Member Info for abzzba

Think we are all a bit frustrated watching the price go down like it has, cant say i was enthralled with the Q&A either but look on it as on opportunity to average down if you believe it will come good later in the year, my own thoughts are we will look back at this in a 3 or 4 months with shares that are worth a lot more and if La Bomba gushes oil we will be well pleased and rewarded.

Agree with you, they seem quite laid back which is in keeping with the share price. As for Q&A it was more like questions & no answers. Still confident, assuming i live long enough :)

https://www.echoenergyplc.com/investors/time-with-the-team/

In answer to your question it appears so.

The first workover result must be imminent, CSo-2001(d) well test RNS was 28th August, FM stated 3 workovers within 6 weeks, the rig would not have been required for final stages of testing so could have been away from CSo-2001(d) location several days before the RNS was released, if you look at the Edison report exhibit 15 well map (page 11 of the report) the three workovers are adjacent to CSo-2001(d) so the rig did not have far to move, pure guess work offcourse but i live in hope of some good news Edison article link below.

https://www.edisoninvestmentresearch.com/?ACT=19&ID=21819&dir=sectorreports&field=19&utm_campaign=1276826_Exploration%20watch%20-%20Argetina%2021082018&utm_medium=email&utm_source=Edison%20Investment%20Research%20Limited&dm_i=2PWO,RD7E,2HAJC7,2SXHY,1

Quiet day, little disappointed no first workover RNS but could well be tomorrow given we have time with the team.

16 / 17p by the end of the three workovers which should be within the next 5 weeks based on FM timescales, then onto fracking 1004, a good result there could add 2p then onto 1001, logically we have at least two bites of the cherry with 1001, gas & oil, a poor result does not bear thinking about, a good result could see 30 / 33p and mid range result 23 / 27p, however there is also the possibility of a very good result, who knows what that might do to the SP, all pure guess work but i believe realistic. La Bomba is key to where this share is going this year.

Guess we will find out next week if this is Bullshxt, my own thoughts are by the end of the workovers we will be back around 16 / 17p,

Some light reading from Schlumberger on unconventional oil plays in Argentina, not specifically ECHO but has similarities.

https://www.slb.com/~/media/Files/industry_challenges/unconventional_gas/industry_articles/201407_ups_argentina_unconventional_arena.pdf

What makes it worse and corrupt in my eyes is not all those sells are sells, in this computerized age surely its possible to record a trade properly.

Either someone got a really good sell price of 12.50p or that 250k sell was a buy, answers on a postcard.

Cervelo, i need to polish up on my Fraccion C & D geography

Cervelo, agreed there has been nothing said about timescale of ELM 1004 fracking but as its in the same general area as the 3 x workovers which "may" also be fracked as part of the workover program it would seem likely it will be fracked before moving the rig to EMS 1001 location, rather than me trying to explain and typing see below link as general info on workovers.

https://medium.com/@marleerosegreasebook/workover-procedures-for-an-oil-gas-production-well-f21b8ba7d53c

Its also my opinion that FMs words and i quote "The focus of any plan will now concentrate on the dry gas of the Springhill Formation contained within the eastern flank of the field area to enable the right sizing of that project"
I am assuming this means the taps can be opened up to increase production from the eastern flank area of the field, IMHO only

To clarify & correct (wish they would give these wells real names)
These are EMS-1001 (La Bomba) & ELM-1004 (which needs fracked)

somm, you need to read 21st June RNS for ELM 1001 affectionately referred to as La Bomba on here, testing of 1001 will start after 3 x workovers in rigs current location and after ELM 1004 is fracked.
If you read the 21st June RNS you will understand why everyone is excited.

Can someone remind me what value FM put on 1 Trillion cubic feet of gas ?, saw it somewhere but cannot remember where.

I can see "Trillion" becoming my favorite word :)

Little disappointed with no RNS today but assuming the SP continues upwards sure i will get over it,

If memory serves each of the 4 exploratory drills were budgeted at 2 million but only cost 1.5 million each, that's a 2 million saving plus any saving on seismic, who knows, but sure we will find out soon, something good happening that's for sure.

Certainly sentiment has changed today, bodes well but not unexpected, so much good news due, hopefully starting tomorrow.

bobbyrash, i am not forgetting this, just i don't want to "count my barrels before they are drilled"