Member Info for ARahim

tombil1, I understand that echo have more than 1 m in January and that being spent to the last 100,000 but the new upfront 1m they could not have started spending it but it will be projected in the new financial year. so this is why it is not accounted for in the last report. You can not practically spend money coming next year in this year but what they have done is to spend more from their previous reserves knowing that they have a secure 1m by the next two months or so.

As at 17 April 2023, the Company's UK cash balances are less than £0.1m albeit the Company expects a revenue receipt net to Echo of approximately ARS$ 135 million (c.£0.5m) in Argentina on or around the end of April.

The one million advance is in the new financial year, as the contract it relates to. They could not have spent it already in the previous financial year.
so balance would be £100,000.00 + £500,000.00 + £1,000,000.00 = £1,600,000.00.
+ extra cash would come from the new contract and
possible entry into new tender to cover more demand as eluded to in the last RNS.

Volume is still dropping. short term holders bailed out already. This is very good news for sp movement up as there will be little half way sales.

I am full to the brim.
in fact only my eyes can pop up from the pile of shares I an in.
I feel rich and soon I will be ..

late traders need to bail out and volume drop to nothing before the trend changes slowly towards up and up and up.
MMs are in the front seat now and they know those frail fingers saying:
if only it return to 0.04 I will sell. I made a quick loss here
I don't know why people think others are not good enough to understand these facts.
It is highly oversold and this is why most are here and it needs low volume trade to start moving up
It wont generate a quick profit till the mob are out.

today volume suggest LO is at its last bits. today is the last day for his shares. End of day scramble may materialize today.
sit tight and enjoy.

sham189, this is your second post in this stock. You don't have a clue of the facts and yet you are providing advice.
shame on you!!!

it was 1p two days ago and 0.15 last week and now 0.03p strange stock!!!
The most variable in the market so far.

when LO is fully out of the way, this should return to 0.75p easily given the average level of production .
yes 0.75p not 0.075p. Mcap should be 50m not the thin 2m we reached thanks to LO sales.
with no debt and with production averaging 10m less cost 5m net profit should be 5m even if it is reinvested in production expansion. at the moment they are unable to sell all they can produce and they have to find a solution to this. Will LO continue to sell? this is what keeps investors out for a while.

Inflation reduces buying power hence it reduces demand for commodities such as oil and gas.

babbbyrash, it seems the problem is not production related but sales problem. They are unable to sell what they produced this is why they shut some well temporarily.

we have the right to ask where is the money since there are no new well but they shut few of them temporarily.
the sales drop is only effecting limited period as they said sales are picking up again 'winter'.

Net gas production averaged 6.3 MMscf/d during Q1 2023, which was down on Q4 2022 levels (Q4 2022: 7.3 MMscf/d) as a result of facilities maintenance, to allow for increased future facilities uptime, which was carried out across several assets (Oceano, Cerro Note & Campo Bremen) during Q1 2023 and before the onset of winter in the southern hemisphere.



Net liquids production in Q1 2023 averaged 213 bopd, a reduction of c.29% on the Q4 2022 average of 298 bopd, as a result of an overstock of fuel oil within the Argentinian domestic market during February and March. As a result, and with a number of customers either reducing or suspending liquid offtake from the Joint Venture, the Santa Cruz Sur partners took the commercial decision to temporarily shut in several oil wells at Campo Molino. This had the impact of reducing aggregate liquids sales volumes by around 72% in Q1 2023 (Q1 2023: 7,803 boe) when compared to Q4 2022. The domestic market situation now appears to be improving with a number of sales from Santa Cruz Sur having already taken place during April.

bobbbyrash, good questions. I can add the fact that if there is no debt to pay interest to so where is the income is going. It is large for wages and office expenses only!
LO selling huge amount but it was bought by share holders. who are they? they don't seem to be reacting to the share price drops. I can imagine if all share sold by LO are in the hands of small holders echo could have experienced much much large trade volume. I guess they being transferred 'sold' to other larger investors but bellow the 3% required for announcements. previously I though LO are selling to offset tax gains elsewhere. they could have done this as well but not for all shares?
There must be a group of buyers not reacting to share price movement as they are long term holders. We are already being sod or what?

It is a shame that we could not sell to the point of shutting down few wells. Argentina is in the same nightmare for more than a century. The same non responsible folks pushing their country into debt without a second thought time and time again. We have to sign long term contract and that will eat into profits or hire some of those clever Nigerian shadow refineries and sell petrol on the road side. What could a new investor do except to sell petrol to tankers and that will need stockade from our side as these tankers need a lot in one go.
still hope of turning around with the right solution: that is contracts or serious stock build up to activate more wells.

If you are a true holder you should know this.
https://www.bennettgraphics.com/dont-shoot-your-food-a-sales-and-marketing-lesson-learned-from-john-wayne/

0.01% of syme shares trades today. It must be some new traders dancing on the board chats and gut feelings!!

Niobium and Tantalum!! they sound Russian to me!! where is gold for god sake.

it seems echo still in business just to pay the loan. Nothing tangible in the foreseeable future for pi. except of course the sp continuous decline. I wonder what is the renewable energy bit is doing or why it was there in the first place.

could be the next scramble next Monday. volume today 880000000. that is 1.5% the highest in a weeks. look at the silent buys in the background. at 0.047 all.

Friday volume 1%
Monday volume 0.5%
Tuesday volume 0.3%
Today volume still less than 0.01%
It could be the turning point that everyone here could be telling stories about in the next 50 years. How they missed to invest in this low prices.
It is enough for syme to fill some orders to keep afloat. the volume comes next. we are in the stage of proving this concepts is working. once this done, popularity takes hold. It is tough financial time but new ideas if proven they can go further.