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there is still enough cash for operations and any cost coverage even taking in account possible reduced production.
$23.5m or $20m is still enough for all needed operations.
MS stop scaring shareholders and deliver the operation update. we need to see figures that sets sp to its right position.

lokanraej, It is the luck of proper communication that is spreading uncertainty about what MH is capable of delivering.
Here we are more than two months after the last trade update and no news yet.
pipeline project delivered but outcome from putting it in action not being fed to the market yet.
How much production some start speculating it may be even lower.
form what we have at hand the last presentation states 1700 boepd and that is worth $23.5m. we have 10 wells suspended and they were producing 100 boepd but now they are back with expected production between 400 and 600 as stated in previous RNS. No confirmed news yet.
MH asking for the right to issue shares, in case the bondholders choose to convert the interest to shares or executing an acquisition, led some to believe:
issuing new shares is immanent, which is not the case. It is just a precautionary measure.
Or we may be producing less. which is all speculation built on the luck of communication.

What MH is doing with communication is really not right for shareholders, a tweet here and updating presentation with wrong figure there, corrected later, and a silence for two months now led to uncertainty. Plus of course the absence of news about any plan of action regarding progress on well in Bolivia and progress on 10 + 25 well waiting to be brought back in production. what have they done or generated is still in the black.
we need a solid RNS to wipe all speculations.

gaza, we are not playing hide and seek. CEO is managing the property of all shareholders not ny only. He needs to use proper methods of communication. No sneaky emails or phone calls.
few months ago we being told all payments are differed to 2025 and all of a sudden interest to be paid. although we have cash do that if needed, they are insisting on raising cash at this low sp. It stinks.
we need an RNS stating clearly cash in bank and monthly income and due bills. No more sp manipulation bull ****.
Get your house in order MH.

ny, it is not against you. we simply don't want martin to use sneaky ways to convey information. We have RNS method, or at least a twitter from him but not third party roomers using a phone or email that any one can copy.
If he contacted you really, this lead me to think that there will be no operations update RNS either as his twitter
https://twitter.com/echoenergyplc?lang=en
suggests he provided the updated information for Q3 in the presentation.
clearly this is not the best way to communicate with shareholders.
why on earth he has to RNS the GM and tweet the Q3 updates? are we not worth some direct information through RNS?
This is what led to sp decline. roomers and lack of RNSs.

ny, we don't want the brother of the bride in this board.
many in this bb including me emailed him few weeks ago and he was shy to respond to any. why should he respond to you?
All we want is a clear RNS detailing what we need no roomers please.
keep your **** to yourself ny or return to the freezing land.

should be before the GM.
It should clearly state cash in bank and cash monthly flow.
It would be nice to have some grip on costs and interest. are costs moving up or down. 'not special costs of course'
This will help reset sp to a new level accordingly.
to give clear position of echo and help shareholder to decide if they want an acquisition now at this price or the new price or not.

The RNS clearly says the allotment of share is going to be used to pay interest and possible financing of acquisition.
The current output without extra wells is equivalent to
1200*356*20 = $8,544,000.00 Gas and
600*356*70 = $14,952,000.00 for petrol
Total = $23.5 m previous year costs $10m + some extra costs $800,000.00 for pipes and $1m for pumps still we have at least
$10m to spare and it is more than enough for interest payment which should not be more than $4m.
In short we have at least $6m net profit after all costs.
It is obvious the planned acquisition is the main drive behind this RNS. They just can't see themselves as operations managers, they have to be strategic managers even at the expense of PIs.
some traders who bought lately lost the ball and start selling. Volume is very low.
what is it MH? good feed of news or no vote. choose your way. It is agley what you are doing by this complete silence.

hiding information about the contract with bond holders and now abstaining providing regular trade update.
And asking for the right to issue new shares. We need more control for shareholders. please do not give them the right to allot share if there are no good GOOD GOOD news after two weeks.
no more play with these monkeys.

we still have 3 weeks. This week and two more weeks. in the forth week form now on Tuesday we will have to make the correct decision. If they don't come with the proof they are doing things right in production and improving communication I don't see why they should have the resolution passed.
we have this week to wait for news and next week as well if nothing happened then these gays are take us shareholder for monkeys. we should act to prevent them from any further power to issue share.
better without them then to allow them to make what they wish.
They say it is in the interest of share holders yet they even do not respect the right of share holders in proper information.

we still waiting for the overdue news this week or next week.
This RNS is just a reminder of what the banks need to get for interest 'shares'. If they are happy with shares I will be happy as well. Banks do not accept discounted payments... we need news and PR to adjust sp to where it should be before any payments in equity take place.

allotment of shares to whom?
at this price? This is a very greedy move. they kept sp down to get plenty of warrants. and kept the information down to press shareholders to accept the allotment of shares to their possible new partners. certainly there is no need for cash for normal activities as they are not doing that match.
except if:
they are going to acquire a new exploration space .
or convert the bank loan to shares at this price, that will be a huge dilution for shareholders.
I am not going to the GM but I will not consent to them allotting share to any one at this price.
If good new between now and then moves the sp up to at least 2p. then allotting shares would be possible.

thanks somm for the clarifications, gas boe is equivalent to $22 today.
https://ycharts.com/indicators/boe_natural_gas_price
it is a bit confusing you are using a different unit '3.5 per boe'
the way I calculate it is :
for Monte Almond not yet announced is:
800*22*30 * 12 = $6,336,000.00
existing production
(12*22 + 6*70) * 100 * 30 * 12 = $24,624,000.00
roughly the same figure $30 m

mppotus, echo is in a better position now given that it has lots of well to bring back to production and increase production.
no expensive massive digging is needed.
1700 boepd now at current prices is almost $43m a year that is right. the link bellow provide by oiltrader confirms that. If any gas boe should be a bit higher in price as it is ready for consumption, no processing needed.
definitely echo is in better shape now.

average net daily production is 1700 boepd x 30days x 12 months x $70 is $42 840 000.00 a year. that is a nice progress.
out of the woods now.
is this true or am I dreaming?

New probably next week 'two months period'. Hoping for a big treat this time. keep faith.

The floor starts with a single drop.

BlainThrower, stop acting like a Rhino throwing sh*t all over the pond. I am invested and I don't have any use for your cr*p. It does not sell good. keep it to the clod winter spells. It may come handy for cooking.
Long live CTEA and we all have a nice growth with this beast in making.

ceta flags are all blue today. earl of aim flags are all red today.
Long live ceta. this is going to be a fun ride from here.

including shorters who claim to be ' tech savvy contributors '

will Amazon accept bitcoin as payment? will Amazon accept bitcoin holders as customers? well if it does not then there will be those who dose and Amazon will be history.
Long live ARB. Long live bitcoin. shorters to the hell.