Member Info for somm

The spike has happened and sp dropping, this will plateau around 1p for the next couple of months. Imo.

STB.

So you think on having a partner and nothing else BPC will become a £500 million pound Company...... yeah LMAO.

Reality check needed mate.

Share price has risen 100's % for many, me included. I think the sp will be around 10p by the time the deal or no deal RNS is released. If it's a no deal then I'd expect an 80% fall, if a deal then 60% rise on the day following by a retreat back to 10p-ish and rising gradually then plateauing until long lead items ordered/delivered etc. news then the big wait to TD.

I'm guessing on the way down there will be a couple of RNS's saying they have hit live oil in a column Xm deep, but whether it will be commercial or not we'll have to wait until testing has completed.

If it's a super major who partners us now the sp could be blown out of the water just on the name of the Company, look at JOG.

With two CPR's from two Companies giving 30% COS and potential oil in the billions the odds are on favorite for a deal to be made. imo.

RNS last week of the month or first week of next month for the big RNS is the question.

10 years of waiting around the corner Oooooooo!!!!!

Thee initial RF will probably be in the region of 10-20% until other wells have been drilled and flow rates and size of the reservoir are better known, this will take a couple of years and two or three CPR's no doubt.

However, if initial CPR high estimates are around 600mmbbloe Echo's share would be around.

600mmbbloe / 50% WI = 300 bbl * 10/20% RF = 30/60mmbbls net to Echo * $20? per barrel netback to Echo.

$300m-$600m value?

Just number crunching the foreseeable future.

''It should be noted that Pre-drill Pmean gross prospective unrisked oil initially in place for the structure targeted by EMS-1001 were estimated at approximately 60 MMbbls for the Springhill Formation, Â (included in the recent Competent Person's Report produced by Gaffney Cline & Associates). No resources were quoted for the Tobifera target as these were not evaluated or audited as part of the CPR process.''

20m = 60 million barrels gross.

If there's 200m of net pay from the 500m gas/oil column it could give 10*60mmbbloe = 600 million barrels of oil equivalent.

Initial RF?

Plus the shallower Springhill Formation and three other discovery wells to boot!!!!

Markets still trying to digest this.

Can't wait for a new CPR...... year end?

Has Potter been left with just shares in case he is moved on?
If there is no deal he loses both cash and shares, but in his new contract he retains his shares, is this even if he moves on ....no drill/partner so he at least walks away with some shares that may be worth something in the future if there's no deal now?

Wells 10/11 will be shut in with no new funding to maintain pressure.
Salary's slashed
CEO working part time so he can peruse other board roles. Says it all.
Some interest parties with other not with no permit
Slovenian permit department in league with Russian export department aka brown envelope lickers.
Share to fall further no doubt.
Months away from anything salvageable.........

Only chance is for the slo guv to sort their admin out but it's more down to the Russian gas imports, someone somewhere is pulling the strings that feeds their golden Russian gas bloated goose.
Then there's well 10 a soapie bubble bath that customer is complaining is too saopy and not enough massagie.

One and that's a third party coming to the rescue, but like I said yesterday no ones going to come without a PP in place and dataroom well researched, which takes months.

Maybe just maybe that/those t@!?s in the guv are being made to look bad with today's RNS and will have to pull their fingers out of their bore holes.

Nothing happening here for awhile folks.

No one is going to buy AST without PP, period.

And a player will take months looking at the dataroom before going public with any offer.

Lot's of patience required, probably going into next year.

The on month extra extension is probably not for more dataroom analysis, but for crossing the t's and dotting the i's imo.

They would have had plenty of time already to look at initial data and three more months for analysis should do it.

Yeah, I reckon we're now in talks about WI % splits and carries.

With 500m deep structures the only way to know if oil is there is to drill, and with a 35% CoS I reckon the only thing we're waiting on now is the Mont Blonc to be pulled....

Either very misleading or poorly researched.

Echo do not get 1,000 barrels of oil per day, they get a 50% WI share of prox. 1,000 bpdoe.

They get approx. 150 boo pd and approx. 350 bpdoe.(gas).

...IS ON THE CARDS, NOTHING HAPPENING HERE RE HORIZONTAL DRILL FOR MONTHS AND GOT TO GET A PARTNER FIRST, AND NOT MUCH WILL HAPPEN WITH CONVENTIONAL DRILLING UNTIL NEXT YEAR.

WILL COME BACK NEXT JUNE AFTER ANOTHER WINTER....

THEY KNEW THERE WASN'T ANY OIL GOING TO GET TO SURFACE AT 25% FLUID EXTRACTED THAT'S WHY THEY STOPPED, WHY CONTINUE AND RISK THE CHANCE OF A PARTNER NOT COMING ON BOARD DUE TO DIDDLY SQUAT, HORIZONTAL WAS ALWAYS THE WAY TO GO ESPECIALLY WITH ENOUGH AVAILABLE FUNDING AT THE TIME, SAID THAT AT THE BEGINNING, BUT THE KNOW IT ALLS KNEW BETTER, COUGH!

We're soooo happy and excited, CH, the other month.

Now we're up for sale co's we ain't got the dosh to develop blah blah blah.....

Who knows someone might buy them, but not this year. imo.

You've just had conformation? Really, so ignore this mornings RNS that outside expert help is needed to decide when to test 1001?

It's obvious 1001 isn't going t bet tested for at least 4 weeks and 8+ weeks if it's the third well to get tested. The fourth well should hit TD next week.

You're just guessing, so don't try and give it 'you're in the know'.

You do know if what you say is true that's inside info and goes against this mornings RNS?

Next .....false profit........

60 mmbls OIP

60 / 50% WI * 20% RF = 6 million barrels net to Echo * $ pboo = what do Echo get pboo after all costs, $30 pb?

6 mmbls * $30 = $180 million * GB" 0.76 = £136.8m / 404m shares = approx. 34p per share.

That's based on 1P Reserves, which will take years to move over from 3P and several wells to boot.

Throw in the 120/500 to boot.

up up and away these next few weeks..........:- )

no wonder they turned the flow down to 30 bpd saying they'd have to reavaluate the time frame in extracting the fluids.

Who are they trying to kid.

ask yourselves with only 5% to go before hitting their 30% or so fluid extraction?

Because they didn't want to risk 100% of there being sfa there and losing the chance for a farm in.

25% of fluid extraction completed and they stop?

Full of excuses.

In other words let's stop the well test as thete looks to be f-all there so we can at least get a partner to pay are sals.
Dilution coming with further funding needed for H well.
A horizontal well should have been drilled originally, they had enough in the bank.

So next summer folks...

Does anyone know what their WI in this license is?