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During the Q&A session with Fiona on 25 May she said the company would provide a full update on Fraccion D in the next few weeks, after the the pressure gauges from well are retrieved, so we probably won't get that for another week or two.

I've been watching the day-to-day movements as I've been looking to top up. Just locked away another 50k shares ;-)) Great buying opportunity at the moment folks IMO

You'd certainly have to be brave to fund a new Phase III trial for the anti-dsDNA autoantibody when the USA cohort of the original trial had the following results (from the RNS): "In the US cohort (72 patients) there were 28 patients who were Antibody Positive (40%) with an equal number of 14 patients in both the Active and Comparator Groups. Of these, 5 patients were responders in the Active Group with 6 responders in the Comparator Group (35.7% vs 42.8%). This contrasting result in the US compared to the positive result in the Europe cohort, may be due to a number of differing factors between the two cohorts, which requires further investigation."

Those who wanted to flip their placing shares could have done so straight away on the 25 May with an ordinary T+3 trade. They did not need to wait until today when the shares were actually issued.

Franco - why ask a question about the amount of warrants when you know the answer - don't bother answering this rhetorical question as we know your motive? As I've already said those 3p warrants are subject to a lock-in agreement and can't be exercised until next year so no forward selling to worry about. Even when the lock-in period expires they are subject to orderly market conditions and the underlying shares can only be sold via the company broker to ensure they do not have a negative impact on the share price.

Franko - don't take us for mugs your motives are very clear - subtly deramp the share as you're looking for a cheap entry. They are cheap enough now pal! Most of the warrants you refer to are subject to a Lock-in agreement so they can't be exercised until next year.

You seem only to be interested in Tapi Aike but there is enormous potential for value accretion in the next few months on the other blocks.

Yes it's crazy especially when there is so much newsflow to come. ECHO picked up an excellent asset in Argentina and it has already had some excellent success. The successful first well on Fraction C alone could add value net to ECHO of $26-40 million on an NPV10 basis which is very significant given the current �50m market cap. Also the company is producing around 1000BOEPD and about a third of that is oil.

Actually, all the market commentators I have read have applauded the recent placing. Although it is very painful seeing the share price drop to such a low level, the placing funds will save the company a very large sum ($7M) and will help accelerate exploration at Tapi Aike. It has also provided an opportunity, for those with funds, to top up/take a position at a very good entry point.

Exactly, that's why it's even more of an endorsement as a lot of the articles on that well known website are negative about AIM stocks and try to uncover frauds or useless companies

Thanks for posting. A very well balance article written by Garyn who knows his onions when talking about resource stocks

That's right the 3rd well has an NPV10 of $114.3 million net to Echo. The first well, ELM1004, has an NPV10 of $27 million net to Echo which is very material given the current market cap.

No the next well isn't make or break as it is just part of a much larger programme. From memory the next well has around a 36% chance of success - that's why I said two commercial wells out of the four would be a great result. Look at the NPV of the first well that struck gas and will hopefully be commercial after the flow test - it's very significant compared to Echo's market cap. Franko1001 is clearly trying to de-ramp for a low entry price. On Friday he said "Just posting some good news! I hope we do all realise in the long term plan when you look back at the chart you won�t even see this event. Drillbit decides and prospects are very good. Good luck all".

They don't need cash now for Tapi Aike drills as they won't start for a year. There's lots planned before that which is already fully funded and the company will look a lot different next year if the drilling success continues. The company has a very strong cash position now so won't need to place again for the foreseeable future and certainly not in 2018. There is always the possibility of another acquisition although I doubt another raise would be considered unless the share price was much higher.

They don't have to to hit all 4 well for success at Fraccion C. Two commercial wells would be considered a very good result and gas has already been discovered at the first well. This would then open the way for debt funding. Also at Tapi Aike they only need to fund 65% of the cost of drilling a well. In any case, there won't be any more placings to worry about this year.

We should also get an RNS anytime now about the flow test of CSo-85 on Fraccion D after the pressure build up. It was initially flowing gas at 2mmscf/d

The 2nd well spud was on Saturday so we've had a few days already.

Great news - full speed ahead!

The company has put out as much information as it can at the moment about Tapi Aike. It's an incredible exploration opportunity for Echo and has the potential to be worth $billions to the company. The cost of drilling the wells is very low compared to other projects with similar upside potential. Once the 3D seismic is acquired and interpreted Echo will be able to provide more information about the game plan. Meanwhile there is plenty to look forward to in terms of newsflow from the Fraccion C & D blocks.

There isn't a predicted month at the moment but the company is trying to do it as soon as possible. On Friday Fiona said: 'We are looking to accelerate the first well as fast as we can in 2019 and the new seismic is a part of that plan'. There is plenty of newsflow to look forward to in the near future which has the potential to drive the share price much higher.