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Interesting extracts from the 4Aug17 Interims when the share price was around 10p ish and which was before the 1st Nov17 RNS announcing the farm-in to 'CGC' in Argentina.

"In five months, Echo has secured two positioning transactions in Bolivia, ....
We expect to secure further corporate and asset transactions in Bolivia and beyond (including Argentina and the
Caribbean) in the near term.

It is then the Company's intention to selectively bring in pre-identified strategic partners to the business to fund and
technically de-risk the larger assets. "

Wonder who the strategic partners might be.

And back then the sp was about 10p and that was before investors had even heard about Argentina and the wells which would ultimately go on not to work out. And it was also before we had any revenue, or the 50% prospect at Tapi Aike.

Investors: a fickle breed, I guess.

In the 27Mar19 Update they did say: Total production net to the company during 2018 - so net I would believe means ECHO's share.
At the figures they quote I would calculate (hopefully correctly):

2018 av 865boepd

31% oil ie 268bopd = 97,820bo per year at av price $63.8/bbl

= $6.24mil per year oil sales for 2018.

and 69% gas so 597bepd of gas (using 1boe=6000scf) = 3.582mmscf/d

= 3,582x1mscf/d = 1.3mmscf/year x 1mscf at approx $3.99/mscf

= $5.1mil pa gas sales for 2018.

So by my calculations, total rev for 2018 about $6.1m + $5.1m = $11.2mil less whatever for the gas
used in the field operations.

Anyone else calculate a similar figure?

A very interesting look at why the poor stay poor.

"They want you to be poor.... our schools punish you for making mistakes... [so,] we're afraid of failing.

But failing's how we [ultimately] succeed."

https://www.youtube.com/watch?v=m6pWEzkbnDE&feature=youtu.be

But, obviously, still the need to do plenty of your own research ... if simply so that you know where you're failing - I guess you don't want to fail all of the time and for ever !!
But, yes, found this very interesting.
I always questioned why they never taught us what appeared to be the important stuff at school - like to do with bank accounts, investments and mortgages - instead we learnt about the Tudors !! - this video appears to answer why that was.

I've been in HUR since 2014 - and maybe investing that early was my mistake.
But being still invested here, hopefully, HUR will ultimately reward me and many others for our tenacity.
And hopefully make a few people a little less poor.

A very interesting look at why the poor stay poor.

"They want you to be poor.... our schools punish you for making mistakes... [so,] we're afraid of failing.

But failing's how we [ultimately] succeed."

https://www.youtube.com/watch?v=m6pWEzkbnDE&feature=youtu.be

But, obviously, still the need to do plenty of your own research ... if simply so that you know where you're failing - I guess you don't want to fail all of the time and for ever !!
But, yes, found this very interesting.
I always questioned why they never taught us what appeared to be the important stuff at school - like to do with bank accounts, investments and mortgages - instead we learnt about the Tudors - this video appears to answer why.

I take it that they could get the pull-in lines sorted in daylight hours, even if the sea is a bit over 2 metres.

Then, once that's done I would have thought they could go for the actual buoy pull-in and capture during the night, when the sea forecast looks to be calmer.

Anyone know if this is the case?

Just been looking at the You Tube 2018 Southgate Exeter presentation that Echo did, to check out what was said about Tapi Aike.
I've tried to capture basically what was said, but take a look yourself.
The gist appears to be -
: that in the 1970's 3 wells were drilled looking for oil - which they didn't find oil - they found just gas - which back then they didn't want.
First was the Cancha Carera well drilled in 1971 - 72. The logs on this well show 2 packages of 60metres + 60metres of interpreted gas.

Next came a well drilled by YPF called Tax-1 which at relatively shallow depth, with the drill technology of the day, suffered a blowout - and the blowout indicates gas under pressure.

Next, still in the early 1970's, came YPF's Tax-1 bis which at relatively shallow levels suffered control issues and was abandoned.

YPF noted that they moved out of the area because of high pressure gas.

The link: (at time 1:26:50 for the talk re the wells) : https://www.youtube.com/watch?v=4oOev6hpjWU&t=3610s

I wonder when we might see something from their focus in this direction.

From the last Q&A session:

"Lastly we continue to see very interesting growth opportunities available in the region." Can you explain what you mean by this please?

Martin Hull's reply:
It is our clear strategy to grow the business both through adding value in our existing assets and through M&A. The network and credibility that the team has in the region has provided access to a number of opportunities that we are actively looking at. The under investment in the onshore basins across the region combined with the nature of a number of the potential deal counter parties (large state companies or local private businesses) provides an innovative, smaller and highly technical player like Echo a unique advantage. Clearly we can't go into details but a compelling value accretive transaction is something we are focused on finding.

... just to crash some stop losses I would think, so the MM have some shares for the expected ride upwards.

So, does the royalty payment not apply until costs recovered? Because this looks like it could make a big difference if - and I emphasis, IF this figure of Egyptian royalty is 67.5%. That would mean us only getting 32.5% of 55% of 50mmscfd ie 8.93mmscfd or just 1,489boepd.
As I said, I've got this royalty figure in my historic SDX notes and unfortunately didn't reference where I got it from, so hopefully someone can say where it tells us about the Egyptian % take for Sth Desouq.

I'm trying to do a few calculations on what 50mmscf/d from S.Desouq might amount to for SDX.
So I have in my notes: SDX has a 55% working Interest but can someone confirm or correct the figure I have for the Egyptian State royalties take on this - I've got written down 67.5% but can't find where I've got that from - maybe an old presentation? Sounds rather a lot if true. Hopefully, someone tell me it's a lot less and where to view the actual figure?

... we are currently evaluating the operational risks of a stimulation on ELM-1004. We have an initial hydraulic stimulation design although this indicates that the fracture would intersect deeper intervals. These are highly likely to produce water. It is also difficult to control fracture growth in the Tobifera. These issues would significantly increase the risk of the operation and is the reason as to why we have not moved to ELM immediately afterward. We are still evaluating ELM-1004, understanding what (can be done to remove the water risk by containing the fracture) and also understanding ELM-1004 within the context of the EMS operation and result. I wish I could more definitive at this stage but I cannot. What I can say is that in EMS we were able to successfully contain the fracture vertically by creating an artificial barrier below the perforations to direct the main fracture set horizontally. The issue with ELM-1004 is that on top of the Tobifera there is a shale which directs the fracture energy downward towards the deep intervals that are likely to produce water. Hence the need for further careful evaluation and whether an deeper artificial barrier can be effective.

The RNS does say: "The well will now be shut-in."
Rather than saying 'capped and abandoned'.
So, maybe they intend to revisit it, at a later date, to test the Springhill.
After all, if I recall correctly, it was only the Springhill that was originally attributed any value at this site.
And the Tobifera was a possible bonus.

This buoy to the north of Lancaster shows good conditions likely on 2nd & 3rd Feb

https://www.windfinder.com/forecast/munkegrund/birdseye

You move cursor across the bar chart to pick a date.

I found I have the following pasted in my notes from the last Q&A session - not sure who's reply it was:
EMS first, takes about 4 weeks to stimulate, clean out treatment fluids, and then test. A few weeks after receiving the EMS test outcomes we should be in a position to pump a stimulation on ELM; we plan to use the stimulation and test results from EMS to optimise the ELM job.

Since the EMS 1001 drill, back in June, have they published anywhere what any lab testing done on the drill cuttings has been, with regard to porosity and permeability in the tobifera ?

On EMS 1001 will they be using expensive hydraulic fracking, or something more along the lines of an acoustic powder frack? as seen in the You Tube link - maybe a question for the Q&A?

https://www.youtube.com/watch?v=-sHb-qTaEnc

Interesting article find, saying:
"What I found is that widespread adoption of electric vehicles nationwide will likely increase air pollution compared with new internal combustion vehicles."

https://www.politico.com/agenda/story/2018/05/15/are-electric-cars-worse-for-the-environment-000660

Lest we should forget the exciting buzz that was around in the summer time - a very informative interview with Julian Besser, with him mentioning many possibilities.

Yes, nice sunny days back then.
And I think, well worth another listen.... to bring back the sunshine - maybe just a little bit.

https://www.youtube.com/watch?v=nyo5dchfZxc&t=3s

DYOR.

What kind of fracturing process are they going for?

I take it that it won't be the expensive, high pressure fluid fracturing system that's used for EMS-1001, but more probably along the lines of using an ACOUSTIC POWDER PRESSURE GENERATOR.

There's an interesting animation of this method at : https://www.youtube.com/watch?v=-sHb-qTaEnc

A couple of interesting animations on You Tube, that I guess give a sense of what might be needed to happen when the FPSO gets to the Lancaster field.
Looks like just need a calmish sea day to get the mooring chains attached - and clearish water too, to be able to see with the ROV, to find the chains and pick them up in the first place.

Then maybe a second fair weather day to attach the buoy to the turret assembly.

The chains:
https://www.youtube.com/watch?v=u67FU_HtEU8&t=2s

A buoy to turret capture:
https://www.youtube.com/watch?v=6_dTjVV8FWQ

Any experts on this, that can fill in some details for us all?