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RNS Number : 4772A Echo Energy PLC 12 September 2018 12 September 2018 Echo Energy plc ("Echo" or the "Company") Interim Results Echo Energy plc, the Latin American focused upstream oil and gas company, is pleased to announce its unaudited interim results for the six months ended 30 June 2018. Highlights · Completion of Argentinian farm-in and re-admission to AIM in January 2018 · 3 well workover campaign at Fraccion D completed ahead of time and under budget during the period · 4 well back-to-back exploration campaign across the licences on independent structures commenced in May 2018 · Gas discovery and extended well test on the CSo-85 well on the Eastern flank of the Cañadon Salto Field at Fraccion D · H1 2018 oil sales of US$2.1 million and gas sales of US$2.1 million · Cash balances of £26.1 million as at 30 June 2018 For further information please contact: Echo Energy plc Fiona MacAulay, CEO f.macaulay@echoenergyplc.com Smith & Williamson (Nominated Adviser) David Jones Ben Jeynes Katy Birkin +44 (0)20 7131 4000 Hannam & Partners (Joint Corporate Broker) Giles Fitzpatrick Andrew Chubb Ernest Bell +44 (0)20 7907 8500 Shore Capital (Joint Corporate Broker) Jerry Keen +44 (0)20 7408 4090 Vigo Communications (PR Adviser) Patrick d'Ancona Chris McMahon Kate Rogucheva +44 (0)20 7390 0230 CHIEF EXECUTIVE OFFICER'S STATEMENT "Our bold growth strategy in Latin America has provided us with access to a balanced portfolio in the region where we are focused on multiple exploration opportunities, including the high impact Tapi Aike licence, and have the potential to add production, cash flow and additional reserves to the portfolio." The first six months of this year have been incredibly busy for your company, and post period this level of activity has continued. In January the Company was readmitted to trading on AIM following completion of the farm-in agreement with Compañía General de Combustibles S.A. ("CGC") which saw the company take a 50% interest in a number of assets in Argentina. Our work on these licences, both technical and operational, has formed the bulk of our activity year to date. Starting in April this year the company executed a three well workover campaign on its Fracción D licence. This activity was completed ahead of time, under budget and with adherence to the highest standards of health and safety. The highlight of the campaign was the gas discovery and subsequent extended well test on the CSo-85 well on the eastern flank of the Cañadon Salto Field for which we are currently developing plans for a commercial gas project. The workover activity will also result in an increase in oil production across the fields and will contribute to our oil sales in Argentina, with ongoin