Member Info for E_AL

I’m a PI investor in this company so my presence on this board is justified, stop beating around the bush and answer a a simple question:

Why have you shared 1000+ posts (so far) on Echo Energy’s board, a company which you are not investing in & criticize day and night?!!! We just don’t get it !

Helx2, you are not the only one who cant understand why ranger104uk has been posting non-stop (1000+ posts !!) on this board ...............

“ So for all intents & purpose you're not an investor here... and yet you spend your retirement only ever posting in this board (sarcastically I might add) about how bad ECHO are doing & how bad the company is run... and you've posted over 1,000 times mate...

why? - surely you have better things to do in your time-out?”

Still no answer … ..

Instead of disregarding Helx2's question, it might be worthwhile to consider providing him with thoughtful response. Given your 1000+ posts dedicated to this board , it's clear that you have a vested interest and a valid reason for your presence here…..

I just submitted my AGM vote. If you hold a position via HL (Hargreaves Lansdown), then you will be able to vote by following the steps:

1· Log in online at www . hl . co . uk

2· Select ‘view shareholder meetings’ which you’ll find under the link to your secure messages on the right hand side of the screen, please ensure you are accessing this on a computer, as this will not work through the app

3· Click the ‘give instruction’ link next to the relevant shareholder meeting

4· Give your vote for the resolutions and hit submit

Will do, thanks John

I hold my Echo position in HL , anyone knows how can I vote electronically? Thank you

The Río Salado license surrounds the Huayco block and is located in the south of Bolivia, approximately 290 kilometers (km) south of the city of Sucre and 60 km east of Tarija.

Link: https://www.halconesypalomas.com/2023/05/26/britanica-echo-perforara-campo-nuevo-mana-en-colombia-mientras-interoil-le-adquirio-65-de-participacion-en-concesiones-en-argentina/

The Norwegian company InterOil, which operates oil and gas fields in Colombia, signed a purchase and sale contract where it agreed to acquire 65% more stake and aggregate assets from the British Echo Energy Plc in five operating concessions located in the Province of Santa Cruz, Argentina.

The exploration and exploitation concessions are CA-10 "Palermo Aike", CA-9 "Océano", CA-6 "Chorrillos", CA-4 "Moy Aike" and CA-1 "Campo Bremen".

The British oil company Echo Energy, led by James Parsons - former executive of the Royal Dutch Shell Group in Brazil, the Dominican Republic, Scandinavia, the Netherlands and London - would enter Colombia as a product of the sale of these licenses.

As part of this operation, Interoil will grant the British Echo an option to drill an exploratory well in Campo Nuevo (Maná) Colombia, and recover twice the cost through a 35% share in production, leaving after such recovery with the right to 10% of the production.

In addition, it delivers a purchase option on the Colombian assets of Interoil exercisable if the company exercises the drilling option.

The option of entering Colombia gives the British oil company the opportunity to rebuild the E&P portfolio in a new territory that does not suffer from economic and macro-inflationary factors such as the one that Argentina is currently experiencing.

"It is a much more business-friendly jurisdiction with a vibrant small and medium-cap exploration and production sector, an exciting growth opportunity," Echo said.

It is important to highlight that, if you accept the option to buy Colombian assets, this would also represent Interoil's departure from the coffee country.

Echo Energy Plc (Echo), founded in 2005 and established in London, England, is a medium-cap gas exploration company that operates mainly in the oil and gas sector, with a portfolio focused on the onshore Austral basin, Argentina.

Echo Energy is led by James Parsons, president of AIM with more than 20 years of experience in the fields of strategy, administration, finance and corporate development.

He is currently president of Corcel plc, Ascent Resources plc and Echo Energy plc. He is a qualified accountant and has a bachelor's degree with honors in Business Economics.

Echo's segments include the Corporate and Administrative, Argentina and Bolivia. Santa Cruz Sur is a set of five production concessions located in the Austral onshore basin, in southern Argentina. The assets are located to the northeast and southeast of its Tapi Aike exploration block. The license portfolio consists of 12 oil and gas producing fields with existing infrastructures that allow the supply of oil and gas to local, national and international export markets.

The Huayco and Río Salado blocks are located in southern Bolivia, in the sub-line foothills of the Tarija basin. The region is a hydrocarbon province with gas resources of several trillion cubic feet (Tcf). The Río Salado license surrounds the Huay

IG just quoted me 0.039 to buy £2k. It looks like the sp is ready to move

“the Directors unanimously recommend that the Shareholders vote in favour of the Resolution to be proposed at the General Meeting”

They need the majority of the shareholders to vote in favour of the resolution and since we don’t have major shareholders left after LO offloaded their position. IMO the sp has been kept ridiculously low so some parties can build positions here to get the vote in favour of the deal… surely we’ll see big buys going though going forward

Good finding abzzba

“Furthermore, the Buyers will enter into a Guarantee Assistance Agreement at Closing to provide a guarantee to cover Echo’s remaining 5% interest in the joint venture; and

Also, at Closing IOX shall enter into an option agreement with Echo granting Echo an option to drill an exploratory well at Campo Nuevo (Maná) Colombia during a term of 5 years as from Closing, and to recover twice the cost through a 35% stake in the production, remaining after such recovery with the right to 10% of production (the “Drilling Option”), as well as a purchase option over Interoil’s Colombian assets exercisable if Echo had exercised the Drilling Option, and after completion and testing the exploratory well, at consideration amounting to the valuation made by a recognized international investment bank appointed by the Buyers.

”

A nice chunky buy just pooped up

26-May-23 08:43:01 0.035 28,968,260 Unknown* 0.03 0.035 £9,994

" the Proposed Disposal as a pathway to address the Company's near-term funding challenge by enabling the Company to transfer to the Buyers the significant in-country creditors that had built up during the COVID-19 period and providing access to funding for the Santa Cruz assets."

"How much debt have we got rid of through the deal "

Read the RNS:

" the Proposed Disposal as a pathway to address the Company's near-term funding challenge by enabling the Company>>>>> to transfer to the Buyers the significant in-country creditors

"The only thing that is guaranteed is the executives and directors will get their over inflated salaries month in month "

From today's RNS:

"The Company is introducing a series of cash preservation measures to ensure the funding from this transaction is preserved whilst the Company seeks to grow the business through the acquisition of new oil & gas and energy assets and / or the exercise of the existing Options. These measures include the current VP Exploration and Chief Financial Officer leaving Company service whilst a new Chief Operation Officer is being recruited, on a consultancy basis initially. The Directors also intend to take a portion of both their historic accrued salaries / fees and their forward salaries / fees in shares."

The share price has finally broke the 8 Days Moving Average on the daily chart & the 8,30, 50,100 and 200 Days Moving Average on 1 hour tech chart which are bullish signs for some tech chart traders to buy

“ This transaction fundamentally:

· Addresses the Company's near-term funding challenges by providing near term funding, enabling the Company >>>> to walk away from the significant in-country creditors

No need mate, you are doing a great job in posting every other comment on this board hahaha

Member Info for ranger104uk

Posts(Last 30 Days): 52

Share Chat Post Distribution over the last 30 days

Echo Energy (ECHO): 52 comments

Yes my buy is showing as a sell