Member Info for abzzba

somm, ref your post below, you could be right about the debt holding us back but my own thoughts are we are going nowhere as we are not upping production, we have opportunities at MA plus the workovers mentioned in the RNS in June last year and mentioned again on p9 of the latest presentation but it seems we are still faffing about with 6 off the low producing wells which were shut in last year, thats fine i guess if ECHO think they can squeeze more oil out of these 6 wells but for my money we need to get onto MA which should be the single best producing well we have which is not producing at this time, ECHO need to up production.

Bought my first shares several years ago, have added quite a few recently, this was always going to be a long term hold and i see nothing new to change that thought

lokanraej, i doubt thats the reason as we were sitting higher than this Monday last week, lets face it, all the RNS tells us that only 4 out of the 10 wells we thought were online are actually producing despite the fact these 4 are producing at twice the rate they were, its not really that great news, as mentioned below this production increase per well is almost certainly due to pressure build up and production will quite probably revert to similar as last year over the coming months.
We need actual workovers and non producing wells belting out the 90 bbl/d as mentioned on p9 of the presentation, 2 or 3 of those then we will see an increase.

Maybe a large dose of Viagra could keep this prix up

Looking at the trades the market seems to like it, guess that is all that matters.

Agreed this is good news, however the 4 wells from the ten shut in will benefit from a pressure build up due to being shut in for 15 months period, my obvious question would be what about the remaining 6 wells that were shut in April last year.

Certainly we need guarantees as to what will be done with any cash raised, as i mention below we had £850k cash raise 9 months ago, oil and gas sales and reasonable VAT refund since then, what has happened to that money, yes we know $280k was spent on a water pipeline but that still leaves more than enough for several workovers @ circa 250k each, have we completed any workovers, we have no idea, we did get a twitter pic for our cash, expensive picture ??

308..
lets hope your right

Think we will need quite a bit more than the 138 bopd gross, 96 bopd net to Echo from those ten wells to get us to 2p, we need increased production due to workovers.

Dont think we do have acreage in Vaca Muerta Neuquén basin which is north Pategonia, Santa Cruz is mid to south Patagonia, but on the bright side the more gas piped out to Brasil the more we can sell in Argentina.

MUST be next week.

Based on dates for the last three operational updates (21st Jun 2021, 19th Apr 2021 & 24th Feb 2021) we mustl get an RNS next week.

Yep, it occured but looking at the ending "Please note @ Echo HQ!!" would appear to have some meaning and a similar ending as another regular who very very seldom had any praise for our dear Mr Parsons , whatever the reason good luck to him, he and his knowledge will be missed.
Could we consider this a good day as we are not red yet or have i spoke too soon !!!

And i agree he will be missed, his oilfield knowledge being far superior to anyone else on here. Lets hope a new poster arrives with a similar knowledge very soon.

WT has said nothing on here recently that might have caused an issue, he did have an outburst in one post around September last year when he got rather personal but given that was almost a year ago i would doubt that would be the cause.

WT, have you got a job working for ECHO ?

On the day i said that the price was 9.85p, but thats neither here nor there as our decline was certainly down to our previous CEO at the time Fiona MacAulay and her transformational claims for our EMS-1001 exploration well, i agree MH inhereted a pile of crap and debt and applaud his purchase of Santa Cruz and the bond restructure, its the time from April this year i am finding difficulty with, the lack of accomplished work, the work overs, MA etc which appears to be down to lack of funds and having to chose how best to spend the money we have.

Update, I just received a call from MH, it would appear he has been advised by PR that my proposal for a ZOOM call with shareholders would be an unusal "step" and as such unlikely to happen, however if i heard correctly we can expect MH to participate in a Directors interview prior to the AGM, for myself this would be an acceptable alternative to my proposed ZOOM call.
He sounds quite positive and upbeat but stressed ECHO were working within tight budgets which i think we all realise.
For those of you that think i have something against him see my historical posts below.

dated 11 Oct 2018, 21:47
I also invested initially as a punt during the rights issue, but have added substantially since, for me (IMHO) Martin Hull joining ECHO ie leaving a long term Rothschild career behind was a big indicator ECHO are going somewhere, i cannot see this guy jump ship from Rothschilds on a whim, agreed results to-date have not been impressive but the game is not finished yet, again IMHO i think the reason for reporting all 4 WOs together is the results will be hugely more impressive and impossible for the market to ignore,

19 Oct 2018 11:30
I certainly agree Martin Hull would not have quit a long & established career with Rothschilds unless he had complete confidence in ECHO and no doubt he knows more about ECHO and their aspirations & holdings than most of us do, as you say, if its good enough for him its good enough for me, he has probably never been referred to like this before but as far as i am concerned he was the icing on the cake, patient time is here, just a case of waiting this out.

echo mentioned at 18 minutes 50 seconds
https://podcasts.apple.com/gb/podcast/uk-investor-magazine/id1396438444?i=1000532374660

Digittt, by all means convey to Martin the proposal put forward, i shall keep the pitchforks and buckets of tar and feathers at bay (for now), i am all for being fair and transparent, lets hope ECHO think the same way.

nyforever, understood, next candidate, WT you looking in and would you be interested in taking the zoom call, apologies if i appear / hog the board today.