Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The issue we have is no real news of progress will be released until the bond meeting has been finalized.
Next week we should be able to finally press ahead aslong as MH keeps to his word and presses ahead with the plan for this year.
We need an update on the proposed workovers and CL next.
Bolivia still on the cards and i do think something might come from that if the interested party has found something they like.
I would disregard Tapi Aike yet either, maybe another entry point for us?
Once the bond deal has been agreed then we will expect the news he news to flow.
there is obviously a plan in place to do this.
Hopefully next week we can finally press ahead.
Roll up Roll up get your £1 party tickets here!
The deal will pass, Its in the bond holders interests to keep this company going. Oil price recovering and they will be entering there winter soon which will demand a high price on the gas.
Once the bond deal has been confirmed id expect the news to start coming through on the other projects.
Lots of projects in the making but they wont release any info until this bind deal is out of the way in my opinion.
Herd gone quite/sold out until the deal has been fully committed.
expect a rush on the 30th as usual when the deal passes.
I agreed H2 2021 should be a good turn around for echo aslong as they commit to do the work they have stated!
Hopefully this runs smoothly and passes .
Expect a 100% rise as the herd and day traders take advantage of the situation and trade the crap out of it. This should mirror what happened last year with the bond meeting in my view. I would then expect it to drop off slightly during the week.
I might even break even at some point today lol.
I would say we will get the same reaction as we did last year when the bond was restructured. There will be a crazy day and we may well see a 50-100% but i do also believe we will get a retrace on trace during the week..
Haven’t posted for a bit due to other circumstances but will today.
I’m normally pro echo but the last two rns’s in my view are poor.
Bond update was well overdue and when you read we are pretty much shafted and under the thumb now with the bond holders, it’s pretty much sh*t or bust with that deal. Don’t get me wrong it’s needs to go through and most likely will but not on good terms for the share holders as more dilution will happen to cover it no doubt.
Today’s rns’s hasn’t shown any real increase in production as the figures are the same as 2020 pretty much. What happened to increasing production? Great to see the infrastructure getting an upgrade but that will take a while as they need to go through a procurement process so I’d expect this project to finish late summer.
These rns’s seem rushed and put together to give us something to keep the sp from dropping further.
I needed 5p to achieve my dream from this share and like many I am waiting to see real progress. As luck would have it I’ve now achieved my dream without the need for echo to pull through so effectively this is now a free ride for me.
I still feel something will come good of this share but it won’t be until the end of the year by this rate as there not exactly giving us anything to really excited about as things seem to be stalling.
Anyway let’s see how the market reacts to this.
I follow this share only because of its connection with echo, sou etc. I feel for the investors, you lot have been absolutely shafted on this deal.
That is a ridiculous fund raise for a company that made a £300 loss last term.
I hope this one bounces back but its going to take some time.
Oil prices rallied again on Thursday to hit 13-month highs as concerns that a rare cold snap in Texas could disrupt U.S. crude output for days or even weeks prompted fresh buying.
Brent crude climbed 89 cents, or 1.4%, to $65.23 a barrel by 0524 GMT, touching its highest since Jan. 20, 2020. U.S. West Texas Intermediate (WTI) crude futures gained 66 cents, or 1.1%, to $61.80 a barrel, registering its highest since Jan. 8, 2020.
Both benchmarks rose about $1 on Wednesday and have gained more than 6% since their close last Thursday.
Texas oil producers and refiners remained shut for a fifth day on Wednesday after several days of blistering cold, and the governor ordered a ban on natural gas exports from the state to try to speed the restoration of power.
Roughly 1 million barrels per day (bpd) of crude production has been shut, according to Wood Mackenzie analysts, and it could be weeks before it is fully restored.
Oil prices got a boost again from expectations that the disruptions of Texas oil producers and refiners due to the cold storm could last for a while,” said Hiroyuki Kikukawa, general manager of research at Nissan Securities.
“With hopes of fresh U.S. economic stimulus and wider rollouts of the COVID-19 vaccine, oil prices are expected to stay on the bullish trend,” he said, predicting that WTI could test a key $65 level.
In addition, a larger-than-anticipated draw in the U.S. crude oil inventories added to supply concerns, said Chiyoki Chen, chief analyst at Sunward Trading.
U.S. crude oil stocks fell by 5.8 million barrels in the week to Feb. 12 to about 468 million barrels, compared with analysts’ expectations for a draw of 2.4 million barrels, American Petroleum Institute data showed.
U.S. Energy Information Administration (EIA) oil inventory data will be released later on Thursday, delayed by a day after a Monday holiday.
Oil’s price rally in recent months has also been supported by a tightening of global supplies, due largely to production cuts from the Organization of the Petroleum Exporting Countries (OPEC) and allied producers in the OPEC+ grouping that includes Russia.
OPEC+ sources told Reuters the group’s producers are likely to ease curbs on supply after April given the recovery in prices.
Just wanted to highlight the difference the increase of the oil price means to echo.
Loong back at a previous pre covid rns it we were averaging 17,333 barrels of oil per month.
Last year the average price for the year looks to be around $42. ( I'm only using the average for the year )
Last Year Average, 17,333 x $42 = $727,986 ( $8,735832 per annum )
January, 17,333 x $55 = $953.315, ( $11,439,780 per annum at this average )
February, 17,333 x $60 = $1,039,980, ( $12,479760 at current average ) - extra $1 million per year with just a $5 increase.
This is only going on previous barrels pre covid at the santa cruz asset. There planning on bringing more wells online so these figures could be a lot more. Also I'm only looking at the oil, we have a lot of GAS down there too.
Just goes to show the importance of a good oil price and what this can for for echo going forward.
Currently we are making more on gross than our current mcap and that's only on the oil!
Once we get confirmed figures then I can really see the sp rerating to a more realistic figure for our company value.
Still looking strong - $61.08
If this continues we could be looking at an average price of over $60 for the month which would be a cracking result.
January average was around $55 so an extra $5 on the barrel for us is a good jump on revenue.
I too would be disappointed if no other forms of work have been carried out over the last 6 months. I would like to think though something has been done during this time.
the only reason the oil wells might not have been started on was because the barrel price last year was too low to justify bring the wells back online as they would make sense to me.
Oil prices were mixed on Monday to their highest in over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus.
Brent rose $1.22, or 2.1%, to settle at $60.56 a barrel, while U.S. West Texas Intermediate rose $1.12, or 2%, to settle at $57.97 a barrel. Both benchmarks were at the highest since January 2020.
“Managing to breach $60 again feels like the market is finally resurfacing after the long struggle and (taking) a proper breath,” said Rystad Energy’s vice president for oil markets Paola Rodriguez Masiu. “It offers a feeling of normality again.”
Brent and WTI have risen more than 60% since the start of November due to optimism around coronavirus vaccine distributions as well as production cuts from OPEC+ members.
“There seems to be a paradigm shift in the market,” said analyst at Price Futures Group in Chicago. “There is a sense that the glut of oil supply is disappearing more rapidly than anybody thought possible.”
Saudi Arabia pledged extra supply cuts in February and March following reductions by other members of the Organization of the Petroleum Exporting Countries and its allies.
In a sign that prompt supplies are tightening, the six-month Brent spread hit a high of $2.54 on Monday, its widest since January last year, a signal of demand for current supply.
OCBC economist Howie Lee said the world’s top exporter Saudi Arabia sent a “very bullish signal” last week when it kept monthly crude prices to Asia unchanged despite expectations for small cuts.
“I don’t think anybody dares to short the market when Saudi is like this,” he added.
Investors are keeping watch on a $1.9 trillion COVID-19 aid package for the United States that is expected to be passed as soon as this month.
Hopes that Iranian oil exports would soon return to the market have been dampened, supporting oil prices.
U.S. President Joe Biden said the United States would not lift sanctions on Iran simply to get it back to the negotiating table, while Iran’s Supreme Leader Ayatollah Ali Khamenei said all sanctions should be lifted first.