RE: Looking at half year report and the current MCAP this seems very cheap.17 Dec 2020 19:25
Echo has secured a new contract at a premium to prevailing spot market rates with a key gas customer from the producing Santa Cruz Sur assets, onshore Argentina for four months until end April 2021 pursuant to which the Company will supply the customer with approximately 1.8 MMscf/d gross (1.3 MMscf/d net to Echo) of natural gas.
‘In the absence of the new contract these volumes would have been sold to the spot market. The gas price under the contract is a flat $2.00 per mmbtu representing a significant 26% premium to the prevailing local spot price in November 2020’.