The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
some good info there Mark.
I did mention before that Asian investment is hot at the moment in latin ameica so not surprised our new partner is from this area.
with that being the case I would expect them to be interested in our current asset so maybe a deal for that in the pipeline?
im in agreement with you Joe. However I don't think Martin will want to dilute the company any further as we already have 1.2 billion shares.
I still think our asset in Bolivia will come in to play. I still believe this will be monetised in some way or another, free up cash for us to expand in Bolivia.
Market has reacted well so far so hopefully the boost we need.
Oil prices rose on Wednesday to the highest since February after Saudi Arabia agreed to make bigger cuts in output than expected during a meeting with allied producers, while industry data showed U.S. crude stockpiles fell last week.
Brent crude rose as much as 0.6% to $53.94 a barrel, the highest since Feb. 26, 2020. It was at $53.79 a barrel at 0147 GMT and gained 4.9% on Tuesday.
U.S. West Texas Intermediate (WTI) futures gained 13 cents, or 0.26%, to $50.06 a barrel. The contract on Tuesday closed up 4.6% at $49.93, its highest since Feb. 24, 2020.
Saudi Arabia, the world’s biggest oil exporter, agreed on Tuesday to make additional, voluntary oil output cuts of 1 million barrels per day (bpd) in February and March, after a meeting with the Organization of the Petroleum Exporting Countries (OPEC) and other major producers that form the group known as OPEC+.
The reductions agreed by Saudi Arabia were included in a deal to persuade other producers in the OPEC+ group to hold output steady.
With coronavirus infections spreading rapidly in many parts of the world producers are trying to support prices as demand takes a hit from new lockdowns being put in place.
“The decision came as a huge surprise as the organisation struggled yesterday to agree to a deal,” Capital Economics said in a note.
It “adds weight to our view that the oil market will be in a deficit ... which will help lift the price of Brent to $60 per barrel by end-year,” it said.
Good start to the new year already.
Bolivia could certainly be a hidden gem. I think the main factor was the cost to drill which was always going to be a stumbling block. I wonder if we could get an update on our license as I'm sure this would have been touted to several companies already who are looking to invest. I hear the Asian markets are keen to work in latin America so wouldn't surprise me if we seem some new investment.
nice 35k buy landed, you don't bank that kind of money into this type of share on a whim!
Just seen this on SOU board. looks like all the hype of Trellis and SAG was for nothing?
all posts from trellis deleted and he posted under username compliance2.
Dear All, this the only post under this user name and comes from Richard Ellis previously trellis35:" I give notice that I am resigning from the leadership of SAG and dissolving the the organisation forthwith. I apologise that my recent posts have been ill advised and I now believe not in the interests of members or shareholders. I have let everyone down and cannot continue.I apologise to James Parsons and others, including Marco Fumagalli, John Argent, Brian Mitchener and Sarah Dees for any distress caused by my misconduct and recognise that the posts have been defamatory,harassing and without any basis in truth"Happy New Year all
Looks like there slowly opening up international flights.
Lockdown extended to 8th January, but travel easing.
I genuinely believe January is when we see some decent news flow.
Campo drill testing underway hopefully soon!
https://en.mercopress.com/2020/12/24/argentina-lockdown-until-8-january
that's my thoughts too bobbyrash. 5mmscf is flowing! remember the east drill in tapi aike we did that needed to be 1mmscf to be commercially viable, this is would be 5 times that. hard to say what BCF would be there but id expect it to be 50+ to be worth really going for.
I can see this moving to a £50-£100 million company depending on what they find with this campo drill and also monte aymond. if we can also start producing 3000-3500 per month we are setting up in the right direction.
I don't see 5p as a unrealistic target.
I need 5p to achieve my dream. 4p could technically do it but 5p gets me over the line.
I firmly believe with what echo have planned we could be worth a bit more then current sp and id like to see us climb that ladder very soon.
first target for me is 1.37 as I break even.
There is a lot of upside here. 2021 should prove a productive year for echo after the lackluster year we've had.
Id expect some decent news on wellworker progression to improve our boepd to begin with. current target is 2500 but with these additional 16 workovers planned we could be looking between 3000-3500 which would add some weight on echo's books.
that's not including campo drill.
one thing that got to me was this additional fund raise. investors were very keen to get on board and pay a premium as they did pay 0.51 which was higher that the original fundraise. they have obviously been informed on something juicy as why would they invest?
last few weeks weve seen alot of buying activity which has been great as its showing confidence. hopefully the signs are there and we are starting to head in the right direction.
If I were being threatened with legal action i wouldn’t be blasting it on ever lse forum JP Is involved in.
Regardless if JP and the board performed poorly for shareholders it’s up to the investor to buy.
A lot of people made money when the sp we went from 3p to £1 from sound oil to sound energy. I too made money from sound.
People will always get greedy and blame everyone else when it doesn’t go there way.
SAG has been going for a while and id be interested to hear what they have accomplished so far?
to be fair, the additional fundraise was bought on as someone wanted to get in on the project. they would have been savy to somekind of info that we are not.
if the project they are planning wasn't good then that additional money wouldn't have been available.
market doesn't seem to mind too much and buys coming in.
don't get me wrong I'm juts as frustrated as many LTH'S that weve had yet another fundraise, but I hope that investment is put to good use.
totally agree.
Tapi Aike was high risk high reward, a quick rich scheme that could backfire very easy. JP's brain child that proves how not to run a business.
Id rather look at the existing plays we have and focus on developing them to increase our production.
Granted anther fundraise is crap, but there demand was high and I wonder why? What news have they been privy too that has made the demand high than usual?
time will tell. Expect next year to be very busy for echo and hopefully this is the last of the fundraises.
you will see more than 2p on the campo drill. highest case was 88bcf for that well. from what I'm reading they have exceeded there expectations so id say its north of that.
100bcf could be worth roughly $100 million so whatever they have found will certainly add value here.
also if you read the rns's they have pretty much confirmed the well is commercial as they plan to tie it in with the frame work and open up additional plays in the area.
I'm sticking around for that, tapi aike is a backburner for me now.