focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
panda1 - gas... I think each well would provide ~ 4bcf and they were planning a few wells to achieve 18-19bcf. cyclone79 - fiona did mention it but i can't remember exactly what she said - may have been waiting on availability of rig... apologies i'd a couple of beers on train on the way to the event and a couple during the event :D
My understanding is they are still planning the additional work-overs - part of it is due to planning/availability of rigs from CGC. There is likely to be about 4-5 work-overs (sorry i can't remember the exact number - but fiona drew a good diagram showing they were quite in close proximity to each other with aim of increasing the total flow rate to improve profitability
The event was quite informal - was good to meet Geoff / Fiona / Sarah. Yes Saleem was there filming - so expect it to be online at some stage. The explanations of the planned additional workers and the geology of the various sites was quite interesting. There was a Q&A session over dinner / beer / wine which wasn't filmed, but there wasn't anything new discussed, although it was good for getting to know the personalities and background to the team.
Echo Energy I mentioned Echo briefly yesterday but with little time to go through the announcement I wanted to flesh it out a bit today after a chat with the CEO. The complication in the well was that whilst the Springhill reservoir was showing only limited gas shows leading one to believe that a better chance may be up dip, the Tobifera was oil bearing in thin beds. When the test rig arrives on site it will establish whether the oil will flow here and given the well came in at 2/3 of budgeted cost it is not money wasted. The company will drill the third well which is another Springhill/Tobifera play after which all options remain open to the company. The fourth well was certainly de-risked by the first well which leaves all options open for the company as it looks at this well programme’s results as well as the successes achieved in the workover programme on Fracción D. With the drilling programme 2/2 Echo is having a good start to its campaign in Argentina and with good value too.
The Vox Markets app is pretty good for that
Need 120 for a multibagger... come on!
Have you not read the website, agkglg? https://www.echoenergyplc.com/our-portfolio/
I asked about the warrants during the last Q&A, and this was the response I got from Will Holland: "The total value of the warrants has a cash value of over �30m. This needs to be included in any company valuation as well as the additional shares. The work programme this summer has they ability to significantly drive the share price."
Jobbinscl, I meant for immediate term - to drive home the fact that the deal is completed, and to reiterate the fact that ECHO is now generating income, of which the market cap does not seem reflective of. The work-overs and especially exploratory drills are obviously going to be a the main drivers for the SP in medium term