Member Info for norb

As at 30 December 2021 the Company's unaudited cash balance, excluding Echo's 70% entitlement to cash balances held by the Santa Cruz Sur joint venture in Argentina, was approximately US$520,000

Anyone, any idea what the 70% interest actually represents in net worth ? It surely doesnt only contain cash or other current assets.

Whatever ECHO has tried to accomplish the last few months, it doesnt seem to increase gross production. Or what ?

I am only guessing, but they say 2.114 gross in Argentina. MMO should not count for much based on their monthly reports prior to the interest in SCS.

SCS probably somewhere between 1.800-2.000 boepd ?

SCS probably somewhere between 1.800-2.900 boepd ?

2.986 boepd is gross production from Argentina and Colombia combined.

Majority present in BH meetings decides according to BL agreements I have seen. This looks kind of messy.

I am not so sure about the roll over anymore as a given milestone.

They should have a strong financial partner in Integra also able to facilitate for progress. I also wonder if they are a major BH in ECHO.

BH`s meeting and their decision next week doesnt seem quite as obvious as before when I look into the tea leaves. SP is not behaving as it should ?

Do we still need to consider IG as an issue with impact on how the SP is performing ?

Just to clarify on my estimates. Good or bad. Total production in January from Santa Cruz based on the report from Interoil:

boepd=29.952*****(2.548 boepd less 50 boepd from other assets)/8,34% interest
bopd=2.634*****(270 bopd less 50 bopd from other assets)/8,34% interest

50 boepd/bopd is what they previously reported from their other Argentina assets.

This not very difficult. Total production from Santa Cruz should read 2.600-2700 in January based on the report from Interoil.

Correct, but even so their numbers should give you a fairly good idea on what to expect from ECHO/Santa Cruz.

You are correct. Its not possible to verify these numbers. But they were reporting 50 boepd/bopd on a regular basis from their other Argentinian assets prior to the acquisition of the 8,34% interest in Santa Cruz. I have no info which confirms a substantial increase. And its not very very likely they have been able to do so considering the global crisis going on for the last 12 months.

Interoils January production in Argentina which basically represents their 8,34% interest in Santa Cruz:

2.548 boepd
270 bopd

About equity. Any chance we could see conversion of debt (bonds) to equity as a feasible solution ?

For what its worth.

Interoil reported 40-50 BOEPD/BOPD on a regular basis from their Argentina assets prior to the acquisition of the 8,34% interest in the Santa Cruz Sur Assets.

So if we assume no major changes in prod from their other assets in Argentina, they reported the following numbers from Santa Cruz in November and December last year:

November 2.772 BOEPD / 233 BOPD
December 2.650 BOEPD / 249 BOPD

Total prod should then read:

November 33.237 BOEPD / 2.794 BOPD
December 31.775 BOEPD / 2.986 BOPD

The other assets are described here in their PM from April 2019
https://newsweb.oslobors.no/message/475487

The Mata Magallanes Oeste (production) and Cañadón Ramírez (exploration) are
adjacent blocks, covering nearly 380 square kilometers in the western part of
the highly productive Golfo San Jorge Basin in the southern part of Argentina.
This basin is said to hold approximately half of Argentina's gas reserves and
twenty per cent of the country's oil reserves. Interoil will become the operator
and hold an 80 percent working interest in these licenses in a joint venture
with Selva Maria Oil SA and Petrominera SE, the state-owned company of the
Chubut Province where the blocks are located.

The La Brea block (production) covers 112 square kilometers in the Jujuy
Province in the Northern Argentina, and comprises two promising structures, La
Brea Este and El Oculto. Interoil will also become the operator and hold 80
percent working interest in a joint venture with Selva Maria Oil SA and JEMSE,
the state-owned company of the Province of Jujuy.

I am a shareholder in Interoil listed at OSX, but I have divested and transferred some of the funds to ECHO. Not sure why if you ask, but I am hoping to see a better return here long term than to wait for a successfull outcome of their operations in Colombia which are not progressing as expected. I have also been thinking if we could see some kind of consolidation between Interoil and Echo since the largest shareholder in Interoil also holds an interest in Echo assets, while Interoil also have other assets in Argentina.