Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
I think Palermo Aki will be a success. On the presentation they already have plan to tieback the well with the Chillian pipeline. We deserve a majestic rise here, it's been very painful to watch this in the past two years. The only share I watched going down for continuous two years regardless of what news comes out.
I really don't understand what has been going on here. It drops 10 % with £ 300 sale.
The market is discounting everything to nil. Someone is heavily shorting this I believe and they indeed became more successful in making money than the LT loyal holders. It's a dirty game. For sure my last investment on AIM. Fundamentals don't matter here.
Too bad for some like me who have a much higher average, however the show hasn't started yet. Great opportunity for new investors, there is no much downside from here. We are producing & we are drilling. I beleive Palermo AKi well will be a success and adds to the income soon. If you look at the recent presentation, there will be continuous operational activity from March leading to H 2 before the exploration at Western TA. That has always been the reason to invest in ECHO. I have been in ECHO for over 2 years. Have seen the good and the bad days. I can say that we are in a better position now. With Martin as CEO, a good production volume, opportunity to explore and maximize profit and TAPI AKI drilling campaign underway. Institutional investors are sitting tight. Share price is fluctuating on very tiny volume. One strike will have exponential effect on the share price.
I hope they get out of Bolivia and monetize the asset soon. After all I am sure even the work over rig we own and the assets on the ground must be valued over our Marketcap. All in my opinion.
https://www.echoenergyplc.com/media/1509/q1_2020_investor_presentation_web.pdf
The new presentation puts short/long term work program in details. It's the first detailed presentation we've seen from ECHO. There are interesting details now: Work over program to start in March,
15 wells currently identified with workover potential
More importantly Bolivia- Study work program complete, exploring monetisation options
I am sure news from Bolivia will come soon soon. JEA/TEA 12 months from 12 October 2018 + 180 days gives us a deadline of April, 2020.
Use of Electrical Submersible Pumps (ESP)
New perforations and use of hydraulic stimulation
Use of JV-owned modern workover rig - reduces cost, increases efficiency
President Energy-MCAP £43 Million
Average production of 2,414 boepd
ECHO Energy
Market Cap £8M
Average Production 2,481 boepd with significant production and exploration upside.
I know it seems silly and I am massively down at the moment but this will turn on a decent strike and a confirmed and steady updated production figures.
"One can speculate why market activity is down, ranging from oil price, sector sentiment, "risk off" investor attitude etc etc. It is not unique to us. The point is we want more. We are working to the best of our ability to increase liquidity. As you point out this starts with successful operations, but we also have significant plans in place (and being implemented) to maximize interest including amongst larger institutional investors."
"e believe there is much to be positive about. Tangible upsides in bullet summary - Campo Limite testing, SCS production enhancement and efficiency optimisation (we have identified numerous opportunities across both these areas), Tapi Aike additional wells - work continues to advance on preparing the next phase. A reminder that the western area of Tapi Aike was primarily the reason for entry into the block. In addition we remain actively looking at growth opportunities where we believe (but only if) they would be value accretiv"
"hope you can appreciate we cant release that information in this forum. We will of course be releasing full accounts as part of the annual report. What we have released is the performance of SCS in terms of production. Additionally we RNS'd the detail average pricing. I am happy to confirm that the prodcution performance was ahead of expectations"
"s we announced production and the overall performance of the SCS assets since acquisition has been very positive. That deal has been a huge step forward for Echo. Part of the reason is the substantial upside we see within the portfolio. It gives us multiple opportunities to add value. Cost optimisation is one of those areas (but certainly not the only one). With our partner, we are looking at all the existing service contracts, contractor shift patterns, ancillary services etc. We are seeking to bring top industry efficiency into a operation that hasn't had that traditionally. As a new partner looking at everything fresh and with what i believe is our more rigorous approach, I am convinced that we can do a great deal to make progress. In addition to the clearly hugely busy exploration activities this is a top priority"
Martin;'s reply to y question " As we announced the well is not written off. The tested intervals were not commercial. We are making an assessment as to whether the other areas of interest merit the cost of additional testing. We will make a decision in due course with our partner as to whether further expenditure is likely to create additional shareholder value. The results from the current pressure build up will feed into that assessment."