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NY, heās a pro, knows his stuff and does not deal in BS.
Heās impressed me hugely. We are fortunate indeed. Heās already done much of the heavy lifting but would like to see him reap the rewards and more importantly for us to retain him!!
FYI I hold just shy of 10m shares. I guess that puts me in the larger PI shareholder club. Rest assured I wonāt be selling anytime soon!
I think our Merry Band of committed Echo PIs have for better or worse since Dec somewhat drained, if not ākilledā the free float here.
I sense a lot of the liquidity has vanished here with a relatively small number of PIs now holding big chunks of what was the free-float. With production only likely to increase this year (discounting any wildcat drill success & Iād incl CL in this) I see a conservative 2-3p range nailed on for interims. If these āInstlā PIs retain confidence in the Exec of the strategy and with that their core holdings, we could get into the range v quickly indeed and in the case of wildcat success, overshoot significantly.
Bonkers auction after the close- someoneās after whatever they can get at these low prices. A suitor after our Bolivia package phaps?
Interesting times ahead for sure.
3-4p if CL flow is half decent. If good flow we could be looking at a not so mini Springhill āplayā across what sounds like several sqkm of 30-60ft conventional sands. Plenty to go after should that be the case. Busy year ahead for sure.
NYF, thanks for coming back. Your point about CL spot on regards itās vicinity- they clearly liked what they saw with the drill bit but, given flow issues with tighter rock zones locally - like Tobifera are keeping their guard until testing is completed. Rightly so, but if it flows well I reckon the seismic must be pointing to a seam of Springhill to exploit across a wide area. Springhill is absolutely the way forward, would be very surprised if CL does not contribute in some way (large or small) to NT production. I have a good vibe about this well and what it signals.
But still one heck of a gap to fill...
Could be quite a year especially as I believe we could see an oil price spike if ME / OPEC production remains as tight as it is. Also stoked by under investment in upstream activity.
Listening to that interview with Martin again in the light of recent developments, I really do believe we have a CEO (for once) who says what he means AND means what he says! What a breath of fresh air.
This man knows his stuff, and clear to me as an sure others, heās putting his knowledge to good use.
With sort of talent at the helm weāre in for an interesting and exciting journey over the coming years. This guy is sharp and has clear intent.
Pash, ECHO will be back to 2,500boeod way before interims, and we there will be upside, what we donāt yet know is how much upside.
The MCap is indeed laughable, yes, but letās be clear, the business was priced to fail during COVID with shockingly discounted oil prices at the time. Going fwd the picture couldnāt be more different. OPEC and OPEC+ took a tough lesson. The game plan now will be close control over production and play the mkt like a flute!
Look whatās happened to ocean freight rates... just sayingā...
I think plenty of us that boat but if you believe the narrative you have to down average when bottomed out. Core holding must now be ~10m with average buy price around 2p
Brent price recovery is a real eye-popper. Seems production is going to be much more closely managed going fwd. Who would bet against $70+ by y/e? I think more likely than not.
Plenty more news to come I think.
Campo Limite successfully targeted the Springhill, be intriguing to see what it offers, there is significant scale to the environs so would expect reserves as well as production to get a shot the arm from success.
Would expect testing to begin before March.
Given the size of finds in our Bolivian locality, MH may opt for a minority interest perhaps as little as 10% but how much will be dictated by ops and production from SCS.
Weāre all impatient, but the team will be flat out on the work over programme and canāt be far from 2,500boepd (net) again now - and we know thereās good upside to that. 3k+ will provide good cash flow and optionality, just a pity western TA isnāt a 2H project.
Reason this is so significant is we have leverage - very apparent our block in Bolivia is a āW1ā postcode and was always worth a good deal more than what one bb joker referenced as ā..worth little more than a can of beansā. LOL indeed
Clear said joker had not done their research. ECHO have this asset packaged months ago and great news that weāve bagged the interest of a significant regional player. It may be tough and deep to drill, but local successes have been stellar with very similar geo. Be in no doubt is among the most exciting emerging gas regions of the world.
E x c i t i n g n e w s
Top marks again to Martin and the local team. I continue to be impressed by MH. Great leadership and financial mgt skill on display.
Thereās been a pattern to recent dayās trading with MMs gently easing stock into the market, and a buyer at .56 or thereabouts. Once the seller is out/churn concluded weāll step up again. Weāre coming from a desperately low base. Bit of patience needed.
Way too cheap, given production upside and where oil and gas prices are heading -crazy. OPEC+ are going to keep a lid on production this time round, no doubt about that!
Target 2p by Easter and if Limite flows well, 3p (min). 2021 shaping-up nicely.
Cold northern hemisphere winter ahead bodes well for gas demand, donāt we just know it in Eastern England, but temps have been well below zero across E. Europe for many weeks now.
Weāll need just a little more patience for that Limite result, but the interval was nailed (as expected) and a good interval at that in the conventional Springhill which has a habit of giving, rather than taking away ;)
Champion arrows- from the cheap seats.
- Outstanding loan note imminent. (Possible if not highly likely the renegotiation was conditional on the last fund raise)
2. Bolivia - it may be deep but recent successes in the v close proximity will now have the attention of majors/state owned players.
Donāt get shaken-out by these shenanigans.
Slightly suspicious trading early on from what we saw btw Xmas and NY. I wonder; might someone want an option on our block in Bolivia? Evidence would appear to suggest weāre sitting over something of an abundance of gas in our postal district. āFree carryā terms would light the proverbial touch paper before weāre greedily snapped up. Left of field perhaps but I wouldnāt discount it.
Proximity to infrastructure from SCS is good and certainly not onerous. This is big country not protected rain forest. ..though in an effort not to upset any locals you might want to interview a sample from the local population of sheep, which I understand are a derivative Welsh breed Taffy ;)
The first interest is commercial flow - end of. So put the daggers away and let the full picture present itself, as it surely will in the coming weeks with or without the accompaniment of incessant ābleatingā ;)