Member Info for E_AL

I just topped up, the Mcap is ridiculously low at the moment.

"The vast majority of the revenue shortfall in 2022 is now expected to be recognised in 2023."

Indeed mannnan, the current MCap is equivalent to the purchase price announced in yesterday’s RNS ! In other words, the company itself is at zero value!!

the current share price is heavily undervalued ….

@Chadster, I just listened to the interview with the CEO, Martin Hull.

This was the transcript of the interview:

CEO: We actually announced was two new gas sales contracts where we've locked in prices and volumes for the next 12 months. The sales under these contracts actually start in may this year and they'll end in April 2024.

The committed volume is 4.8 cubed million cubic feet a day, and the weighted average price is four dollars and 48 cents per mmbt. You importantly that's an increase in last year.

Another important feature is that the and it's really a very positive feature is that the buyers will pay a cash advance of a million dollars gross that is available money available to us now, even though sales don't actually start until May and there's no financing costs associated with that cash.

Additionally, we're building flexibility in terms of volumes. So we've got a guaranteed buyer and a price but lots of flexibility to make sales on the spot Market if those prices go higher.

I think these contract deliver three key things the prices up on last year in a tough Market where International prices have recently weakened. That's a real win and increased prices mean increased revenue and it will boost our cash flow and that goes straight to shareholder value. Or so we're getting The Upfront cash advance of a million dollars Grace that is paid now without any costs and that's a great way to fund a business like ours and to fund our growth strategy. We can put that money to work straight away driving production growth.

And lastly, there's the volume flexibility and the advantage of that is huge in some ways. We're getting the Best of Both Worlds. We're getting downside protection with the guarantee price, but we're also getting upside exposure.

With the flexibility around the volumes and looking at seasonal gas market like Argentina where there are big swings between summer and winter gas prices it that flexibility allows us to trade our gas and to take advantage of the best possible price at any given moment.

The full transcript is here: https://file.io/qXOiGxsW9vfI

Only £500 worth of shares is currently available on the ASK , I think the ASK will move up very soon

Yeah Laura, 0.42 to buy as little as £1100 of ECHO on IG

55,156,436 is around 1% of the company’s overall shares!

No mate it was a buy, if you check the sells yesterday before 2:00pm, they were at 0.04 then you have a 12.8m sell at 0.38

25-Apr-23 14:14:07 0.0381 12,876,760 Sell* 4,906

Then this transaction at 0.43 then the buying price jumps to 0.45 then 0.47

It’s a delayed buy from yesterday afternoon

That’s around 5% of the company’s overall shares. I think we’ll receive very Soon to confirm that LO is under the 3% threshold

@Norb interesting !

“ Energy: During 10 years, the company has developed a portfolio of assets related to the oil exploration and production, natural gas distribution and power generation and distribution”

Many seems to be loading up atm, another chunky buy just gone through which explains why it’s NT to buy:

18-Apr-23 08:57:38 0.04 24,500,000 Buy* £9,800

It looks like the sp hit rock bottom and will likely bounce back up from here

“ the Company has also received a proposal from a significant Argentine investor which has the potential to inject cash and an asset into the business. ”

The share price is above 8,30,50 days moving average. This is bullish and from looking at the technical chart I believe we’ll see some recovery here back to (at least) above 0.10

“ Planners’ views

IGas has argued that there is a “demonstrable need for oil in the UK”. It said developments like the new Glentworth site would increase energy security, bring new employment and generate tax revenue and business rates.

The planners said the proposal reflected government objectives of encouraging the recovery of indigenous oil supplies. They said:

“This proposal would therefore make a contribution towards meeting current and ongoing needs whilst the UK transitions towards a low carbon future.”

On climate change, the planners said:

“the Committee must apply planning policy as it currently stands and not on the basis of what those opposing the application for climate change reasons interpret the Government’s position to be.”

On landscape, council planners concluded:

“although this development would give rise to some adverse impacts on the visual appearance of the area during the earlier phases of development, the development is entirely reversible in nature and, following the construction, Page 66 testing and production period, the site can be decommissioned and fully restored to an after-use that would be appropriate and assimilate well into the wider landscape.”

On traffic, the planners said if changes to the lorry route were agreed, the road network would be appropriate and “ensure that this proposal would not result in a severe and unacceptable impact on highway safety”. They recommended a designated route that prevented lorries using the part of Northlands Road that runs east from the site entrance towards Northlands Road.

On noise, the planners said drilling noise at the nearest homes would be within levels set by national planning policy and would “not result in an unacceptable harm to residential amenity”.

On wildlife, they said objections about insufficient information on improvements to biodiversity were not enough to reuse the application.”

Why the sudden sp drop?

Nice chunky buys !

30-Mar-23 16:38:59 25.70 50,000 £12.85k
30-Mar-23 16:37:14 25.50 75,000 £19.13k
30-Mar-23 15:24:45 25.50 100,000 £25.50k

They are buys , I’m getting 0.822 quotes to buy & 0.81 to sell

Yesterdays buys were at the same price too.

Helx2
Posts: 1,051
Price: 0.0825
No Opinion
RE: Buy appears as SellThu 12:50
yeah - my two are:

0.08225 4,971,417
0.08225 5,028,583

It looks like the placees want to derisk some of the invested money.............

Echo’s sp is like a coiled spring waiting for the right moment to bounce very high up! The company's revenue is multiple times the current MCap ….

What was the sp considered to clear off the company’s debt in the recent debt for equity swap? Exactly!