Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
New tweet- TA presentation & Lunch invite
https://twitter.com/echoenergyplc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Can anyone explain what this means to us ? Do we already have a discovery with in our licence which we can develop ? This is from ECHO's website.
Thanks.
" his includes 3 interpreted gas discoveries which were undeveloped in the 1970's due to low gas prices and a lack of technology. These key wells help de-risk exploration in Tapi Aike and increase the Chance of Success of our future wells."
Lets examine the facts:
Tapi Aki- the most under-explored in the region
Licence- Highly contested when put for tender
3 interpreted discoveries in the 70's underdeveloped due to low gas prices and technology
preliminary estimates- 4.2 Tcf midcase, 6.0 Tcf mean, 12.4 Tcf high case
Each Tcf worth around 190 Million
Current Mcap- 14 million
If this is a dud then ..., I will continue to buy if more funds are available, hopefully if I can spare some from SOU LE
All in my opinion
90 % complete
https://twitter.com/echoenergyplc/status/1135489557149958144
Not long before we attract some attention. 4 Drill excitement will begin soon.
If we hit 1, we're in the money !
GLA
https://www.echoenergyplc.com/media/1466/tapi-aike-exploration-presentation-01nov2018.pdf
Second slide of the above presentation CGC Oil Fields are adjustment to the TA Eastern Cube.
IMO.
I believe so recent RNS mentions early stage analysis being good. I found an interesting old presentation regarding Tapi Aki, where 500 Million/TCF net to ECHO is cited. With 19 % interest it probably equates to 200 Million at present.
"Access over 20 TCF potential."
https://www.echoenergyplc.com/media/1466/tapi-aike-exploration-presentation-01nov2018.pdf
The figures are mind blowing specially provided drilling cost is low. Good seismic may even reduce drilling costs further.
For me 8 to 10p pre drill target is easily achievable, It looks like sentiment is returning, the LE event if eventually happens at Sound, it will positively affect our share price. IMO.
If we get a surprise news re Bolivia, then that will add a few pennies on our share price too. Hopefully a free carry.
Happy Sunday everyone.
https://twitter.com/echoenergyplc/status/1131912383549640706?s=20
ECHO and CGC going for 6 TCF , even if they can manage to prove up 2 TCF at 19%, it will give ECHO's market cap an nice facelift. (400 Million).
Still very attractive at these prices. Specially provided the drilling costs of may be around 4 Million USD.
Of course there will be plenty trading opportunities along the way.
IMO
Website already updated with 19% share. Even if a fraction of what is believed to be there proved up, it will mean multiples of the current share price. It's also great news that they will be accelerating the drill plan, looks like it's definitely happening in Q4.
"Reserves Potential
Following an initial internal assessment, preliminary estimates have indicated the Tapi Aike licence area to hold multi Tcf potential. Gross unrisked prospective resources are estimated at 4.2 Tcf mid case, 6.0 Tcf Pmean and up to 12.4 Tcf high case. Up to 41 leads have been identified, two of which have been evaluated by Gaffney Cline & Associates to have gross GIIP of 1.2 and 1.8 Tcf (Pmean).
Echo will continue its exploration programme by reprocessing existing 2D seismic, followed by the acquisition of 1,200 square kilometres of 3D seismic data to validate prospective drilling of 4 exploration wells."
https://elperiodico-digital.com/2019/03/23/gobierno-y-petroleras-confirman-reservas-de-gas-en-el-pozo-boyuy-x2/
Google translation:
Violeta Castillo / Bolinfo / Tarija
(ElPeriódico-March 23/2019) "A perfect oil system was found at that depth, a naturally fractured reservoir. It was unthinkable to find a reservoir with these characteristics (...) We can confirm the finding, the discovery of gas in the Huamampampa formation, "in this way the Minister of Hydrocarbons, Luis Alberto Sánchez Fernández, confirmed the existence of gas in the Boyuy X2 well.
This statement was made yesterday in the inspection of this well located in the municipality of Caraparí, in Chaco Tarijeño.
The event was attended by the President of the State, Evo Morales Ayma, the President of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Óscar Barriga Arteaga, as well as the representatives of YPFB Chaco, YPFB Andina, Shell and Repsol, which make up the Caipipendi and Iñiguazu consortiums .
The authorities informed that this finding was achieved after 613 days of drilling work, in which they reached a depth of 7,963 meters, making Boyuy X2 in the deepest well in all of Latin America. For this, they made an approximate investment of 133 million dollars.
President Evo Morales was with representatives of the oil operators at the event.
In time to express his satisfaction with the finding and the possible increase in oil revenues for the State, Evo Morales said that this type of project is possible thanks to the new economic model as well as to strategic alliances with foreign companies.
"Our economic policy implemented under the struggle of the Bolivian people was inspired by social movements, with the participation of our professionals has been important. Private investment is guaranteed, but that economic model has given us important results, not only in hydrocarbons but in other areas. "
In addition, Morales indicated that these economic policies allowed that despite the low price of oil, Bolivia continues to occupy the "first place" in terms of economic growth in South America.
The Repsol Business Director, José Alejandro Ponce Bueno, also spoke about the intention of his company to continue doing business with the State.
Inspection of the Boyuy X2 well.
"Once the tests are finished, we will continue working as a team to look for the trade of the project and we will continue with the following exploratory activities (...) I reiterate the firm commitment of Repsol as of the partners with Bolivia, this is a long-term commitment" he declared.
Together, all the authorities also stressed that for these drilling works Boyuy X2 used cutting-edge technology, ensuring the safety of workers. (eP).
ELAPUNTE
New investments
All the companies that were present in the inspection of Boyuy X2, which make up the Caipipendi and Iñiguazu consortiums, also carried out the protocolization of a commitment document for new exploration works.
"This
- Tapi Aki Drilling pathway has already been communicated.
https://www.echoenergyplc.com/media/1474/180215-presentation-ta-newsflow.pdf
- RNS May, 2018- fully paid for Seismic program
"The Board expects that committing to Full Tapi Aike Seismic Programme at currently available terms would result in cost savings to the Company in excess of US$7 million over the previously expected costs over the course of the programme at Tapi Aike. The net proceeds of the Placing will be sufficient to enable the Company to commit to the Full Tapi Aike Seismic Programme and related costs. "- martin confirmed to me that the Seismic is fully paid when I had the telephone conversation with him.
- Bolivia's success by Repsol Boyuy-X2 well which will have a material impact on the value of our licence in Bolivia in my opinion- which is looking good as its stands
- Martin on the Q & A session regarding Bolivia which can bring additional cash from early monetization " Our focus across our asset base is always to maximise shareholder value and we will look at all options that best deliver this. I could well envisage a future scenario that involves early monetisation through a farm down / sale for example."A "quick win" by this route holds clear attractions"
- I think this is the best news we had in a long time and clears the uncertainty. It will move when the new tax year begins after next week when people start averaging down or taking position for the Tapi Aki drill campaign.
-I also like the style of the RNS- no hypes but facts. I think our fortune is turning. Time to dust off the recent disappointments and move on. This will come good and it's an excellent entry point for new investors.
GLA.
Seismic is fully paid for. Martin confirmed this previously. They have already given update on this. Eastern cube is acquired 100 percent and western cube acquired 10 present as of a couple of weeks ago. All going to plan. The priority is Tapi Aki.
Echo Energy plc
@echoenergyplc
·
Feb 25
Very interesting to read the article with Repsol on the Boyuy well on the licence next to Rio Salado, titled ‘This well opens new frontiers’ (link: https://translate.google.com/translate?sl=es&tl=en&u=http%3A%2F%2Fwww.energypress.com.bo%2F2019%2F01%2F30%2Feste-pozo-abre-nuevas-fronteras%2F) translate.google.com/translate?sl=e…