Member Info for abzzba

No doubt this is more "wishful" thinking on my part but could it be we have performed workovers on these ten wells that we are bringing back into production and the test results are so good we are extending those tests just to confirm the figures, who knows.
Re The_Linns and contact with MH, i suspect there will be no further updates from MH until after the next RNS, when ever that might be.

day 23 and counting.

util, you could be right in what you say however i still feel ECHO have so many positives the price should be higher, indeed i am starting to think conspiracy theory, might Rothschild be "a bit upset" at MHs departure, might they be hindering this share in the back ground, certainly they have that clout, i do wonder and this again might be wishful thinking, is the plan to line up all the ducks and hit the market with a broadside of good news, so much so the price has only the one way to go, this would certainly fit in with your "off the wall theory below" ?.

The below MH reply was posted on the 8th (last Thursday), it has since disappeared for some reason.

Firstly, response from Echo my my inital email ...

"Thank you for your note. We appreciate the feedback and take it on board. There are a number of steps that we hope to be implementing in the near term to address your points. I have also conveyed to the team a need for an increased focus on communication and PR efforts.
I also welcome in your original note the recognition for the various positive operational and financial steps that have been achieved to take the company forward and deliver value to shareholders. These remain a focus and I continue to believe those efforts will pay dividends. We remain very positive about the future.
If you believed useful I would certainly be prepared to arrange a convenient time to speak directly. Perhaps you can let me know if you would like to take this opportunity.

With best regards

The-Linns, thanks, lets hope you hear back soon, were you aware your previous post / reply from MH is no longer on the site (as far as i can see).
Meantime 22 days and counting and yes i am aware works can take longer than expected, but we are now almost 50% over our illustrious CEOs 15 day estimate.

somm, i 100% agree regards MA, also our Dr Bessa stated in the last Question and Evasion session that gas from MA could be hooked upto Chile with a 2.6 km flowline, i cannot understand why ECHO seem loathe to actually increase gas production, a 10 day well workover while 2.6km flowline is laid we could be producing in a month.

Is anyone else having problems with LSE, the price is showing blue, guess its another glitch in LSE system.

Agreed, i am all for some PR & PR (production rise & Public relations)

From 21st June 2021 RNS: It is expected that the first tranche of production to be brought back online will be from ten wells in the Campo Molino and Chorillos oils fields. This work to bring the initial production back online is expected to take around 15 days. When these wells were last online, the combined gross production was approximately 138 bopd gross, 96 bopd net to Echo.

See below extract from 8th June 2020 workover RNS:
Workover Programme Update
The Company previously announced that the Eagle workover rig, owned by Echo and its partners in the Santa Cruz Sur assets, had been redeployed from Campo Limite to commence a standard programme of well interventions and maintenance and that the first well intervention being undertaken, in the Chorillos block, was assessing the production potential of bringing a historical well back online in a small field at Santa Cruz Sur. The Company confirmed that the expected new production potential of the currently non-producing well was estimated at 41 bopd when brought into production, following a swab test that produced a cumulative 280 bbls of oil over 48-hour period. This successful workover operation earlier this year provides confidence in pursuing further opportunities in the workover portfolio to increase production.
Echo is now pleased to confirm that in addition to the successful operation described above, an initial portfolio of sixteen workovers, focussed on seeking to bring PDNP & 2P reserves intervals into production, has now been matured. Of this portfolio of potential projects, four initial opportunities (consisting of 3 well workovers to bring associated PDNP 1P reserves into production and one project targeting 2P reserves) are estimated to be capable of adding expected combined additional production of up to 4.8 MMscf/d of gas and 84 bopd (total combined additional production potential of 884 boepd). These 4 initial opportunities offer a combined estimated value of approximately US $9 million in NPV10 uplift based on an aggregate gross cost of approximately US $1 million and fast payback periods of between two to six months. This uplift potential assumes a realised sales price of US $32/bbl and a gas price of US $3.5/mmbtu. The remaining twelve opportunities in the initial portfolio could each be capable of increasing gross production by up to 0.6 MMscf/d and 91 bbl/d. The Company continues efforts to identify and mature further production enhancement opportunities over and above the 16 already assessed to provide further growth and value to shareholders.

I guess the wishful thinking would be that this first tranche of ten wells are amongst those due for workover / intervention and if so could raise production from the 138 bopd gross, 96 bopd net to Echo mentioned in the June 21st RNS to the each be capable of increasing gross production by up to 0.6 MMscf/d and 91 bbl/d mentioned in the June 8th 2020 RNS.

I would agree we must be due news soon, Monday will be 21 days, oilfields do not work a five day week as someone suggested so we are overdue news.
About the only good thing i can find to say about this week is we have not dropped that much sp.

Every day of inaction by our CEO and his exemplary Vice President of explorations Dr Bessa is a lost day’s production at each of our workover wells, Monte Aymond and Campo Limite.
Every day of inaction is a further drain on our financial resources as this pair continue to draw huge salaries.
As for our VP of exploration, just exactly what is he exploring and being paid for.

18 days and counting

The_Linns, thanks for this.
However when MH states "There are a number of steps that we hope to be implementing in the near term to address your points" it sounds like the same old guff, no timescales, bit like the workover RNS we received 13 months ago, cake tomorrow.
Will wait see if anything comes of this, certainly cannot do any harm.

8th June 2020 (13 months ago), workover RNS link:
https://www.lse.co.uk/rns/ECHO/santa-cruz-sur-reserve-and-resource-update-pnj02mfkn8t81jx.html
Sounds like a great RNS but not a damn thing done so far.

29th Sept 2020, Monte Aymond RNS link below.
https://www.lse.co.uk/rns/ECHO/santa-cruz-sur-monte-aymond-gas-project-utxaqb85ax2zdd0.html
Sounds like a great opportunity to open up a commercial gas well, not a damn thing done so far even though at the last question & evasion session our VP of exploration Dr Julian Bessa told us we could connect this well up cheap as chips with a 2.6 km flowline across the border to Chile.

Campo Limite Test Update in the 15th April 2020 RNS at the below link.
https://www.lse.co.uk/rns/ECHO/operational-update-80jx3cgf5d1cmk8.html
Not a damn thing done, being fobbed off with crap such as we cannot get equipment and specialist personnel into the country due to covid, utter garbage, there has never been an embargo on equipment and specialists are flying into Argentina under the key workers exemption.

Time for these very highly paid guys to deliver, time for the works mentioned above to be started and long overdue time for MHs promises about creating value for our shareholders to be seen rather than dreamed.
Sick fed up of carrot cakes being dangled.

No point each of us mailing MH, he will probably just junk the mail anyway, need one person speaking for every shareholder with a total number of shares he is representing / speaking for, united we stand, dived we fall kind of idea, question is will The_Linns step forward for that roll as they have by far the most shares.
Thoughts !!!

If The_Linns have 62 million i am quite sure we can muster "at least" another 60 million between us, that would equate to 10% of the issued shares, my 5.2 million can be counted in.

I would not have been as diplomatic !!

tombi, cotty, apologies for spouting off, my buy this afternoon showing as a sell.
06-Jul-21 14:56:26 0.661 1,511,422 Sell*

And you expect to me to believe this ?, your asking me to believe he bought for less than the mid price, really, guess i should be using his broker

Believe what you wish guys but i will stick with what AJ Bell tells me.