Member Info for abzzba

Certainly looking good today, lets hope it can be sustained.

think i will wait for lower

even better if there will be no well tests post fracking.

The dictator would curse the diaspora who managed to curb the four-iron signing (easy) of a recovery program with the IMF, as recommended to the six countries of the CEMAC, in late December 2016, in Yaoundé, at the end a meeting attended by CEMAC heads of state, Christine Lagarde, the patron saint of the IMF, and Michel Sapin, François Hollande's Minister of Economy at the time. The devaluation of the CFA F to correct the deep degradation of the accounts of the CEMAC countries having been rejected by the six heads of state, it remained the solution of a direct negotiation with the IMF, and individually. To date, only Congo-Brazzaville and Equatorial Guinea have not yet signed. And not for the same reasons.

Congo-Brazzaville has been two years behind in signing the program. Taking into account the activism of the local opposition, the national civil society and the diaspora, who flooded (there is no other word) the office of Christine Lagarde of correspondence some more alarming than the others the financial situation of the country, which was a financial situation that had nothing to do with the official documents that the Government transmitted to the IMF, the officials of this institution took into account, admittedly, very diplomatically, but, by refusing, firmly not to sign anything until all the information (debts granted directly by the State or indirectly by its dismemberments) were not put on the table. The government (after dragging its feet) has executed and the IMF, there is no fear to say that "the current debt of Congo is not sustainable."
Indeed, the count of the recent mission of the IMF in Brazzaville, reports a debt that would be around 200% of GDP (three times higher than the accepted norm of 70% of GDP). This figure does not take into account the fact that not all domestic debt is fully capitalized and is increasing every day: unpaid wages, unpaid pensions, etc., all things that continue to to weigh up briskly.

Admittedly, the signing of an agreement is not far, the Congo, pressed from all sides, having no respite: at the CEMAC Summit held in N'Djamena, a few weeks ago, the Congo ( because of this situation) has been indexed as being the country delaying reforms in the sub-region. The dictator who personally attended the Summit was asked to take his country's case to the IMF. His pride would have taken a hit, he who lent everything is money to West African countries in 2013 and 2014 (Guinea, Niger, Ivory Coast, Mali, etc.), even marveling at the IMF which is the main role.

That said, the IMF warned that the agreement could be signed, but on two conditions: the dictator had (absolutely) to hold a dialogue (not exclusive) with all the forces of the country in order to leave a sheet consensual road. Subsequently, it was necessary to appoint a government of national unity (with all oppositions and civil society) to ensure the implementation of this sheet of any. For the IMF, it is the minimum condition for the money to co

egg, i laid out "my expected" timescales below but would expect the fuse to be lit on this long before February and that's got nothing to do with doji haramis or even tea bags.

I confirmed with ECHO that mechanical stimulation is indeed just fracking, fracking of a well does not take long, 3 to 5 days per well but we need to remember 1001 has two intervals to be fracked so this will take longer, as for results its pure guesswork right now, even ECHO cannot answer that but if EMS 1001 gave really good results this SP will be history, we also need to remember that well testing might take sometime and it could easily take us into February before test results are released for 1001, ELM results will no doubt appear first and i think these will be available January assuming its fracked first. ALL IMHO as i am certainly no expert.

Lets for a moment wonder what EMS 1001 might bring to the party if it turns out to be less than transformational, there are still a lot of lovely adjectives out there like huge, massive etc etc, fact is its unlikely to be anything other than great news for ECHO.

For info i e mailed ECHO 8.20 am Saturday and they replied 4 hours later saying they would find out the answer to my question, 9.06 am Monday i received the answer.

Would be nice if LSE added another tab to these post, Reply ! Recommend ! Report & TIT

Certainly time to batten down the hatches

Would agree with that, hopefully we will get more buying in the run up to "mechanical stimulation" of EMS & ELM.

There may actually be a case for ECHO & their partner buying and sharing the cost of a rig, agreed they are not cheap but neither is loss of income while waiting on a rig to finish a contract with another operator, lets remember we are not talking about deep water semi sub rig here such as used by BP West of Shetland we are speaking land rig which is a fraction of the cost.
That said lets hope ECHO & partner do not consider buying their new toy for the foreseeable future, sure we can wait until ECHO are mid cap company and have enough cash in the bank.

No idea if these are contenders or not

Maybe :)

ChezNous, you will find the Gaffney Cline report for these wells on page 73 of the below report,

WT, think you misread the report, the rig was moved 30m and a second well-bore (TA.X-1 bis) drilled, that's 30 m not 30 km.
Report can be found at below link ref page 22.

https://www.echoenergyplc.com/media/1260/2017-12-18-admission_document_web.pdf

Think our CEO has learned from previous mistakes not to overplay our hand, simple as that,

Certainly good news that stimulation of EMS & ELM will start sooner, might be a good xmas yet

malkis, i was not considering selling, luckily i can wait this out, might even add a few if it gets down real low.

There is one guaranteed way to get the price to shoot up, i could sell all my shares in the hope of buying back in at a cheaper price, no doubt as soon as i sold it would rocket.