AR Your telling us that the company the has 70% of the JV allows a partner to collect the sales of which the get 8. something % and then works out what Echo is due after costs and other partners cuts, then pays The senior partner whats left as in 70%.
Echo is very trusting in that case.
You know all this but you don't know which partner is doing the same for the gas sales?
Where are you seeing the Interoil are withholding monies from Echo?
We do know that Echo were withholding supplier payments early last year.
Why is Interoil taking full payments for the product being sold? It's cut is 8. something %. Seems a little strange that they would be getting paid for all the product sold then giving the rest to Echo minus it's take?
I find it interesting that Echo throw a similar curve ball yesterday (I've post the same thing on Echo's bb) We all know the connections. Both are in a sticky situation at the moment, Here the TAX issue and Echo keep saying they are carrying out workovers in the ways of bring Closed in wells back online. But there the production figures are falling back. Their work over program doesn't seem to be barring the fruits.
So lets just throw something out there as a bit of a distraction. IMO
Time.... it doesn't take long Effort..... Very little as every figures I quote are published (Maybe in a % or an monthly figures taken from another partner company) but they are not distorted or twisted.
Why... because it's so easy to unravel what is real from what some companies want you to believe is real. pick a times frame that suits we can all do that.
Plain facts written basic month on month fools nobody.
This company has made not a dime of profit from Oil and Gas Exploration or production.
As usual? I find that a bit strange we have never spoken on here before?