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In my opinion this company should be getting investigated as to why they are giving a company which should be profitable away for less than 2 mil when probably earned roughly 20 mil last year . I say roughly because we don’t get told what and where we are up to

Read the last two lines applied to working capitol of santa cruz.

one upfront payment nearly buys us out what would the other 65 percent for the year under the contract give us

The Contracts have an initial term of 12 months, with gas sales under the Contracts beginning in May 2023. The Contracts provide gross 6.8 MMscf/d of committed production (4.8 MMscf/d net to Echo) at an increased average price of US$4.48 per Mmbtu for the 2023-2024 period (compared with US$4.33 per Mmbtu for the previous period). In addition, an upfront gross cash payment of US$1 million (US$0.7 million, net to Echo) will immediately be paid and applied towards the working capital of the Santa Cruz joint venture.

Doesn't seems planned all along to much money has disappeared from this company and that is why they probably can't let it go bust because then the regulators will be forced to look into this in my opinion of course .

like where is this the money from feb which they got up front from the gas contract ?

Now correct me if wrong but was told in house dept was down to 5 mil ish they should be taking roughly 2o mil though the year from gas and oil

still not tested the well from before covid and not to forget we have already paid millions out on field upgrades .

puzzled is not the word

Also with jp own words

This transaction would enable the Company to retain a much smaller interest in Santa Cruz Sur, whilst also seeing the Company’s liability for the previously announced significant in- country creditors and other liabilities reduced significantly. In addition, the transaction would see the Buyers providing in country licence financial guarantees and would also provide the Company with a potentially attractive entry point into Columbia. The cash proceeds secure the financial position of the Company in the short term and the retained interest, additional contingent payments and interest in Interoil provide continuing exposure to what is expected to be a much improved future outlook for the asset, given the proposed new investment, potential license extension and new conditional gas sales contracts also announced.

What is don t understand is how they expect shareholders to vote this thou with no deal in place as states below Additionally, the transaction is intended to provide, subject to the future agreement of terms between the parties, the Company with the ability to acquire an interest in Interoil’s Colombian assets (for a consideration and on terms to be agreed in future) after drilling and testing of an exploration well on the Maná Concessions. The Company can recover twice the cost of that well from associated production.

I completely agree abzzba

Then after sorting most of the problems out and starting to make money (inflation before any one says has been high most of the time since the 1950 s) long contracts signed for gas the company can finally start to show profit for the first year . the company is getting given away for less than couple of months earnings

The Company also notes that Argentina's National Secretary of Energy has extended its Gas Plan regime to the Santa Cruz basin (Gas Plan 5.2). The Gas Plan enables companies to tender for long-term contracts lasting until December 2028. The Company's local subsidiaries are on the authorised list of potential participants, and the closing date for submission of tenders is 30 April 2023.

He also said this in feb

The Company's unaudited cash balance as at 2 January 2023 was US$1.1 million.

Martin Hull, Chief Executive of Echo, commented: "We are very pleased to see our financial and commercial positions continuing to improve and provide firmer foundations for our growth strategy, as we look to increase production and revenues across our asset base. These enhanced gas sales contracts will contribute to that process while the decrease in our joint venture creditors contributes to a stronger financial footing for Echo as we grow the business."

Https://t.co/TuWuaK1sku

copy and paste

Have to copy and paste won't let me put up link thou directors talk interview in feb

Https://t.co/TuWuaK1sku

watch this then you will know why i have been mislead as a investor remember know interview https://*************************/status/1622647409611534338?s=20

This is how i see it

they are down to roughly 5m dept gas contracts signed at a decent price roughly i think 20 mil a year earnings 70 percent interest so no can't understand why we are in trouble and can't understand why we would sell

For they last two years in every rns when giving the company shares away he is always excited is no one on twitter to spread the word and try to stop it or at least get the company looked into

Abzzba i know things go on but from what looked like and told in rns was a recovering company getting rid of most dept starting to turn profit new gas contracts signed only in feb to this is wrong and needs investigating

Seems it has been set up for someone else to make money and us shareholders pay for it

Shaml89 agree completely how to report is the next question which i am looking into now

they should of at least told us about any deal in Colombia before the sale