RE: Greenberry25 Jun 2017 18:34
On Friday, when the share price was approximately 16p Greenberry sold 26,745,910 shares at 1.675p to someone. These 26m shares can now be offloaded, potentially placing downward pressure on the share price, imo.
Also had a look at the "asset" rns:
"The Company has signed a binding joint evaluation agreement with Pluspetrol Bolivia Corporation SA ... the evaluation agreement only commits Echo to fund the agreed technical studies and as such no back costs or consideration is payable"
Also,
"We are confident in the multi Tcf scale and technical quality of this acreage and believe it will also be of interest to strategic partners in due course"
Does this raise the question as to why no other major was interested?
It looks like a win/win for Pluspetrol as they bear no costs, with ECHO paying 100% of the first well and any revenue can be used by Pluspetrol to meet their 20% contribution to the next and subsequent wells. How long will it take after the technical studies before "the usual regulatory approvals" are granted?
Just some thoughts which are open to constructive discussion (smiley)
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DYOR
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xox