Member Info for abzzba

samra, i hope i am right as well, seems there are a few LTH in the same boat, GLA, and for echo, get your finger out, time for work its springtime now and i do not want to hear any excuses due to lambing season.

Latest info puts current production in region of 2000 boe per day, if the 8th June RNS and the expected additional production from the 16 workovers can be achieved this would almost double daily production to around 4000 boe per day (please check the RNS yourself incase I read it wrong). In the June Q&A we were told each W/O should take around 10 days and the pulling jobs 2 days each.
Add to the above whatever campo limite brings to the table, if campo limite comes in who knows what that might be worth, in last Q&A MH said we required specialist equipment and personnel which cannot enter the country due to virus rules, we can only go by what he tells us, there is also the fact echo had to pay a further 1.5 million if any major discovery were announced before 1st Oct so it would seem wise to delay and such announcement, more so given the statement in 30th Jan RNS that the reservoir may be larger than expected, once again check that RNS yourself, from my way of thinking this all bodes well
As for Monte Aymond there were certainly quite a few producing wells in this area, if we have one (or more) on our block and it can be brought back into production at low cost even better.
If echo can deliver on the above this sp should be history.
My concerns are the fact that since the 8th June workover RNS we have heard very little, we were told the weather was against us, we are now into spring in Argentina so I cannot see any weather issues now.
Campo limite is an unknown, is the hold up due to the virus, or was the hold up due to echo not wanting to announce any new discovery, it could even be a combination of both, we just don’t know.
On paper it looks like a brighter future, we now need them to deliver.

share-T, firstly i am no expert but my thoughts are it comes down to the debt we have, real value of company around 40 million based on current assets but take debt away leaves 5 to 10 million value, this is why i am eager for echo to start work on these other opportuniteies that they have identified, the multiple workovers, campo limite and bringing Monte Aymond back into production, these are all low cost projects that should see quite a bit of value added, campo limite especially could be a real benefit to the sp.
As i say, my thoughts only.

Most shares have redish tinge today, maybe coz Donalds got a cough, nowt we can do but sit watch and wait it out, at some point the market will get fed up of this downwards route and at some point echo might decide to do a little work on some of these opporunities they keep telling us about.

ranger, i do not disagree with your uncles advise but oil, and especially gas has a big part to play for at least a decade or two more, work wise i retired 20 months ago after 40 plus years in the industry, that said i did take a few months work in Bulgaria then Ghana and no doubt there will be other offers of work, i guess what i am trying to say is there is plenty of time for echo sp to recover and for investors to get our money back and i see campo limite as the first step in echo climbing out of the hole they are in, all the signs "seem" positive, god forbid i am wrong and the truth is closer to WTs thoughts.

ranger.
life goes on, i dont much care about covid (aka flu) but thats another story, lets just say if i were calling the shots everyone would be at work , markets crash, its what happens, for me Donald the great is guaranteed a second term and as for holding i am quite prepared to hold for years if required.
As for Musk not sure what he is on other than an ego trip but i dont see much point being one of the two hundred on a magical mystery tour to destination unknown.
Trellis, my point exactly, no point selling at these levels, best we can do is average down (done) and say a wee prayer.

Much better to sit it out and get your investment back rather than lose 95%, as for becoming a dull share i can live without the excitement of "transformational" discoveries.

I am happy enough being a production company rather than throwing money down the pan with long shot and expensive low COS explorarions, to drill the hole in Bolivia would have cost 150 million dollars, if either Repsol or Shell had come up trumps we might have found a partner willing to bank roll this but both Repsol and Shell lucked out so our plot inbeteen them is hardly prime realestate.
As for TA the drill costs were also high even with our 19% contribution, if memory serves i think it worked out around 1.8 million a hole.
Much better we use our own rig on Santa Crux assets where we get 70% and costs are low, as yet we do not know for sure about campo limite but it appears we have a commercial well, add to this the Monte Aymond well a few km away which can be brought back into production for minimal costs, this seems like a pretty good plan to add value at minimal cost outlay. Steady as she goes suits me, leave the high roller last throw of the dice to others.

ranger, to be fair WT is quite knowledgeable which is part of the reason i cannot understand the outbursts, anyone that has worked in the industry understands timescales change even in the best of times, add to this the current covid issue and restrictions in Argentina, echos limited financial options and the fact MH is doing his best (as far as i can see) to dig us out of the hole FM left us in i think most would see todays RNS as a positive, we all want news, we all want the sp to soar but being realistic that is unlikely for a while yet, for myself i think todays RNS shows we are headed in the right direction.
GLA

Wizard, maybe you could rustle up some of your magical powers and add a good dollop of your decades of experience in oil & gas and fill in the blanks for us, i would have thought this would be a breeze for you, per chance are you one of the thousands of oil workers that have been paid off recently, i only ask as the last few months you have been like a bear with a "sair heid", excuse the doric.

Looks like it may have been Geopark that drilled monte aymond well, all in all a reasonable update from echo which makes me feel a bit better regards our future, will be much happier when an RNS hits saying we are producing.

Agreed, all sounds very positive and more than suggests campo limite will be commercial, plus it throws Monte Aymond well into the pot,

RNS Number : 3630A
Echo Energy PLC
29 September 2020


29 September 2020



Echo Energy plc

("Echo" or "the Company")



Santa Cruz Sur : Monte Aymond Gas Project



Echo Energy, the Latin American focused upstream energy company, is pleased to announce the completion of an initial assessment by the Company of the Monte Aymond gas project in Santa Cruz Sur, Argentina.



The Monte Aymond project, located 5.2 km to the west of Campo Limite on the Company's existing Palermo Aike licence at Santa Cruz Sur, involves working over the Monte Aymond well which was drilled successfully in 1984, targetting a Springhill reservoir structure imaged on 3D seismic. The well successfully discovered and tested gas and condensate at an initial flowrate of 2.4 MMscf/d, and subsequently at an average rate of 5 MMscf/d over a longer 10 month period of production. Whilst this well was previously abandoned, the Company believes that the now improved local infrasucture and prevailing gas prices mean Monte Aymond is now an exciting commercial project.



In 2019, a conceptual study was undertaken by the then Santa Cruz Sur Joint Venture partners around the export of Monte Aymond gas with a proposed 2.6 km flow line and associated infrastructure to processing facilities across the border in Chile at a gross cost of US$570,000 and with an economic payback period of 3 months. This assumed a realised sales price of US$42/bbl of oil and a gas price of US$3.5/mmbtu.



Building upon this historical work, Echo has also commenced a feasibility study to explore the option for micro-LNG (compression and liquefaction of natural gas) at Monte Aymond which would increase the Company's ability to sell gas directly to clients in remote areas via truck transportation (a virtual pipeline) with the potential to achieve materially higher sales prices.



As an alternative to the micro-LNG option, the Company is considering the development of Monte Aymond via both the aggregation of the volumes of Campo Limite, and Monte Aymond via a hub development approach to potentially lower development costs and increase the returns from both projects and also a standalone development.



The Company also confirms that testing of the previously drilled CLix-1001 well at Campo Limite will be scheduled once ongoing COVID-19 travel restrictions in Argentina, including the country's borders remaining closed to non residents, have been lifted and that the testing of the CLix-1001 well, and operations related to the identified portfolio of proposed workovers and interventions at Santa Cruz Sur announced by the Company on 8 June 2020, remain operational priorities for the Company.





Martin Hull, CEO of Echo Energy, commented:



"The Monte Aymond project on the Palermo Aike licence, located close to Campo Limite and the Chilean border, is of great interest given its promising historical data and potential micro-LNG development plan which woul

Tomorrow always comes after the day before, and each day it gets a day closer

Rns first thing tomorrow is not what my tea bag tells me.

And we have a late runner, Mr MarkyB, we are awaiting CPR to prove up the field, i place this alongside ny at 5/1.

Over the last few days we have had several posters giving their thoughts on what is going on with echo, the only thing we are all agreed on is the fact that the silence is deafening so the question is why the silence, below i have compiled my "odds" on each posters thoughts.

The_Linns, i like this idea that echo are holding back news in an effort to save echo 1.5 million so i have placed this at 3/1 odds.

nyforever, looks like he goes with echo and MH statement we are waiting on specialist equipment and personnel being allowed into the country, few seem to believe this so i have placed this at 5/1 odds.

WT, appears to of the opinion we are being fed bull shxt and we have hit another coal seam, the majority here hope he is wrong and the odds on this are 6/1.

8/1 the field.

GLA.

https://www.energyvoice.com/oilandgas/267346/aberdeen-oil-boss-bribery-case-straddled-lockdown-like-no-other-says-sfo-chief/

See Fridays 12.24 post by Digittt, not sure if there may be anything other than this to verify.

The_Linns, Much appreciated, seems we need to keep the faith for a wee bit longer, lets hope you are right then WT can buy a few more bottles of plonk with the profits from all those top ups he made a few months ago.