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Looks a little better, but no actual details on the Colombian assets yet, that worrying, unless we see an actual portfolio, production rates and assets then it’s not suitable for me. Our second significant asset loss does not instil to much confidence in the company, although amazed that the bounce backs are plentiful. If it does work out will be quite glad that we have an entire clean sheet, a potential 10% free carry in a production portfolio and a full new set of assets to work with.

We need financial clarity. We need a basic budget plan. We need to know where the cash is going and what is the financial outgoings. Surely if we are still loss making even after all the new gas contracts and production increases we need to know why. Is it just the case that we need a short term loan which we aren’t going to disappear. As for the new assets, we know nothing about it.

Does not seem a very high amount for all our assets. Anyone else want to buy it, bargain. I can imagine it’s going to cost that amount to change the presentation again.

As we move from planet to planet, laying waste on all our assets again we realise maybe he just isn’t from around here.

We need a breakdown on where money goes in Echo. Time to dig out the accounts.

Also have 30+ workovers ready when financed, a well test (probably not great or they would have dove it by now) if it still exists, high gas and oil contract sales when this heat passes, winter coming up and a VAT rebate, what’s not to like. Our field facilities are upgraded to the eyeballs and high sale volumes throughout the year. All we need is a common sense approach to our outgoings and some cash kept in the bank or shares rebought by the company and Argentina to leave this inflation behind with exchange rate ironed out.

Did wonder if that’s what they did.

Could be, if you have the timescale and the patience, there is always the possibility of a real big gain. My UJO, 2k, would have been worth 362k today, 8 years all It would have took. Of course I sold to buy here more.

Lombard had a rough ride and tried a fair bit to make a profit I think. Would be interesting to see their entire lifespan timeline.

£50 million market cap should be easily achievable, we have a significant amount of oil and gas to produce and potential.

Hopefully they add end of covid and the oil price rise back on.

At last a rise, shame my average is nowhere near the share price. Surprisingly. Just another hook.

Big wage, big responsibility. Big revenues. All going down a big sinkhole. We need to get this blip sorted as soon as possible and ensure we have an actual cash balance in the bank.

Hope they didn’t invest our bank balance and raising here.

Haha, the 600,000 recent raising, the 1.3 million in the bank. Surely if the Argentinian economy improves will we make a significant foreign exchange currency gain on any cash received now.

How often do we get paid for gas and oil. Monthly? Quarterly?

Our growth has been high up until this quarter, if we get our production back to a decent level with the sales contracts already in place, we are still on for a fairly high revenue stream coming in. Inflation is a huge problem and that exchange rate is really killing us, but I can’t see there being a drastic change in production or sales once this blip is sorted. Recent massive inflation increases, I believe, is down to a heatwave and weather related affecting food supply, but don’t quote me on that. Sooner it’s paid, the better. Looks like the problems going to be getting finance for future wells, now if this investor comes in with a decent proposal, we could get some sort of funding for workovers and the growing even riskier well test, but at what cost. Tax return needs to be quick coming, let’s hope the Argentinian government pay their bills on time and want to.

I’m now going to reread the RNS. Sounded dire this morning.

We need to get that 0.5m in the bank rapidly, then we need to figure out where all the oil revenue is going. If we are paying staff and not providing any sort of work programs or not actively seeking partners to assist in workover costs then we need to start looking seriously at the cash flow situation.

Odd one, never heard can’t sell the oil before.