Member Info for ARahim

grep, I did not ask about your opinion when invested and I will never do. who trusts a trader?

I wish gas as well in operated by santa cruze. that makes the proceeds double.

I am not telling you anything it is echo who is telling you that 70% or proceeds from santa cruse are still held by the operator.
Gas included or not? did not find any thin about that.

grep, we understood your intentions, that is enough now. The sp will go back to 0.46 tomorrow and stay there till news.
a seller today is not going to create the crash as you wish to buy your load. waiting for the final accounts. No thing will be hidden then.

I don't know if they control the gas sales as well. the cash will be delivered after final accounts.
the proceeds for liquid sales are ~ $500,000.00 a month this year.

As at 30 December 2021 the Company's unaudited cash balance, excluding Echo's 70% entitlement to cash balances held by the Santa Cruz Sur joint venture in Argentina, was approximately US$520,000.

in short if interoil hold 12 months liquids proceeds that is 6m if it is 6 months that is 3m.
echo have plenty of cash to do its business.

why should he invest if he has plenty to spend. not all people are keen to collect huge wealth to be satisfied.
It is a typical argument of unsure investors looking for positive clues to jump in. I know companies grow by 10 times and the COO was not invested. may be their relatives or nominal accounts.

well you said it grep, actually the monthly income form liquids alone is above 500,000 we have gas and more well and sooner some income from renewables..
the bank contribution to new project is just a payment to offset the waged monthly payments. soon you will see sp above 1p. and the bank getting his full.

if they are in trouble as you suggest why the bank in injecting cash in solar energy project. Do you think they are crazy like some posters here??

some of the cash is still with interoil as it will be delivered only on end of year 'accounts'. They are investing 1.2m cash in the new venture and still have plenty of cash to spend on existing projects.
read my previous posts and stop this crazy chicken business.

grepeck is active in advfn as well selling the same story. Echo is going bust. what a tw*t.

it seems there is an orchestrated attack on echo today. How a company go bust if it is generating a healthy cash and it has a strong growth in production and backed by a supporting Bank??
week share holders are an easy pray for speculation???

norb, the 70% to echo does contain the value of liquids produced by interoil on echo behalf. i don't know if it contains gas sales as well. I don't know for how many months it accumulates. As average echo has $512,000.00 a months from liquids alone. if interoil is holding 6 months that is $3m in the pot above the existing $500,000.00 within echo accounts.

eatstocks, renewables need just 1.8m from echo as investment, the bank already pledged 600,000.00. We already owe the Bank 20m or more. No one is exited about this investment in terms of growth or income, but as I see it it is just a bargaining chip with the bank or other parties we don't know yet. all we can do is wait and see what is the story behind it.
If the bank is happy to inject new cash that is good for me.

New investment in renewables is just like buying bonds. It is money in the bank but for longer term.
expect good news on either workovers or new gas find.

as I said before, Echo was under the obligation to pay monthly payments for the bank or allow the bank to invest at low prices.
This is a good sign, as the bank has faith in future sp and payments to be maid in the future.
It is clear good information was held for the last, as giving MH the right to issue shares was the precondition for moving forward with some serious work and news. Sp at this level is just a reflection of expected new shares at 0.46.
Will the bank sell cheap? No. They injected more cash to get a kill when good news start to flow in. New gas find!! workovers exceed expectations??
Only time will tell.

echo is active in Argentina and Bolivia. What pushed them to renewables in Chile is yet to be discovered. So far raising funds at this low sp benefited only the bank . This project is going to tie part of echo hard earned cash in renewables. After two years we start getting cash from this project. It is diversification in technology and geography the benefits still to be seen and this move need explanations.
We could have being paying monthly payments for the bank instead of allowing them to buy cheap.
The new gas project has the priority not renewables. But the bank has a say in this as well as they want to secure their payments and benefit from expected sp recovery when things get clearer.
what matters is liquids production in on the increase despite December strike.

was expected but not in renewable energy. Remember when:
1) MH talked about monthly interest payments to the bank and the need for the right to issue shares and warrants. This was to force shareholders to give him the right to issue share. I guess it was forced on him by the bank.
2) MH got the right to issue shares and the monthly payments gone.
3) MH issue shares on something echo don't need at least now. It was not in the interest of shareholders to see this investment go and shares issued at this price. The bank is the sole beneficiary from this game.
4) expected good news on end of Feb or first of March. Bank will be the first again to skim the benefits as happened before.

definitely there is more cash in the pot otherwise the bankers do not put more cash in new ventures.
It will be bright from here moving foreword. I guess our share in the new venture will be 70% of 2.6m that is 1.8 m probably all of it is available and the banks want just more hold in echo at this stupid prices.
Next report will be Mar 1st. It will highlight some of the missing bits.