Member Info for abzzba

Good news RNS but not the pipeline news i was hoping for, VAT refund willgo a long way to paying for the workovers.

24th Feb RNS states Oil sales to date in 2021 have totalled 17,600 bbls net to Echo, we can add on the gas plus oil & gas production since 24th Feb, do not think there will be any need of a fund raise.
Lets just hope the pipeline upgrade is not held up, assuming its all going to plan we should get news very very soon.

5.75%, cannot complain, if we do get a good news RNS on Tuesday we should be on the march north again.

Next expected news should be that we are back at full production after infrastructure upgrades/ new pipeline.
The 24th Feb RNS states "installation expected to take approximately 45 days from conclusion of successful procurement".
The 19th April RNS states "materials required are now being fabricated by the supplier in Buenos Aires", if we take mid April as the materials procurement date we should have the pipeline works completed by the end of this month then its back to full production, Interoil our junior partner in SC stated back in March the rig was being prepared for work, hopefully we are also busy on workovers so we can boost those production figures.
Interoil link in my last post.

Just incase anyone never read my previous post a few weeks ago, our junior partner Interoil released the following update which can be found on page 12 of the doc at below link.

https://www.interoil.no/wp-content/uploads/2021/04/IOX-National-prospectus.pdf

Interoil play a hands on roll and have applied to take over as the operator of Santa Cruz operations, page 12 "Upcoming activities in Argentina" they state "This replacement of the existing and new water gathering system will reduce field
operational costs whilst allowing the re-opening of shut-in wells to increase oil production by 600 bopd and add 2
MMscfpd of gas sales. This well re-opening will also require different downhole repairs in some wells. Thus, Interoil
is already preparing and certifying the pulling rig assigned to SC’s operations to be able to conduct an intervention
campaign aimed at open oil production."
The above doc was dated 30th March and the interesting bit for me was they are already preparing and certifying the pulling rig assigned to SC’s operations.
There are other snippets of info in this doc for anyone that want to read it.

I would imagine that we should hear about the workovers below very soon after the pipeline upgrades are completed, an update on the workovers may even be included on the pipeline completed RNS which we can expect very soon.
With so much potential its easy to see why we are sorting out our dated infrastructure.

8th June RNS link: https://www.lse.co.uk/rns/ECHO/santa-cruz-sur-reserve-and-resource-update-pnj02mfkn8t81jx.html

(suggest you read the RNS several times, the below paragraph is of interest and remember this is only 16 of many wells that might be subject to workovers)

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.

Note that echo were using US $32/bbl to value the above and the oil price is somewhat higher now,
If I am reading the above paragraph right the remaining 12 workovers/pulling jobs could deliver the following.
Gas: 12 x 0.6 MMscf/d = 7.2 MMscf/d
Oil: 12 x 91 bbl/d = 1092 bbl/d.
DYOR !!

ranger, as you say you sat on pipelay barges for weeks, this is the difference between onshore and offshore which i keep trying to get across to you, we are digging a trench with a digger, maybe several diggers, we are reeling plastic pipe, not laying subsea pipelines, get a grip man, forget your north sea tiger days, those are history and long gone.
I have been wondering why the three of you (utility1, chablard and yourself) keep trolling genuine investors, i could be wrong but i think you may all be losers, lost all your cash on previous investments and jealous of we genuine investors that are about to hit the jackpot with ECHO.
The three Amigos, that film made me laugh, bit like you three.

ranger, i decided to unfilter you, i "guess" (Estimate or conclude (something) without sufficient information to be sure of being correct) i missed laughing at your posts, but most of all i missed laughing at you, good to see you have mastered the cut & paste though, clever boy !!, as for chablard his 4th May post says it all, he estimates 2 months to complete the pipeline work, that takes us well into July, this board appears to be infested by pillocks.

chablard, i guess it would be similar to your idle speculation on the 11th of May that the sp would hit 0.85, the following day it jumped 18%.
Some are quite happy to sit back and wait until an RNS drops telling us the pipeline works are completed, others (like myself) are quite willing to make a guess as to when it should complete based on the information to hand, based on the info we have i am sticking with pipeline completion by end of this month.

Sure there are a few looking in, we are awaiting news on the pipeline upgrade, hopefully not too much longer to wait.

I believe Campo & Monte Aymond are located further south and are unrelated to the pipeline upgrade work being carried out in the Chorillos, Campo Molino and Cerro Convento fields .
Agree we need more detail on the way ahead but first things first, pipeline upgrade and workovers to get more gas and oil flowing and get more cash in the bank.

Utility, i care not one jot what you think of me, you are just one of a few pariah posters that infest these boards in an attempt to play with peoples minds, thankfully you are not to good at it and the real investors see straight through you.
As for ramping i do not believe i am guilty of that, i am however optimistic when it comes to ECHOs future, strange that any genuine shareholder would hold that against me.

utility, i doubt anyone could put you right, you appear to have an overwhelming personal grudge against ECHO and anyone that supports them so lets wait see where we are once the pipeline upgrades, workovers, Campo Limite and Monte Aymond are completed, following these prospects i would imagine more exploration work in SCS.
In the very near term i expect the pipeline upgrade to be completed by the end of the month, will the RNS stating such also include workover news on these same fields, guess we need to wait see.
As for Martin Hull i suspect he was on quite a large salary with Rothschild in London where he was a managing director in the global energy team, i would agree his salary is huge but if he can dig us out of the hole left by our previous CEO he will be worth every penny, to-date i am happy with his performance.

Cotty, its a new investment stratergy being trialed, you buy shares in a company then go online to rubbish the company in the hope you can get the price down, it can work if your shorting the company.
"those repair works will be completed soon so these prices will not be on offer again."

util, you are welcome to make your own choices, as for myself i post details as i see them, the fact we differ seems to bother you.
As i said previously, i am quite sure you will disappear once the sp starts to rise, you only ever appear when there is bad news or the sp is stalled, wonder why, strange that someone that holds shares in the company would day in day out post so many negative posts

johnny, next news should be that the pipeline upgrade has been completed and we are back to full production, from the updates we have been given i expect this news by the end of this month, i would expect an update on the multiple workovers to follow shortly afterwards if its not included in the pipeline RNS.

util, i can assure you its not just me that can see the potential here, you might remember the two TR-1s earlier this year who between them hold around 100,000,000 shares in ECHO, i realise that might stretch you so for ease its one twelfth of the company, a not inconsiderable sum, indeed most posters here with the exception of yourself and chablard seem very optimistic, i have no doubt that you will fade away like a bad smell when news starts to flow and the price starts to rise, till then it seems we must put up with your idiotic de-ramping and general day to day downcast posts.
Might i suggest you do yourself a favor and buy a few million ECHO shares which are still available at a bargain price while repairs to our infrastructure continues, those repair works will be completed soon so these prices will not be on offer again.

As you say, oil price rising, preferential gas pricing, pipeline works nearing completion, back to full production after these pipeline works, previous wells shut in last year back on stream, seems only one way this is going and thats before we factor in workovers, Campo limite and Monte Aymond,

I have absolutely no doubt there are many sitting on the sidelines waiting to buy in here once news starts to flow though why they would wait is beyond me, buy now rather than after the news and at higher prices.
based on released info the pipeline works should be completed by the end of this month, or with luck even sooner.

One of my other shares is MATD, their 8p sp makes a mockery of ECHOs 1p, as yet MATD have no production though they do have a well tested at 800 b/d which they hope to get the go ahead on very soon.