Member Info for partridge

" extension secures advantageous pricing of US$ 4.2 per mmbtu".

The extension allows a new contract to be negotiated post June when a new round of contracts come into being. Contracts are likely to be around US$2 per mmbtu.

" As a result the weighted average contracted gas sales price for these months, of US$3.56 per mmbtu".

Compare to the US$4.2 per mmbtu ( RNS dated 15th April) for 1 key customer as opposed to 2 key customers and 3.56 per mmbtu. Tells you where gas prices are headed as new contracts are negotiated. According to the figures in the RNS posted yesterday, the output of Echo is over 80% gas. That is a real worry.

https://www.bnamericas.com/en/features/who-will-benefit-from-argentinas-criollo-barrel

https://news.google.com/articles/cbmihqfodhrwczovl3d3dy5yzxv0zxjzlmnvbs9hcnrpy2xll3vzlw9pbc1nbg9iywwtyxjnzw50aw5hl2fyz2vudgluys1pbxbvc2vzltq1lw9pbc1iyxjyzwwtchjpy2utdg8tc2hpzwxklwrvbwvzdgljlxnly3rvci1pzfvts0jomjjwmlnh0ge0ahr0chm6ly9tb2jpbguucmv1dgvycy5jb20vyxj0awnszs9hbxavawrvu0tctjiyvjjtrwhl=en-gbgl=gbceid=gb3aen

Are you still here? The pump has come and gone. Welcome. You are now a long term holder. In what?

The Italian interests are still with Coro energy. And the losses. Eating into cash.

The Duyung assets. The transfer of 15% to Coro Energy hasn't been confirmed by the Indonesian authorities. Coro might end up with 15% of the shares in the company controlling the asset rather than the asset itself. Companies disappear. Asset remain in the ground.

" As previously announced, the transfer of title of the 15% Duyung PSC interest to Coro's name remains subject to customary Indonesian regulatory approvals. These approvals are expected to follow but have not yet been received. As a result, the Duyung PSC partners have now agreed to a six-month extension to the long stop date under the Duyung PSC acquisition agreement for receipt of the necessary Indonesian approvals to 30 June 2020. Should the regulatory approvals not be forthcoming for any reason by 30 June 2020, the Company will instead be transferred 15% of the shares of the Duyung PSC title holder and operating company, West Natuna Exploration Limited, as envisaged under the Duyung PSC acquisition agreement".

Tick tock. Expect no news until April 2021 when the next debt repayment is due. Cash raise required this year. Can you afford to wait? The BOD can. Is that £1,000 per week or €1,000 per week? Nice. Nice to know where your money is going. Be careful.

Ascent shareholders don't appear to understand. Mr Parsons is now in charge. Assisted by "Andy" his fellow C4 Energy shareholder. What has gone on before is of little interest to him. Slovenia is over. Done. He will take any cash received from there and move on. Probably sell a dream of riches in Cuba. The cash raising and share dilution seen since his arrival ( one at 5p and the other at 2.75p) are nothing compared to what he has lined up. Oh, and the debt and the cornerstone investor. Be careful. He has disgruntled placees to placate.

Is that it? Internal buyers being forced to pay $45/barrel whilst Brent crude is lower. Therein lies the problem. Demand in Argentina is weak. Oil storage is full to the top. The buyers of the oil, such as refiners have a surfeit of oil. Some are oil producers themselves. Nobody is going to buy expensive oil products so oil refiners will not buy the oil. What is more, the caveats that come with the $45/barrel are a problem. The oil and gas revenues for Echo Energy are evenly matched by cost of sales, administrative costs take the company into loss. Taking up the $45/barrel offer means the company has to keep all staff in country employed. Echo will find it hard to push through the proposed G&A cuts.

The shutting in of 10 producing wells recently to save money resulted in the loss of 130 boepd. The company hasn't immediately 're-opened theses wells because the extra $10/barrel received hardly makes the oil profitable, if at all. Missed out of the recent RNS is news as to whether the stored oil has been sold. Probably not. Probably no interest.

Gas prices in Argentina are falling. At the time of year when they should be rising. Post June expect money received to plummet to 2 per mmbtu. Revenues at risk. Is that when the deferment of salaries end?

Be careful

Trouble is they would be walking away from it to discussions about a possible share of 190 barrels of oil / day in Cuba.

There was £5.4 million at the end of November. By 31st December it was £4.6 million. A burn of £0.8 million in a month, even with belt tightening. £1.35 million was received from the December placing early this year taking known cash to £5.95million. Of that cash, £2.5 million is held in an account by the company and may be conceded to the Moroccan government if certain key minimum commitments are not met by Sound. Interest on the €28.8 million loan is due, which at 5% is €1.44 million. The cash is running out. Additional funding is required. Be careful.

Is it not cringworthy to see the level of grovelling by RGM shareholders? They call on the good doctor to give the company a mention and drag the mug punter in. Why not?. He holds shares here and touted a share price of 10p in the heady days of the tight squeeze. Needs to bail himself. Did the routine obsequious interview which managed to raise no interest and lower the share price. Now the vacuous pump and dump. Nothing happening in PNG because of a state of emergency until June. No Mambare, no WoWoGap. Nickel price is down because there is no interest in the metal because of impending worldwide recession. Bad timing for Mr Parsons. Are those shovels ready in downtown Southport? £1,300,000 from two cash raises since December. Nothing to show. There is a need to offload shares at 0.8p to mug punters to placate placees or the next cash raise won't be so easy. Please, please good doctor is there nothing you can prescribe to pump this share? Please, please, pretty please.

Sad to say has a little manipulation has gone on here? C4 Energy, who bought the outstanding debt in Curzon recently, has Mr Parsons as a shareholder and director. Regency Mines, where Mr Parsons breaks bread with Scott Kaintz, with all its knowledge of what is going on at Curzon has decided to sell up. That's not Stretchum The Truth. The small shareholder again treated like a mug punter.

Cassiopeia and Stuffi reappear when share price starts to fall towards the last placing price of 2.75p. Mug punters who think there is a pot of gold in Slovenia please divest yourselves of your cash. Don't forget there is the added bonus of discussions about discussions of a share of 190 barrels of oil in Cuba.Someone has shares to sell.

15,000,000. That's a lot of shares to sell. You'd thunk the share price would fall. At a time when debt was being renegotiated because the company doesn't have the means to meet quarterly interest payments. And the revenues from oil and gas sales are shrinking. Do you think you should top up? It would be rude not to. Wouldn't it?

https://latinlawyer.com/article/1226816/vaca-muerta-the-day-after-the-day-after

Or could be an ISA b&b, highly unlikely though. Who would thunk it?

I can't imagine they are placing shares being dumped on mug punters. Who would thunk like that? Profit for the placees, who cares about the small shareholder? More of the same to come.

soundasapenny, by all time high, are you suggesting a share price of £1.02? Or a company valuation of £1,200,000,000? What would your target be, £2.50 at least at le? I think investors should prepare for a nice little cash raise. It would be rude not to. The same old tricks are being played. Tut,tut,tut.

It's worrying when posts are removed. I simply pointed out that today's pattern closely resembles the day when a TR-1 was issued revealing shares held by Lombard Odier were sold . They hold 185,000,000. Someone doesn't want mug punters to know. Line up straight there!

I wonder if Mr Parsons and "Andy" are aware of what is going on? After all who is employing Stuffi? I suppose the mug punters are mopping up the placing shares at 2.75p.

I'm being trolled on my usual boards so I thought I would use all my keyboard warrior powers on Echo Energy forever. Just had a thought. When the company reported in the 15th April 2020 operational update that it was holding 12,613 barrels of oil in storage perhaps that was because they could not be sold.

https://www.argusmedia.com/en/news/2104690-ypf-joins-cautious-trend-of-restoring-refinery-runs

It appears Covid-19 even has an affect on the WoWoGap project in the far reaches of PNG where there is a State of E mergency until 1st June 2020. The proposed meetings between the licensing authorities and the local village people and RMI concerning EL1165 (the exploration license) have been put on hold until after the state of emergency has been lifted. I think it was estimated that getting authorisation for EL1165 would take about 9 months so perhaps no movement until March 2021? Plenty of time for Mr Parsons to discuss any synergies. Who would have thunk it?

https://www.bnamericas.com/en/analysis/how-is-argentina-responding-to-the-oil-demand-crisis

https://www.argusmedia.com/en/news/2100192-argentinas-refiners-slash-runs-close-units

I think these have been posted previously. Public knowlege.