The debt13 Dec 2020 11:47
Will become insignificent this year probably in Q2 when interest rates start to increase along with the price of oil. Ill like to hear Martin discuss further our lifting costs and our ratio oil to gas and how he sees it panning out over the next 12 months.
This arrangement is expected to reduce gross monthly operating expenditure by around US$100,000 when compared to the previous lease arrangement, as well as providing security for future gas production.
Santa Cruz Sur: CLix-1001 Update
Echo Energy, the Latin American focused upstream oil and gas company, provides a further update on the Campo Limite exploration well (CLix-1001) drilled in the in the Palermo Aike concession of the Company's Santa Cruz Sur ("SCS") assets.
The Company is pleased to announce that CLix-1001 has now been confirmed to have identified the top of its primary target, the Springhill Formation, some 28 metres above pre-drill prognoses and 58 metres above the interpreted regional water contact zone within the area.
The fact that the Springhill Formation, across a 19 metre gross interval between 2,124 metres and 2,143 metres, is shallower than pre-drill prognoses had estimated, is potentially indicative of increased reservoir volumes situated above the water contact across the Campo Limite area, but confirmation of this will be the subject of future technical work
Lots to look foward too. Campo Limite well is not factored in here and opens up a new gas region according to Martin