Member Info for MrMarkyB

I have spotted a few things from the Q1 2020 presentation,

Echo did a presentation to YPFB on Rio Salado in Oct 2019

The JEA & TEA Term is 1 year from 12th October 2018, + 180 days, so by my calculating this expires around the 16th April 2020. I guess we could see an update on this being monetisation/exploration/extension shortly

Yes I am still holding Noah, but I am very cautious now. The new presentation encouraging but the current sp/mcap is just crazy. We are at the mercy of the MM, it is all such a con really. You would never see such manipulation on ftse100,250 etc
People lose serious money and it should really be stamped on but it never will be. I have invested in AIM for around 5 years and I think the tide is turning as people realise how the lifestyle CEO's #JP cream so much money off people and move into other investing opportunities.
I for one will not be investing in any other company on AIM when I leave ECHO, and will increase my property portfolio....can't go wrong with bricks and mortar!!! I purchased my last property (my main residence now) in the last recession and got £30k off the ask (which was around 15%...)

I cannot believe the SP, the mcap matches the cost of seismic we've just paid for.....jesus!!!

I believe the COS is 60-70%, it's my guess that its gas migrated from a zone producing across the border in Chile

We actually own a work over rig, came with PA. I can’t see they will frack them all, more overhaul beam pump etc or install an ESP.
But any revenue will just be for running costs etc, TA the prize

Why do they use the term, “increase share holder value”! I’ve seen nothing but the opposite for well over a year! Are they taking the P**s! Someone unloading today

We will forever get battered because of sou and JP’s and Marco involvement here. MH from what we are told had a good career at Rothschild but he could easily get tarred with the same brush as JP, but then they go on to make money elsewhere anyway. Our mcap very poor, 3 more drills, new seismic, producing asset and still old Bolivia in the background! That’s way behind schedule for monetisation. Unless they can pull a rabbit out the hat won’t see much movement unless the Santa Cruz drill comes in

I emailed Sarah back along, no reply. Waste of time IMO, when I read the RNSs, that response, it’s sit on the fence stuff to me. I won’t be attending the time with the team, will be busy at work. Will just be more spin.
IMO things just don’t add up at the mo. Not happy, look at the sp! A joke

I personally don’t think the information they have given us very satisfactory in comparison to the past. Where’s the updated target play from the “new” seismic. We had flow rates from the test, but at what pressures, what actually is the reserve of gas in theses zones. Should be quite standard data from a test don’t you think?
Read his reply! Does not change lack of commerciality, from the RNS from memory they are considering other zones! Frack again! But twice the amount.

Well it looks like the chat on the share ended now, poor show from echo, very reminiscent of the last few years. Will come back if we have any good news or something to whinge at!
Will leave you to the wine and port chat.

Looking at the speed of drill action, with 2nd TA in H2, and the date of MH options vesting realistically looking at 12-24 months here now..Great, that will add to the 4-5 years I've been here now, back draw time for these!!

I am now very sceptical on this share, seems like de ja vue, being told very little!!! considering we spent all that money on seismic, £7m, we have not been told nothing at all on updated prospects!!
The well test information pretty pathetic compared to industry norms in well testing (reference my previous comment yesterday), have they just stuck a cheap flow meter on the pipe!
I will continue to hold but will not invest anymore, I see time with the team announced on twitter, but I am not going to attend to listen to spin yet again.
As others have commented this will be my last AIM investment.

The information today seems very loose, why do I say that. Checking back on one of the drills last year where we were the operator it had an extended well test, the detail was much greater; it include flow rates, which were much greater, but it also include the pressure of the flows and that gauges were lowered into the well for a period of lock in tests.

From all this data, 3D of the area, core samples (to gain porosity data) and other industry tables the gas reserves were computed volumetrically!! We have not had that here yet! seems strange why not.

For a gas reservoir without any oil , the engineering or volumetric formula is

Standard cubic feet of gas = Volume of gas reservoir in acre foot (multiplied) reservoir porosity (multiplied) water saturation (multiplied) recovery factor (derived from reservoir drive and permeability) (divided by) gas formation volume factor.

Equation from one of my books.

So why has this not been performed on this well? I am no gas industry expert but a quick search online I have found data suggesting wells can produce at lower flow rates than we have. Pressure another important quantity as we have to connect to a pipeline and that will have a minimum acceptable pressure, however compressors can be installed. Ultimately it's the volume of gas which is converted to cash receipts!!

The question is can they improve flow by fracking the same areas again but to a much greater extent.
I find the lack of consistency so frustrating......or is information being held back.....looking at what has happened at sou I am now becoming more sceptical.
I have followed sound for many years and well aware of the action group that trellis has established, perhaps you may need to look at similar here very shortly....just a thought

During sounds drilling campaign they hit £700m+ mcap, highest we achieved last year £50-60m mcap, now at around £10m mcap, the mind boggles.
But then as mentioned the JP and Fumagali effect our biggest problem.
The data we have received very loose, pretty much investing blind. I am still optimistic but seriously regretting not walking away last year with £30k profit....ah well....I guess another 12 months wait now, 18 until completion of the asset extension...

Trellis are you still invested here or just here to spread doom and gloom?

I guess they try to minimise costs by targeting two zones only to achieve commercial flow, so now they will re-appraise and make a decision. Be interesting to know the anticipated volume

It was the Mag 20 tested not Mag 60 with higher gas shows PPM.

We still have Santa Cruz and 3 more drills on TA so all is not lost and will continue holding

GLA

In looking over the RNS i appreciate that the flow rate is below commercial level, but what about the volume of gas or are they unable to prove that!
However only 2 zones were "stimulated/tested" where as there were 6 zones of interest. Check out the RNS 12th Dec.
They had peak flow combined of 0.85 MM and average 0.6 MM, to be optimistic I would like to think they will do additional work on this well. As it states they have shut the well in and monitor head pressure.

From the 12th Dec RNS
The upper secondary target ("Mag 60" or "Lobe G") was encountered at 1,977 metres. Within this package two fine-grained sandstones have been identified that coincide with elevated gas shows of 109,900 parts per million ("ppm") and 149,500 ppm against a background of 16,500 ppm.



The primary target ("Mag 20" or "Lobe C") was encountered at 2,181 metres and coincided with elevated gas shows of 72,900 ppm and 80,300 ppm in the uppermost 15 metres within a fine-grained sandstone. Two cores, of 19 metres each, were taken over the primary target between 2,185 metres and 2,223 metres with 100 per cent recovery. Further analyses will be undertaken on the cores, but the lower of the cores showed a well-developed fine-grained sand in the bottom 10 metres.

Dam shame, looks like they will consider another region to test/frack in the week to hopefully increase above 1mm. Disappointed on the wait for next spud as well. Can see this will go into 2021 now, another years wait. Let’s hope Santa Cruz is positive and planned WO raise the revenues

My sentiments exactly WT, we are now over the schedule but not by much.
CGC have vast experience so we should sit back and cross our finger that good news will come.
So far IMO MH has been by far better than Fi and hope that continues.
TA was always the big prize here from day one and it's just about 3 years from when that was released so hopefully the wait will be worth it and we will all be reward, but at the end of the day it all depends on what the drill bit finds!!!
GLA