Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yep a very good day today. Folk finally taking notice of what's going on here.
Gas prices still around $7 mmbtu and our new contracts about to start in 10 days. Gonna be a huge premium and a huge hike in revenue.
Still only £8 million mcap for a company producing c. 1,500 boepd.
This has got A LOT of room to move still.
Yep a very good day today. Folk finally taking notice of what's going on here.
Gas prices still around $7 mmbtu and our new contracts about to start in 10 days. Gonna be a huge premium and a huge hike in revenue.
Still only £8 million mcap for a company producing c. 1,500 boepd.
This has got A LOT of room to move still.
Hope everyone is enjoying the long easter weekend.
Expecting big things for echo this week. Hopefully can break 0.50p tomorrow and then keep moving. More interest coming our way and not surprising.
New gas contract is imminent and the current gas price of $7.32 mmbtu cannot be ignored. Huge increase in revenues coming which will be the catalyst to get production levels increasing.
Thanks for the cross ramping there Seav, everyone already knows about EOG as it's all over twitter. I suspect a few are in for a surprise there as I see it coming down to 2.30 / 2.40p level over next couple of weeks.
Their drill is months away and it's got ahead of itself imo so a pull back is on the cards.
Defo ready for a big re-rate here. Can't believe still virtually no buyers about.
As a comparison, OEX has just secured a gas contract of $7.32 mmbtu coming out of their Cambay gas field. Obviously different country etc but just gives an indication of the sort of gas contracts being secured at the moment.
Our last one was for $2.64 mmbtu...huge premium coming.
I'm amazed how quiet it is, huge gas contract about to be renewed at massive premium to current price and there's barely any buys at all.
Already producing c.1,500 boepd as well so when new gas contract announced they new revenue stream will be huge.
I think a couple of people did go to the QA and last week. I joined the telegram group and someone did a couple of posts about it.
Surprised there's not more buying tbh with the new gas contract announcement any day now.
Gonna be a huge hike in contract value with current price at a whopping $6.77 mmbtu! We currently command $2.64 mmbtu from last years contract.
Crazy the amount of cash that ECHO is going to be generating.
Yet all i can see coming in are a few poxy sells.
Unbelievable!!
If warrants are exercised then yes they could potentially stifle a rise. However the lowest price of this block admission is 0.65p which is approx 40% from current sp so bit more leg room yet.
You also need to think that the company must be relatively confident good things are about to happen + of course warrant conversions means more cash for the company.
As expected DELT making a decent move up today. EOG seems to be the darling of twitter but DELT has their drill in Q2 and partnering with oil major SHELL so big things about to happen.
Also due the results of 3D seismic with CAIRN anytime in Q2 so newsflow about to begin.
After a quiet couple of weeks I think things are going to pick up here again this week. News is defo due here on the upcoming Pensacola drill with Shell in Q2, rig news or any drill dates and this will be 4p + easy.
Paying premium of 3.20p late yesterday which shows you where this is going.
Gas prices currently at $6.32 mmbtu and our current contract is set at $2.64 mmbtu.
It's clear that when the new contract is signed it's going to be a huge premium to current contract. Surely going to be the catalyst to get the sp moving again. The market will not be able to ignore the huge revenues compared to mcap being generated.
Yep there has been no indication of a placing and it's already been confirmed they have more than enough cash to pay for their share of the drill.
But a few folks now trying to spread a bit of fear with the placing rumour which is why i suspect we have dipped back to 3p and not many buyers around now.
EOG has become the new darling of the North Sea yet we are drilling way before they are.
They gave a Production update at the beginning of the week so i expect they'll talk a bit about that and about what the future plans are.
I also expect them to re-iterate how how gas prices are currently and what it will mean to the new gas contracts.