Member Info for abzzba

Regards your thoughts that the specialist equipment and personnel we are waiting on may be Gaffney Cline, it would certainly make sense that echo would want a CPR if campo turns out to be bigger than expected.

From 30th Jan RNS:

The fact that the Springhill Formation, across a 19 metre gross interval between 2,124 metres and 2,143 metres, is shallower than pre-drill prognoses had estimated, is potentially indicative of increased reservoir volumes situated above the water contact across the Campo Limite area, but confirmation of this will be the subject of future technical work.

MrMB, good point, that could well be possible, guess we need to wait see, either way it sounds like it may be good news.

Campo testing suspended awaiting specialists and specialist equipment to be brought into the country, well the equipment could already be there, flight bans do not apply to freight.
Much speculation regards what this specialist equipment might be, my own guess would be it is specialised testing equipment that can handle higher than normal pressures or volumes, ifso this would be a good indication of campo well potential.

I also hold MATD, no current production though they have an oil find they cannot afford to develop, sp 3.7p but bounces upto 8p from time to time.
No doubt our good times will return,

Thanks for clarifying, i thought you meant Partridge & Co had offices there.

Guess we need to follow the rules and complete testing campo well before announcing its commerciality or otherwise, but glad to hear you agree echo can service its debt without it, i guess thats a step forward, as for the workovers simply being a "to do" list i would agree, given the production increase from this "to do" work its a very worthwhile and profitable exercise that adds value.

Yes i can see the news that was reported a few months ago, as we all know the situation is evolving fast, also mr partridges inference was we need campo limite well to service our debt, i am not at all sure that is fact given the echo updates / RNS regards workovers.

Marky, i think most on here are aware that mr partridge can be economical with the the truth and facts, indeed he has a reputation for trying to "down" echo, for why i have no idea.
As an example his post also mentions the interest payments starting in 2021 but not a word said about our daily production rates which right now with the first 4 workovers stand around 2500 BOE/D and by the time the remaining 12 initial workovers are completed our daily production rate should be around 3500 BOE/D, i would have thought that sort of production was more than ample to service our debts and quite a bit to spare.
As for the campo limte well tests the team did sound quite excited and upbeat, need to wait see if we can add more daily production from this well also, on bright side we are told its a cheap & simple tie in to the Chilean pipeline.

Partridge, can you put a link up to where you see the "There is a ban on international flights to and from Argentina until September 2020. Due to the latest increase in Covid-19 cases in the region there is already a call to increase the ban for a further 2 months."
I ask as moments ago i was looking for Argentine lockdown info and i never saw anything about this.
Thanks in advance

judge, wish i could have hit recommend twice for your last post, will let you guess for why.
As for a fair echo sp right now i would have thought 2 to 3p was fair, if campo comes in at least a penny or two more on top of that, depends on what the results are.
trellis, i have no wish to appeal to your "feisty" side but with the Sound, Coro and Echo averages you have why would anyone listen to you.

Somm, as incoherent posts go your post below is up there. Far easier to understand is the fact that pre these 16 work overs Santa cruz was producing Q1 2020 at an average net rate of 2,394 boepd.
Add to that production of 884 boepd from the first 4 workovers already completed then add the expected production of an additional 7.2 MMscf/d and 1092 bbl/d from remaining 12 workovers identified, a few of these 12 will have already been worked on.
Add to the above the other workovers wells identified and mentioned during the recent Q&A and we have a tidy asset.
Normally an exploration company borrows money then goes out blind and drills holes in the hope of striking oil or gas, our MH has taken a different route, he borrowed money and bought a mature field which they are now maximising profits from by performing workovers, i dont mind how echo add value.
Like most i am looking forward to completion of testing on the Campo well, might that be the game changer or might one of the 3 TA drills be the game changer, guess we need to wait see.

trellis, i understand your concerns re debt however given you are now aware echo have 70% not 19% of the santa cruz production which after these workovers will equate to well over 3000 barrels of oil equivalent per day there should be no issues in servicing the loans / repayments.
Also you mention you distrust Argentina as a place within which to do business hence i would guess you are not invested here ?

trellis, apology accepted and appreciated, question is does this help change your mind regard echo future ?

Just another example of the half truths and downright misleading information being posted.

trellis: your comment below, we own now 19% ???

Our time will come.
Given our daily Santa Cruz production Q1 2020 at an average net rate of 2,394 boepd plus additional production potential of 884 boepd from the first 4 workovers. Then we can add on an additional combined 7.2 MMscf/d and 1092 bbl/d from the remaining 12 work overs.

Offcourse it will come all the sooner if campo news is positive, maybe not so long to wait for this to turn round.

Untility, i doubt anyone expects this to turn around in a week or two, even a month or two, however i am reasonably sure it will not take years as you suggest, then i guess that depends what price an investor is hoping for.
I admit to being upbeat on the recent information released regard workovers etc, i never expected much out of Bolivia so that does not disapoint, should Campo Limite well turn out to be a dud or thin coal seam i will start to worry, as for the 3 TA drills who knows, we may strike lucky, exploration is a gamble.
Apologies if you feel hard done by but lets face it, your thoughts are the same as most on here, guesswork.

Never ceases to amaze me that we drop huge amount when buy vs sell roughly the same yet when we have huge amount of buys vs sales we increase a few points only,
Welcome to ECHOs world.

I might be missing something but as far as i see it, assuming we get the 4 million VAT refund and we already have 1 million plus in bank plus money from the sale of gas and oil produced every month and lets not forget production is increasing with every workover, it seems to me we are in ok money position for the 3 TA drills, especially so now we have reduced contribution for each of these drills, agreed we have loans and i understand we agreed to reimburse Petrolera El Trebol SA .
Maybe i am missing something, ifso i would be grateful if those saying we need money can clarify.