, check the quoted flow rates in last year's RNS, then consider it has been shut in for around 25 years, the pressure build up will mean there is every possibility that it can produce at similar flow rates as in the 90s, this well alone is capable of paying the bondholders nearly all their 20 million, then check that flow rate against the expected production increases that the identified gas well workovers might return as stated in p9 of the latest presentation, MA is very capable of delivering more gas than all those wells put together.
CL is an unknown, it may be our saviour, no one knows as yet.
Yes MH is a money man and yes he did well to buy into Santa Cruz and he did a great job with the bonds, as an oilman he has yet to prove himself, for my money he is taking to long to monetise our assets but assuming he gets there I guess that's the important part.

I would agree echo are taking a long time in bringing wells back into production, why this is taking so long I have no idea, I understand we have cash limitations but we need to get our finger out and get some work done, the workovers mentioned in June 8th 2020 RNS then mentioned again on page 9 of the latest presentation would propel the production figures upwards, Monte Aymond must be about as certain as things get and given its a gas well we should be jumping on it, the testing of Campo Limite cannot be far off, while I am unhappy with the pace echo all we can do is wait, no good will come from calling out posters for being very confident, indeed I have no idea why some would waste their lives coming onto this board just to attack other posters, either they are real sad or angry people who have lost a lot of money or worse they have psychological problems.
We must give echo time, neither you nor me know the real situation, we can only assume MH is doing his best for the company.

Word of caution, remember we fixed gas prices for 12 months with those contracts starting in May, that said we have benefited from those fixed prices.

Could be good news for Zanaga.

https://www.reuters.com/article/us-usa-security-australia-china/australias-new-us-uk-security-pact-risks-china-trade-idUSKBN2GC09D

Our junior partner Interoil released a a production report this morning which includes Santa Cruz Sur figures.

https://www.interoil.no/?page_id=13&year=2021&PressReleaseID=2591970

Just watched the interview, would agree it came across well, guess we need to give MH the time he needs to get things alligned as he wants them.
Certainly feeling way more confident that we will see this start to rerate soon.

MH inferred during his call (after i requested shareholder ZOOM call) there would be a directors interview before the AGM voting cut off date, lets hope so, news / updates always welcome as always with ECHO not often enough.
As for Util i do agree in part, we have had far too many false starts but i do feel things different this time with the new pipeline etc in place.
I am away for three months to get some sun but will look in daily when i can.

We have way more wells that can be brought back into production than we can afford to do so any increase in revenue helps pay for these

The last RNS told us 4 of the 10 wells shut in last year are now producing at twice the rate they were, this is maybe wishful thinking but i wonder if the six wells that have not been reported as producing yet may be undergoing workovers, living in hope.
p9 of the latest presentation states that the identified oil workovers in the Chorrillos block are each capable of producing an additional 90 bbl/d, 6 x 90 = 540 bbl/d, happy days if that came true !!!!

I too would struggle to believe they are really that cash strapped, December 2020 we had £850k cash raise, June 2021 $500,000 VAT refund, oil and gas sales are difficult but i would guess around $17,000,000 to-date this year, feel free to correct the sales figures.
From the above we can subtract $280,000 for the pipeline works plus normal ongoing costs, we must be able to afford a few $250,000 work overs to increase production.