Member Info for ARahim

if we have a nice share of the GOV covid pass that would put sp at a nice price. I don't know how much but it should be 5p at lease. I know this will heart some people here but this is life. Risk takers always get a share of win or loss but not those sitting on the side a barking on sp to stay down.

dooms day prophets are championing this board now.
what dark pleasures are you getting from this stupid contribution. a very sad board indeed!!

with total liquids sales net to Echo in quarter four to date of 16,855 bbls:
That is 16855/60 = 280 bopd ~ $20,000.00 a day
so we moved from 130 bopd >> 224 when we added the first well '75bopd' >> 280 bopd
another well is brought into production without being reported.
next update we may see another two well brought in with ~total liquids 430 bopd not bad we are going to be rewarded soon.

MH, is a shy person, he can't even face the camera and preferer to talk very little. 3 months instead of 2 months reporting period confirm this. WO are not expected all to be easy to make. They may encounter rusted encasing that need more time to be replaced. At the moment Echo is making at least 3.5 million profit a year. That will change with the first 2-3 successful WO.
Then Echo will be easily able to cover payments for debt and make profit. end of Feb 2021 we expect a strong update on WO and income.

well the stupid ones are those wasting their time on something they don't believe on.

Ranger , try to be realistic and refrain from this childish behaviour. we can see clearly you are stalking every comment that does not come to your liking. Echo is just doing fine, may be not enough to move sp at the moment but that will come with volume production. workovers are not that simple as we all thought.

you are not right Rare_Groove, it is just a coincidence. It this company gets a gov contract you will see sp heading the other direction. At the moment it is a gamble for both boss and shareholders.

definitely reported production does not contain any new well except the first one ;75 bopd.

Today RNS conveys assurance that production is growing month on month especially liquids, gas will be always affected by seasons up and down. This RNS asks from share holders to give them more time to report consistent figures. 3 Months production report is just a way to say to traders stay off we are not going to dance at your tune. I expect echo to start consolidation from here slowly building on increased confidence as we go.

Thank you abzzba for all your efforts, echo is definitely on the right path. If you keep all the information you gather about echo in one location and ordered, we can post it from time to time to keep new investors well informed. This supposed to be the work of MH and friends but they seem not bothered at all with the local events. They are looking at the wider picture and the bank too. I can easily see echo well above the 5p soon.

ranger, don't count that much on lockdown for the new strain. It will be a moderate one till it is well under control then it is all growth as expected. I wonder why some 'third world countries' managed to ride the first wave with minimum loss but the so called developed economies received the maximum deaths. All what they lack is some discipline regarding social life and they have to learn to reduce exposure. The most hit nations are those with little social restriction.

oil prices are down because USA China Japan India and South Korea reduced their demand and started using their strategic reserves. This will not last for long. If OPEC + chose to reduce production as a tit for tat then I will expect oil prices to jump well above 100 after one to two months. these countries can not run their economies without strategic reserves for ever. They have to increase their demand soon. Besides they are competing against each other they are not one unit.

as to covid new strain fears, I don't rule out these big economies news are participating in the scare mongering to reduce oil prices. I wont be long to see Covid all together wiped out.

ranger,
I believe that OPEC + countries went through the tough time last year and they can reduce production further to preserve their rights. after all the reserves of USA China Japan India and South Korea are built in those soft prices period any offer of soft prices again will see prices down to earth. I think OPEC will stick to their guns no matter what the global economy. They are not responsible for Covid to bear all the costs by themselves. They 've being conned once, I don't think they are going to repeat it again, this is why they proposed to USA to increase production by themselves if they want more petrol.
The funniest thing is that USA contacted Russia to participate in increased production although it is against their interests.
at the moment OPEC are on 400,000 barrels increase each month, I won't be surprised to see them reverse that to -400,000 barrels or more a month. The big economies re getting giddier by the day.

OPEC Says To Biden: If You Want More Oil, Pump It Yourself
https://www.forbes.com/sites/arielcohen/2021/11/09/opec-says-to-biden-if-you-want-more-oil-pump-it-yourself/?sh=51dd0bff3efd
Now it seems Mr Biden and friends find a way to knock the prices by releasing their strategic stock but this will not last for ever as next week OPEC + meeting will be swift to reduce this artificial extra supply.
https://capital.com/brent-crude-oil-price?utm_medium=cpc&utm_source=googlesearch_desktop&utm_campaign=uk_en_desktop_commodity_oil_tightspreads&utm_term=oil%20market%20price&gclid=CjwKCAiAqIKNBhAIEiwAu_ZLDhV8chbqCjctVBD2SdWFBrkEM0K_mcXXAAHRc7W129aqa1diA_oHUxoClWgQAvD_BwE.
it was better for both parties to negotiate prices rather than start a supply war.

by the way the market drop in prices is caused by two factors:
1) new variant no one is sure how it will behave with excising vaccines.
2) the war started by Mr Joe Biden + china + India + south Korea and japan against OPEC + controls.
The first group decided to use their strategic reserves to reduce oil prices and OPEC + threatened to review its decision next week to reduce output to protect the price of oil.

abzzba, where did the extra output came from?
You said echo is producing 2114 bop... we being producing 1700 bop since last update plus 75 for the last well and 100 for the last 3 well that is 1875 pop.. are they bringing more wells without informing us?
234 bop difference is not negligible.

if we manage to get only 10% or those 20000 boepd then revenue will be 70M. not bad for 7m mcap. as you said maidit308 it is a buy hold and forget for a while. but sp has to start moving up with the confirmation of the second well input.

ranger, we have no business with Argentina economy. we are just selling petrol and gas at a global price. we are not selling hot beans at the corner shop.

small fluctuations in production are common but the overall production is increasing.
last two updates added 100 boppd and 75 boppd and still more wells to come.