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Let’s hope so Joe. Ever hear from crudehope, is he on here still?

As long as we don’t end up with a 1% stake of every asset lol

I’m buying in to average down my current 7p average. Even selling other stocks to get onboard for the 2p party. Time for a board call to find out where all these assets are disappearing to and why. Increased production, oil price and gas contracts are giving us a real lift in our profits. I think the figures will rule here before we see any real news.

Yeah Iv got a good feeling we are going to be seeing good results. 7-10p here we come.

Easily hit 7p on yearly output alone.

Still worth a buy I think, for those long term holders. It’s been a rough time right across the market. If it all goes as planned here we do have a fairly decent revenue stream and more to come potentially.

Usually during well testing they will test a few different flow rates with varied lengths of shut in periods to get reservoir properties, production index etc. Pressure build ups measure pressure response during a shut in period. It is useful for measuring reservoir properties and well effects such as skin (Connection of well to reservoir). In this test, the flow rate is zero (constant), so you often get better results than the constant flowing test (which can vary). It’s good for interpreting surrounding reservoir properties and the actual reservoir pressure. A longer shut in test (although expensive combined with longer flow tests) will provide information from the reservoir further away from the well. Other wells in the vicinity could be compared for Pressure connectivity.

So from this scenario we could have a better understanding of the ‘stabilised’ reservoir pressure from a distance from the wellbore. Will we see the pressure we initially predicted from geological expectations, pressures similar from our nearby wells?

But.....it will all depend on our Well completion and if we will see any pressures at all on the gauges. (They may need to turn on the taps down there yet).

Not too bad. It’s worth a top up. 1p will do me.

Bold statements required from the board.

All we need is to increase our reserve volume :-) We will soon see our production increase over the next year if the workovers go ahead as planned.

JP seems seems to be doing well financially for Echo Energy (hmm). Think we have lacked technically on some aspects thats cost the share price significantly. High risk, high reward exploration though. The constant asset shuffling must be mind boggling. Hoping that we see some sort of significant gain soon that reflects our potential upside.

They will be waiting for big testing news, hold it down even with buys and then a failure will result in a slight drop whilst a good result will see a good rise. Not gone are the days of 18/40% rises on a decent flow rates.

Campo Limite testing should be kicking off again soon hopefully, see what kind of results we get.

Not the greatest year for Echo, this year should see a marked increase with constant production and an increase in price for Gas sale agreements.

I agree with your calc there.

Let’s hope it’s something substantial, not just a blip of gas. Only testing will tell.

Yeah confirm circa £36 Million of oil in the 1P estimate at $45/bbl. Gas I think 2.26mmboe=15.96 million mcf= 15.96 million btu = @$2.36 = $36 million

So equals $72 million or £57.5 million, and that’s only the low case 1P estimate.

If we increase our production rates like we want to this year we should surely see $47 million income (5p).

Okay, confirm. 1,000,000 cuft of gas = 172.39 boe1000cuft(mcf) = 0.17 boe5800cuft gas = 1boe5.8mcf = boeMmbtu x 0.9756 = mcf 1 mscft/d = 1000mmbtu

Think 1Mmscf is 167.24 BOE? Reserve size our 1P is 3.8Mmboe. They used to use 1/3 of asset value for valuation, then 50-100% And even 75-80%. But our 1P figure may already contain that.

Yeah perhaps I need to do/get a projection of estimated production and revenue forecast over a few years, that includes our interest %, oil proved, producing, our wells, Gross /net oil production in bbl, revenue from this, gross/net gas (Mscf) and revenue, production taxes, costs and a total based on today’s prices :-)