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It has been very frustrating that EUA have had some of the worst financing deals on AIM. The Sanderson deals were incredibly expensive and were made even worse when they have had to constantly roll them over which involved paying very high additional fees etc. The YA death spiral convertible loan notes weren't much better. Then we had the recent placing at a massive discount.

We are now left with a huge amount of warrants from these various deals which will cause a lot of resistance and suppress the share price as the holders sell shares as the warrants are exercised.

On the other hand the Sinosteel deal looks great - I just hope there are no catches!

The Fraccion C wells can be brought into production very quickly after they've been flow tested. We should see much higher production from Echo in the coming weeks

Issuing Sanderson 10,000,000 shares to extend the £250,000 loan a few months is a very expensive way to finance the company. Sanderson are also likely to sell the shares straight away.

Nedhammers - I know exactly how you feel! However, like every year I'm optimistic about next season with a new manager and lots of signings ;-)) COYI

This looks like the start of a very big move. It certainly has the potential to go far higher now West Kytlim is bringing in a decent profit and the Monchetundra permit is imminent. I reckon day traders are causing a bit of resistance but I think that will clear soon.

I'm confident the sp will be back above 1p when the permit is announced so it's still very cheap at this level. I'm certainly not selling any of my shares as EUA has multi bagger potential.

The company has said it's not looking to raise any more equity finance. Profits from WK will cover PLC costs and pay off the small loan that's outstanding.
A debt financing contract with Sinosteel for Monchetundra is already in place.

I'm really surprised to see the share price at this level given the fantastic drilling results. I'm also looking to pick up more shares now as I see this as an excellent buying opportunity.

Hopefully it will be signed off by the Prime Minister as he hands the World Cup to Harry Kane on Sunday ;-))

Malcy: "Echo has announced successful completion of its fourth well in Argentina in what looks like another very positive result. The well has interpreted a ‘notable’ gas column in the Tobifera indicating some 30m of potential net pay which suggests wet gas (with liquids) and at the upper end of the range in both contingent and prospective resource estimations. Targets of 19 bcf of gross best case contingent and 18.7 bcf prospective as per the CPR should be hit.

Echo seems to be in a good position now that the four well drilling campaign has completed and the Quintana-1 completion and testing rig rolls into town. ELM 1004 will be tested first and all the other potential discoveries will undoubtedly reveal exciting further news as work continues and thus giving a chance to make an early decision on monetisation options for Fracción D."

Relax guys - I know JohnHenry very well from his years of posting on the WSG board. He is an inveterate trader, so his posts just reflect his current position.
He's clearly looking to pick up some Echo shares on the cheap.

The results of the drilling campaign have far exceeded my wildest expectations. I could be happier with how the company has performed.

You'd have to be bonkers to sell now.
Great buying opportunity IMHO

After reading today's RNS I didn't think we'd have the opportunity to load up at sub 20p

The share price should be far higher given the excellent drilling results. It's a screaming buy at these levels

This company won't be on AIM much longer. Echo will soon be a mid-cap stock IMO

Fantastic RNS - the news here just keeps getting better and better. Once again congratulations to Fiona and the team!

From the recent annual results:
"An EPCF contract to develop the mine at Monchetundra is already in place with Sinosteel, a state owned Chinese engineering group focused on mining, which was agreed in October of 2016. The contract provides for Sinosteel to undertake the mine and processing plant construction and commissioning on a turnkey, commercial arms-length basis. 85 per cent (or US$149,600,000) of the contract value has been arranged as debt-based by Sinosteel - this element of plant construction costs will remain on the Sinosteel balance sheet until such time as the plant is operating at full capacity (about 130,000oz of PGM per annum) and to designed specification."

Echo currently has 1000 Boepd net, 1/3 of which is oil. The company could have multiples of that shortly after the wells in Fracc C are tested as infrastructure is already in place.

This should have at least doubled when the results of the last drill were announced. We are seeing a delayed reaction and after the results were presented to institutional investors.
It looks like there are some very big buy orders in the system that should push the share price considerably higher