RE: Target price 0,50 GB10 May 2023 16:19
Martin Hull, Chief Executive Officer of Echo Energy said: "This is a transformational moment for the company as we look to put our recent challenges behind us and create a new, stronger and more financially robust platform from which to take the company forward. Not only does it immediately improve our balance sheet, it also brings optionality with the Colombian opportunity, as well as giving us continuing revenues, with additional upside should the Buyers of the asset interest be able to deliver the investment and production growth that our financial limitations have prevented us from doing."