Member Info for somm

KK,

I can't see the WCP voting Carver out after he's just given them a cash cow to milk.

Is that the quarterly dividend?

KK,

Exactly, I think hitting 5p has made a few heads go dizzy lol.

They'll be lucky to have made £20m net profit over the past 12 months, where are they going to get £17 million next month to start paying out dividends (3p / 4).

Too much caffeine today CC :-)

CC, at the AGM I'm putting a motion in for you to join the BoD. '- )

CC,

are you mad, 3p?

That's £67,500,000 p.a.

They had $300,000 in the bank last year.

Several years ago I bought/sold a batch at 8.95/12.75p.

Soon be there again.

Yep, 2 * 250k buys @ 5.10p.

3p days are over :-( ....chuckle.

Grill79, y

Yep our fag packet numbers sound about right ($20m).

Get MO into production (potentially another 5 Mmscf/d) and the share price would turn around in flash. Surely they can truck the gas now with a spot price approaching $9?

Yep, spare 3 Mmscf/d @ $8 = 500 boe - if I remember rightly they were getting about $20 pboe a couple of years ago so they should be getting about $30+ per barrel of oil equivalent now = approx. $5.5 million per annum for spare gas being sold into the spot market.

Add the 5 Mmscf/d at fixed $5+ price and the 350 boo pd and were looking at revenue of $20 million?

If Echo's revenue profit is say $60 pboo net (the oil price is hovering around $120) this means if they're selling 350 bopd into the export market then they will generate enough cash from oil sales alone this year to pay off their debt - leaving gas profits to invest in new/ old wells etc. imo.

Yep, approx. $300K per day revenue atm - they had $300K in the bank last year! lol.

Yep, I've posted those RNS statements several times and can't see anything about the existing 141 Well having already started re-drilling.

Anyway let's hope it is being re-drilled and nearing completion and he's not gotten confused with A8 Deep Well spudding. :- (

KK,

Beg to differ, we were told 2 months ago (9 March) that work was continuing on drilling the the 142 Well and was not done in record time. lol.

''Work continues at Well 142, where testing was interrupted by the shut down at the BNG Contract Area in early January.''

We have had no news on the 141 Well.

Have asked the Company to clarify, but don't expect a reply as per.

KK,

Not according the RNS - it's yet to de re-drilled.

I don't think Carver's got a scoobi doo.

You might be right s kipper.............................

KK,

As far as I'm aware the 141 Well hasn't started being re-drilled yet.

From 26 May RNS.

''Existing MJF shallow wells 141 and 151 are next to be re drilled''.

If the 141 Well was currently being re-drilled they would have updated us on it's progress (depth etc.) along with the spudding of the 802 Deep Well. imo.

Where have you heard it's nearing TD?

Yep and highly likely to be another A5 Deep Well re flowing thousands of more barrels.

Great find - made my Jubilee weekend '- )

To add, this has put my mind to rest quite a bit and no doubt everyone else re the URALS oil price collapsing in the coming months.

I have one question, what if Russia decide to cut off access to their pipeline?

Anyhow, our revenue has just shot up by a third, which is the equivalent of us producing another thousand barrels of exported oil a day!

Got to be shown in the share price on Monday....

You're forgetting to mention they have a third of the shares in issues as CASP and are pumping almost 16k bopd.

CASP should be pumping double digit number in 2024 imo.

After the next say 8+ wells have been drilled/completed (flowing successfully) CASP should be in a position to issue a new CPR moving the P1/P2/2C numbers. With production at say 10K bopd and with the value of CASP's oil in the ground ($100 pb) will rocket the share price 20p+- new CPR end of 2023?

Just to add,

By the end of Q1 2023 CASP could have drilled 7 wells (not including the 141/151 wells), leaving 9 months in 2023 to drill 8 more horizontal wells and complete the A5 Deep Well sidetrack and finish the A7 Deep Well.

Add that potential extra oil to the 5K bopd YE target and we could be looking at at least 12K bopd by the end of 2023, with 5 rigs available that's very achievable.

CASP will become a serious player within the next 18 months with A3B to boot.....