Can't say that 2020 has been Echo's year, worse still with the world Oil and gas prices being so high for such a long period.
I do remember some saying that MH was holding off opening the wells so he could sell at a higher price later... Well not on has he missed the train but he's missed several and now their on Strike.
These 3 wells have be reactivated as per RNS of Dec 6th. They have therefore been in the testing and stabilization phase since then. As they said then it would take several weeks. It was a very cautiously worded RNS regarding flow rates with no initial rates or indications given.
They may be holding that back to as and when they need some good news....
Steady Guys ABZ will get all abusive and personal if you question his integrity or unwavering faith.
Just because he is never wrong (in his eyes) with his price predictions being miles out with a time frame that changes more than the Sahara sands, doesn't make him a bad person. lol It has been brought into question by many and on many occasion that hes taken / takes the Company's Shilling.
The SP is doing the talking at the moment with the MCap moving south at an alarming rate since the issue of the new share and the uplift that that gave.
It will depend on how much LO want to move of their books. They will have a plan and it's only them that will dictate that plan. But is sure looks like a changing of the guard for sure. I even detect a change of tone within the BB
I suppose 28,000,000 is a small amount in the grand scheme of things but at £156k at a time it will only take them a few months to get out and have £7,000,000 in their hand.
Building a New Company with a very sizable amount of new traders debt.
Are the BOD planning on paying this off before all this works that's required to build this 50 million a year turn over?
Ex share holder bye the way. Remember I did buy some but to stop you *****ing on but that made now odds. You just don't like hearing anything other than your own voice. It's not just me that can see that this is a Lifestyle Company.
If the company can't hold it's own and make a profit in what it does then no matter what the turn over is it will go belly up.
Mr S Marr is a farmer, farmers generally don't keep ill or sickly stock.
I don't think that someone of his share holding selling out would have the SP on it's horlicks he's taken a hit considering where he bought in on. I did hint he wash washing his smalls. Even robber's don't like being robbed. But I think this is deeper than a Tax fiddle.
ABZ have you been playing with the superglue? you are very quite at such a moment?
Has to be the Ex Bond Holder cashing in he's peanuts. Maybe not the correct term, getting out before the flood maybe. AS echo stand it is still losing vast amounts of money even with the 10M shackle being lifted it has amassed another £19M in trader debt.
It is very clear they knew this was in the offing when the share conversion was agreed,
If they make any form of statement now to try and calm things and it carries on being sold off it wouldn't look good on them either. They will probably wait until things slow down or even stop.
The Debt wasn't gifted to Echo it was accumulated by the BOD but there does appear to be even more Dept being racked up at an alarming rate. Rather than keep praising the BOD all the time they should have their feet held over hot coals.
I'm throwing this out to the full group of followers as I'm at a loss as to where this Sp / Company is going.
Everyone knows my views but at the same time I do think long and hard about the apposing views. I don't not for one moment want anyone to lose money on this company. I do wish many haven't bought into it based on fluff. My worry is there are many that still promote fluff even when the SP is down a massive 90 odd % if not greater.
If my dearest friend had introduced me to this company it would have tested that bound 2 or so years back. These guys (you know who they are ) keep singing from on high? they get between 6 and 9 thumbs up? but the company is 96% down with half the amount of shares than BP who is worth 86 Billion British Pounds. (don't even look at Shells Mcap)
Someone explain to me why based on the companies history you would invest?