Member Info for bobbbyrash

Good job our gas is sold on fixed contracts then .

That was just for Feb and march. What about the last 12 months? The gas is on a fixed contract. Which is the majority of our revenue!

I totally agree Goza. This cannot be swept under the carpet. We have had 18 months of positive RNS's at least and yet the one this week says we are nearly out of cash after having to temporarily reduce production. The reduced numbers are still very decent figures btw. We have been told time and time again that free cash would be reinvested to grow production and yet we hear nothing about the workovers. This nerds investigating by the authorities.

From 7th July 2022 RNS

Martin Hull, Chief Executive Officer of Echo, commented:



"Following a strong H1 2022 of production, we are pleased to announce an important and material step in the Company's strategy to deliver organic growth from the Santa Cruz Sur assets. The ability to now materially increase production levels from Santa Cruz Sur is a result of the right choices that were made during the Pandemic creating a strong operational platform on which to build. Having stabilised the business, we are now able to pivot the asset towards the current momentum in commodity prices. By significantly increasing production we drive a virtous circle of cash flow strengthening our financial position and providing additional potential for future growth. This is underpinned by the strong pipeline of identified opportunities within the Santa Cruz Sur asset base. We look forward to working with our Partners on this and to further update the market as our work programme progresses."

Where is the increase in production promised in this RNS? Has it all been blatent lies or what? We were supposed to be recycling cash flow into growing production???? Where has all the money gone?

From 24th March 2021 RNS

Martin Hull, Chief Executive Officer of Echo Energy, commented:



"We have previously commented on the improving market conditions for our business as commodity prices increase, and the Company's ability to secure these new contracts with industrial customers via a competitive auction process reflects the increasingly supportive commercial environment. It is encouraging to now go further and see the improved market conditions translate to tangible improvements in future revenue. We believe that as a result of these agreements, our contracted gas USD revenues for the year could be as much as 50 per cent higher when compared to May 2020 to April 2021, meaning they will deliver a material improvement in cashflow during 2021. We continue to pursue an innovative and flexible commercial strategy, enabling Echo to secure this type of premium pricing. These contracts also confirm that the Company is viewed as a reliable and attractive supplier to the Argentine industrial sector, and can achieve strong pricing for our output."

How come after all this time we haven't got $10 million in the bank?? Where is all the money from our production?? All this production revenue belongs to shareholders! We need an investigation.

From 1st October 2021 RNS

"The successful restructuring of the loan represents an important and positive step for the business as we continue to make great progress in 2021 both commercially and operationally. It materially reduces the near term cash outflow by delaying maturity whilst additionally reducing ongoing debt servicing costs, further strengthening our financial platform. These steps free additional resources to support our ongoing strategy of reinvestment in rapid payback production growth opportunities at a time of commodity price strength, reinforced by our attractively priced gas contracts. By investing in Echo at a more than 100% premium to the prevailing share price and agreeing to the lock up period, not only are the Lenders strengthening the balance sheet but also demonstrating confidence in the business and its strategy."

There are so many examples in previous RNS's it beggars belief. Where is all the money from our production??

Are any of our investors lawyers? I would say we've been blatantly lied to on multiple occasions. Can the nomad be held to account for releasing in accurate information? When are you going to show your face Martin and explain to shareholders wtf is going on? What about another bullsh*t interview on Directors Talk with Giles? We want some answers! You call this creating shareholder value? Are you seriously having a laugh?

Where's Martin the weasel? And JP the rat? Show your faces!!!!

Why did LO swap their debt for equity at 0.45p? Why didn't they just wait for echo to default on the repayments and take over the company? They have basically paid 0.45p for their shares and now selling them for 0.03p ???? Wtf is going on?

There is no way since the Feb 2nd RNS when everything was looking positive and the financial situation had massively improved has all the money disappeared. In just over 2 months. Oil is only a fraction of our revenue anyway! The majority of what we produce under long term contracts is gas! How the hell are we not making decent revenue now after all the "positive" statements from Mr Hull?? Where is the money Martin? We need an EGM ASAP and the clowns on the Board need to show their faces and explain exactly what's going on. Something stinks to high heaven here.

I think we'll be hearing about the forward plans very soon. Onwards and upwards at some point!

Schedulike maybe you should stop reminiscing about the past and look to the present and future of block energy. It is an absolute FACT that NOW we are producing at approx 150boepd MORE than the average of Q1 2022. That means all being well Q2 will the best quarter results yet for block energy. With the upcoming KRT 45 sidetrack hopefully adding plenty more production and so on. So far today £30k more buys than sells yet down 11% ?? It's just a matter of time. Come on PH let's be hearing the interview. Plenty of news coming up in next 3-4 months.

We could well be 10p if KRT 45 flows at 500bopd. All these sp predictions are just total speculation. What happens if we get the Pat E-1 sidetrack drilled by year end and it flows well and proves up 100bcf? Won't we then be 25p+?? One thing is for sure we are in for an exciting 12 months now we have meaningful cash flows from our current production! Roll on Q1 update on Monday morning!

Exactly grower. The sky is the limit or even Jupiter now. Plenty of free cash to fund the drills which will provide more cash for more work. We have hundreds and hundreds of millions of dollars worth of oil and gas under our feet and it feels now like we know how to get it out. I feel some major partnerships coming up very soon. I also am the most positive I've ever been about block now. Bigboffers 50p will be hit one day in the coming years in my opinion. Good update Monday morning and we should be up to 3p at least. This current sp is an absolute joke for our current revenue generation and massive potential across our licences. It's just a matter of time :-)

About time we started effing moving up. Earth to Martin. Anybody there? What about these fantasy workovers? Aaah sorry I forgot you are busy creating shareholder value.

The last Q results were released on the 16th Jan so if not in the morning then should be Monday.

Hopefully later today. Maybe ops update in the morning.

I think we all know with further drill success this is going to 10p and beyond. We are only at the start now.. let's hope for a busy year with multiple projects on the go and new partnerships being formed. Like a few have said, we should be 4p now at least!

Excellent news today and looking forward to Q1 update possibly tomorrow. Looks like little old Block is becoming an important player in the region. The sky is the limit in the next few years! Onwards and upwards!

https://oilprice.com/Latest-Energy-News/World-News/Turkey-Says-Its-Black-Sea-Natural-Gas-Discoveries-Are-Worth-Over-500-Billion.html

Is that anywhere near block? :-)