Member Info for abzzba

See the result of the AGM RNS, resolution 6 did not meet the requisite 75% voting threshold for that special resolution to pass. they got 56% at the AGM so 20 small investors or 100 million shares might just be enough for the resolution to fail again and given i am real fed up with MH playing things close to his chest i just might be tempted to vote against this.
What has MH done or acheived, he bought Santa Cruz = Good.
He restructured the bonds = Good.
He & partners upgraded water pipeline = Required.
What has he produced oil or gas wise = Zilch.
How many of our opportunities ie MA, workovers, CL etc has he brought to fruition = ZILCH.
If he wants shareholders to back him maybe its time he backed the shareholders by creating some of that value he keeps bleeting on about, end off.

Looks like an option to issue shares to pay of bondholder interest in shares rather than cash, but thats a laymans guess
attachment at below link.
https://www.echoenergyplc.com/media/1527/2021-08-16_gm_notice_web.pdf

https://www.echoenergyplc.com/investors/results-reports-and-presentations/

somm, i want to know when these workovers will be worked on, what timescales and exactly which wells in which fields, also when will MA be worked on, when will these additional assets start paying back, you might be willing or even happy to wait until next year or even the following year, i wnt work started so we can start banking cash, you may remember there are many millions to be paid back in a few years, as for CL i am willing to accept we are stuck with this until the borders open but we have been sat on our butts doing nothing (apart from water pipeline) for nigh 18 months, the workover RNS was released June 8th 2020, have we completed any of these ?.
Also you say " they've told us 10 wells will generate approx. 100 bopd from 10 new workover wells ", try and keep up, these are just being brought into production, no word of workovers on these, when these were shut in April 2020 they were producing around 100 bbl net to ECHO.
If you really believe ECHO are doing a good job then you are easily pleased.
As i said in my previous post, we will see what the next RNS says.

Hublot, sure if you just mail him including how many shares you have that will do to kick things off, offcource no one wants to go this way but the inaction by our board of directors is beyond belief, that might change in the next RNS which should come very very soon but i have a strange feeling we may still be left wondering what is going and left wondering where this added investor value is.
With MA, workovers etc we have the opportunities to add value but ECHO must buckle down and get to work on these.
Lets see what the next RNS says but for myself if there is no marked improvement i am all for some sort of direct action.

Based on dates for the last three operational updates (21st Jun 2021, 19th Apr 2021 & 24th Feb 2021) we may well get an RNS next week, certainly it cannot be far off.

malkis, was that a typo, did you mean 5.5 ?

malkis, do you subscribe to the site below ?
https://glintpay.com/blog/investing-crystal-ball/

I would doubt ECHO have paid Phoenix anything yet as the well is ongoing, agreed MA will be at ECHOs cost, as for MA it will need a work over and if they go this way a 2.6 km flowline across the border into Chile, neither being a huge expense given the expected payback.

somm, CL costs as follows from 19th Dec 2019 RNS.
As previously announced, the costs of the CLix-1001 well that correspond to Echo's interest will be paid for by Petrolera El Trebol SA, a subsidiary of Phoenix Global Resources plc, the previous owner of the interest. Echo will reimburse up to 60% of these costs at a later date in a mixture of cash and ordinary shares. Total reimbursement will not exceed a maximum amount of US$1.1 million.

burnemc, i agree, its no big deal, it would be a nice thought that increased gas production was the problem, certainly the production figures supplied by Interoil were not that much lower than the previous months.

Our junior partner Interoil who hold 8.3% interest in Santa Cruz released an RNS this morning, the below paragraph from their production update relates.
"In Argentina, gas production was slightly lower than in the month before because of a technical problem in a gas compression unit in Campo Bremen (Santa Cruz). The situation was resolved after seven days and gas production was back on stream on 3 August."

should be a real good day with this farm in update

Maybe more straight forward.
1 MMSCFD = 1040 MMbtu so Monte Aymond last flowed at 5 MMSCFD = 5200 MMbtu x the spot or contracted price, if we use $3.5 we end up with 6.6 million. (3.5 x 5200 x 365)

Page 7 last paragraph mentions Campo Limite & El Pedrero prospects, anyone heard of El Pedrero ?

guzzibear, quite sure you are not alone in hoping “this will be the day”, it will arrive and hopefully soon, as for Oiltraders forecast of 6p+ i see that as achievable after the workovers, MA & CL are completed. Shorter term we may well be approaching that 2p after the workovers, depends how kind those workovers are to us, we certainly have plenty wells to work on.

guzzibear, i tend to think most investors but especially the LTHs would agree with your 1.5 out of 10 rating, that said one good RNS might propel MHs rating sklwards.

Diggit, while i agree with what you say about MHs lack of operational experience i would say this is the operators job, also our junior partner Interoil have plenty experience as do the current operator Selva Maria Oil SA, Interoil have applied to the Argentine government to take over as the operator of the Santa Cruz field and that should happen later this year, i am all for them taking on this roll as they like to keep their investors informed.
However i would disagree there was ever a 15 day workplan regarding the workovers, the 15 day workplan related to bringing the ten wells shut in April last year back onstream, nowt at all to do with the workovers though some of those wells may be included in the workovers.
Each workover should take no more than 10 days. Great shame we do not know when the workovers started but i should think they started around the time the pipeline works were ongoing, hence thinking we should have completed several workovers by now

I had hoped for and expected an RNS by now, however we are now only 2 weeks away from the scheduled 2 monthly operational update, we have no idea when workovers started, it would have made sense for these to have started when the pipeline works were ongoing, if that were the case we should have completed several (4 or 5 at least) workovers by now, guess its a case of wait see as our MH seems to like keeping investors in the dark.
Lets hope the next update is "blistering" good news.

Looks like we are off and running again !! up 4.8%
2021-08-04 11:03:52 0.649 614,869 £3,990.5
2021-08-04 11:02:40 0.635 156,852 £996.01
2021-08-04 10:59:34 0.65 1,500,000 £9,750
2021-08-04 10:58:38 0.6454 1,500,000 £9,681
2021-08-04 10:49:47 0.6231 150,000 £934.65
2021-08-04 10:30:40 0.6231 100,000 £623.1
2021-08-04 09:54:27 0.62 3,200 £19.84
2021-08-04 08:13:59 0.644 2,808,548 £18,087.049