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I couldn't help myself. Average down to 10.77p

I'm not surprised to see such a drop today. After all, a CEO "jumping ship" when she has such a large financial link to the business in the form of options sets off alarm bells. And as I have read below, andyarob has decided to sell now, and I am sure many others will join him. Frankly speaking, who can blame him! Investors have simply had enough.

However, the reality could be that as a non exec, she is keeping her options. On the other side, it could be that she was pushed rather than left under he own volition. The problem is that the communication is not clear enough to inform us of the full situation.
On the positive side, I have met Martin and spoken to him on a couple of occasions and he is truly a switched on guy.My impression is that he has his feet firmly on the ground, and to me, does not come across as a sales guy. What you see is what you get.
I would like to see some further news over the next couple of days from the company on how Fiona leaving will effect ongoing strategy of the business.

For me, the stock is now priced as an option and I do not see much point at exiting at such levels. Whilst there is still cash in the bank and positive cash flow, we have a chance of a recovery. Lets hope Martin is the right person to fulfill the potential.

With regards to the SP, with no RNS expected now until at least December, retail investors needing money for Christmas will likely continue to drive the price down further for the foreseeable future...

1’989’112

Dare I say it. Have all the sellers sold...? Have we hit the bottom...?

Nobody knows where this is going short term. To those calling out 5p- perhaps you are right- and good luck to you. But I would love to know which valuation matrix you have used to come up with that valuation? Do you have any other companies to recommend to me that are trading at such levels as I will be filling my boots up!
What isn’t talked about much in this forum is the incredibly low volumes being traded. Many of the sellers will be joe bloggs who probably shouldn’t have been invested in the first place but heard a good tip from their mate down the pub. I’ve seen it hundreds of times before. Simultaneously, the institutional investors are sitting on the sidelines waiting for more concrete news. The downward movement is therefore self perpetuating - the more it moves down, the nervous investors get more nervous and eventually sell.

My opinion is that there are a finite group who fall into this category and once they are out, they are out. Currently, somebody selling a couple of grand’s worth of the share is moving it down a couple of percent. This will not last for ever. It is this action that is causing the downward movement on no news. Sooner or later, it will stop (my guess is sooner!)

Hi Joe, couldn't agree more. The point is though that you understand the risk and have decided its worth taking a gamble. Im not sure how many pence you can lose per share is relevant: it depends how many shares you hold.

I am concerned for those that are pumping money in that they simply cannot afford to lose. And believe me, there are many of them!

Yolo - I bow to your knowledge: you knew that October would see the worst stock market month for more than 6 years due to the effects of trade tensions, geopolitics and rising Fed rates. And its uncanny that could foresee bombs being sent to leading Democrat party members whilst at the same time, Trump would threaten to pull out of historic nuclear weapons deals, pushing the globe towards all out war. Impressive...

Lets not lose focus that global markets are getting smashed - this downward movement is not isolated to Echo. For those of you panicking right now, take a step back and make sure you understand the risks of stock market investing, particularly AIM investing. There have been members of this board indicating life savings/pensions are invested in this stock: I truly hope that is bravado.
Echo is a gamble. End of. If all comes good with Tapi Aike, the returns could be huge. But there is still only a 30% chance of that happening.
I urge all of you who are topping up with every pay check to think long and hard about whether this is money you can afford to lose.

WT, you’re clearly a clever chap. And a fellow Welshman :)

Dodger, not sure I would agree with you. They have achieved an insane amount in a very short period of time. And I therefore feel the share price does not accurately represent the work done thus far. However, that clearly doesn't help us. It is where it is...

Marky, my understanding when I spoke to her was that the money in the bank and the drill she is referring to is the first well at TA. By the way, I think she is being deliberately conservative: there is enough cash in the bank for the first two drills at TA. Once investors realise the full potential, the stock could start to move rapidly in the right direction.Exciting times.

Trellis take deep breaths and calm down. I interviewed representatives of the company during the weekend. The answers to the questions were all in the public domain - I merely tried to get clarification on the current work overs and strategy going forward. The echo team professionally answered my questions whilst refusing to comment on share price action. Whilst they indicated there would be RNS out today, they would not talk about its content. Furthermore, the market has been closed as it was the weekend and the RNS has been given before market opening. Do you honestly think that such a professional team would not have considered regulation? What specifically do you think they have done wrong?
The one thing you got right is that it’s pointless to discuss further as you truly do seem to have made up your mind. Disappointing.

Thanks all for your feedback. I’ll be honest, I was considering exiting prior to the weekend but now I have renewed confidence in the Echo team. Fiona and James have a serious amount of energy and passion which is infectious. Furthermore, I was really impressed by Martin. He really knows his stuff and is clearly already working at 100% capacity. Whilst they do not like seeing the share price down at these levels, they know there is long term value in the assets.
I actually feel sorry for Fiona - I think she finds herself in a catch 22 situation. She wants to shout good news from the rooftops but the last thing she wants is a quick spike in the share price built on promises. There is a very fine balance in the wording used.
It’s easy for us as investors to get carried away with words such as “transformational”. And I suppose, if my hunch is correct and the four work overs provide 200 bodp of extra oil, that is transformational to the cash flow.
To me, having already $9mio of gross revenue per year being generated, further upside imminent, an estimated $20mio of cash in the bank, very cheap drilling opportunities (due to the geology of the area combined with the weak peso), plus Tapi Aike around the corner, this is an exciting story to be part of.
We know there is no guarantee of finding anything in Tapi Aike, but the 2-d seismic indicate that is very unlikely. In summary, if Tapi Aike fails, the company will be worth perhaps 30% less than currently. But if they hit the big one, it will be cigars and champagne all round.

The disappointed comment was for abzzba

Then I think you will be disappointed :(

Have had a very interesting and informative 48 hours in Antibes and have met with Fiona, Martin Hull, James Parsons and Marco Fumagalli. I have also met with many other investors. I think the first thing to say is that many of us have lost focus on what is the main play with this stock and that is, the Tapi Aike block. Echo already holds seismic 2-d on the area and from December, will be commencing 3-d seismic with a view to drilling early h2 2019. The amount of resources in this block are mind blowing and I for one am very excited. Of course, we need to be realistic and remember that there are no guarantees in this game!
All other opportunities leading to this are simply there to provide cash flow and value to help get to the big one. Current monthly revenues are high enough, and there is enough cash in the bank, to ensure (avoiding any disasters) the company can complete the seismic and, results being good, can drill at Tapi Aike. For me, this has brought much relief and any future work over results from Fracción D and Fracción C will only add to that positive momentum. Regarding the EMS well, i unserstand there will be rns out tomorrow.
I have seen some crazy expectations quoted of 600bopd from a single work over. Let’s not forget these are old wells and there is not chance of seeing such figures, I think that if all four wells contribute between 100-200 bopd, this will add some 20% to current oil production - meaning more cash in the bank and more opportunity for future exploration. That has to be good news. Furthermore, from what I’ve heard, a well needs to be in a production for a couple of weeks before a true representation of the production rate can be obtained - hence the reason rns isn’t immediately forthcoming in the first days after pumping.
We should not forget the other asset in the portfolio (Bolivia). As for the British ambassador photo, he jumped the gun somewhat! My understanding is that the Rio Salodo agreement was signed Friday night and there will be more RNS on that in the coming days.The Argentinian macro situation has a positive financial impact as all local costs are paid in peso, whilst all income is in usd (meaning cost savings of 20-25% this year). My personal belief however, is despite the weak peso being very good for echo, general negative Argentinian macro sentiment has dragged the share price down.
Other points are that fracking is due to start on EMS 1001 and ELM 1004 very shortly (2018).
The team told me that they are also looking for other opportunities outside of Argentina and Bolivia.
Finally, Repsol and Shell are still drilling near our average in Bolivia and are expected to finish in February. As our plot is bang between the two of them, any significant finds could make things extremely interesting for us as the value of our plot will automatically rise.In effect, Echo has a free ride on the back of these two giants.
I hope this is helpful for you all.

Have had a very interesting and informative 48 hours in Antibes and have met with Fiona, Martin Hull, James Parsons and Marco Fumagalli. I have also met with many other investors. I think the first thing to say is that many of us have lost focus on what is the main play with this stock and that is, the Tapi Aike block. Echo already holds seismic 2-d on the area and from December, will be commencing 3-d seismic with a view to drilling early h2 2019. The amount of resources in this block are mind blowing and I for one am very excited. Of course, we need to be realistic and remember that there are no guarantees in this game!
All other opportunities leading to this are simply there to provide cash flow and value to help get to the big one. Current monthly revenues are high enough, and there is enough cash in the bank, to ensure (avoiding any disasters) the company can complete the seismic and, results being good, can drill at Tapi Aike. For me, this has brought much relief and any future work over results from Fracción D and Fracción C will only add to that positive momentum. Regarding the EMS well, i unserstand there will be rns out tomorrow.
I have seen some crazy expectations quoted of 600bopd from a single work over. Let’s not forget these are old wells and there is not chance of seeing such figures, I think that if all four wells contribute between 100-200 bopd, this will add some 20% to current oil production - meaning more cash in the bank and more opportunity for future exploration. That has to be good news. Furthermore, from what I’ve heard, a well needs to be in a production for a couple of weeks before a true representation of the production rate can be obtained - hence the reason rns isn’t immediately forthcoming in the first days after pumping.
We should not forget the other asset in the portfolio (Bolivia). As for the British ambassador photo, he jumped the gun somewhat! My understanding is that the Rio Salodo agreement was signed Friday night and there will be more RNS on that in the coming days.The Argentinian macro situation has a positive financial impact as all local costs are paid in peso, whilst all income is in usd (meaning cost savings of 20-25% this year). My personal belief however, is despite the weak peso being very good for echo, general negative Argentinian macro sentiment has dragged the share price down.
Other points are that fracking is due to start on EMS 1001 and ELM 1004 very shortly (2018).
The team told me that they are also looking for other opportunities outside of Argentina and Bolivia.
Finally, Repsol and Shell are still drilling near our average in Bolivia and are expected to finish in February. As our plot is bang between the two of them, any significant finds could make things extremely interesting for us as the value of our plot will automatically rise.In effect, Echo has a free ride on the back of these two giants.
I hope this is helpful for you all.

I will be meeting Fiona this weekend during a private event. If anybody has any questions, i will try to find the time to ask her specifically. Please let me know

Haha I totally understand why you wouldnt - Im not sure I would. Its true though. I will definitely get more involved in the chat as I have a lot invested in this company - keep up the good work