Member Info for somm

Regarding the new 18,972,164 shares that are being added to the shares in issue pot from the purchase of the new rig and 562,500 employees bonus shares haven’t been added yet, Monday?

Question:

Will these shares show as a trade or simply be added to the shares in issue pot?

$750K worth of shares (for the new rig purchase) will be issued at 2.844p per share, will they show as a trade?

Will the share price drop on Monday (or when they get added) to reflect the 2.844p purchase price?

Thoughts anyone.

Hi abzzba,

That's right for the cost of the exploration well, but that doesn't include a potential hub with MA.

Have Echo reimbursed them the $440K for the CLix-100 well yet as it still needs to be fracked and tested?

MA is good to go when they have the funds, together with the boarders opening back up, hopefully all the initial well work can be done in readiness for production and trucking across the Chilean boarder when it opens.

Thank you for confirming that Joe.

This post was deleted so reposted.

All MA options as stated below are in the 29 September 2020 RNS.

Perhaps the nob who had the post deleted should do some research and also own up to reporting the below post and be a man instead of a pansy.

This is a chat board right?

Monte Aymond (MA) Options...

1 - build a 5 km pipeline to Chile.

2 - build a hub for MA and Campo Limite.

3 - truck LPG to Chile (and get higher gas prices).

4 - MA stand alone hub.

RNS’d 29 September 2020.

CL – nothing happening until boarders open. – next year?

So imo nothing happening here until mid-next year at the earliest when the boarders are opened and there’s enough dosh has been generated between now and then, as they say funding will come from production.

In the meantime they will try and bring online the remaining 17 oil wells (currently 18 operational oil wells and 17 oil wells to potentially all be brought back on line totaling 35 oil wells), hopefully another 100 barrels of oil net to Echo from these other 17 oil wells this year, with the extra revenue helping to fund MA/CL hub etc..

That’s how I’m seeing the next 12 months pan out.

Monte Aymond (MA) Options.

1 - build a 5 km pipeline to Chile.

2 - build a combined hub for MA and Campo Limite to save on costs.

3 - truck LPG to Chile (and get higher gas prices).

4 - MA stand alone hub.

CL – nothing happening with testing until boarders open. – next year?

So imo nothings happening here until mid-next year at the earliest when the boarders are opened and when enough dosh has been generated to fund MA/CL hub etc., as they say funding will come from production.

In the meantime they will try and bring online the remaining 17 oil wells (currently 18 operational oil wells and 17 oil wells to potentially be brought back on line potentially totaling 35 oil wells), hopefully another 100 barrels of oil net to Echo from these other 17 oil wells this year, with the extra revenue helping to fund MA/CL hub etc..

That’s how I’m seeing the next 12 months panning out.

Why would the bond holders sell now at a near 40% loss when they could be sitting on billions of barrels of oil this time next year or get the full amount lent back?

Anyway, any short fall in paying the bondholders back will see a capital raise for the difference or the bonds push out a few years allowing HUR to either tread water for a year or two to build enough cash up to do a sidetrack or with the bond pushed out to have enough cash to do a sidetrack straight away.

The bondholders will push the bond out and continue to get 10% interest for another 3 or 4 years, or find themselves back in this position with billions of barrels of oil in their lap.

It's a win win for the bondholders, but shareholders imo will see HUR go on to develop the Lancaster field et al.

No new shares have been added to the shares in issue pot yet?

$750K at 2.844p per share, and there share price has gone up?

''New rig

We have agreed to acquire a further workover rig for a consideration of $750,000 with the consideration to be settled in Caspian Sunrise shares to be issued at a price of 2.844p per share. The new rig will be used initially for workovers on the MJF structure where some of the earlier wells are showing signs of decline.

Using an exchange rate of £1 - $1.39, would results in 18,972,164 new shares to be issued to the rig owner.

We have also agreed to issue 562,500 shares, credited as fully paid, to staff below board level as reward for their work on the successful horizontal well.

Application will made to London Stock Exchange for these shares to be admitted to trading on AIM ("Admission"), and dealings in the new ordinary shares are expected to commence on or around 12 August 2021. The new shares will, when issued, rank pari passu in all respects, and carry the same rights as the existing Ordinary Shares. Following Admission the total number of ordinary shares in issue will be 2,110,771,664.''

Doubt we'd get all of it, but with the family owning 46% of the shares in issue who knows?

All depends if commercial and how much is Recoverable of course, but again who knows - we can only dream...…..

19,771,664 share being added tomorrow taking us to 2,110771,664.

Then another approx. 200 million when the debt is transferred into shares at £0.032.

They're not daft - move the debt into shares and get a divi.

May be they're expecting a big lump of dosh from A3 Best sale if commercial - $100 million would be nice to spread around :- )

ARahim,

The majority of the gas sold is contracted out at $20.42 pboe not $22 pboe (spot price).

I'd guess there's around 500 boopd being pumped with new 100 boopd having recently been added and around 1,300 boepd.

boepd - say 70% (900 boe) @ $20.42 per boe that's been contracted @ $3.52 per mmBTU = $6.6 million p.a.
boepd - say 30% (400 boe) @ $29 per boe that's sold at the $5 per mmBTU spot price = $4.2 million p.a.

Say 500 boopd @ $70 pboo = $12.6 million p,a.

Total estimated gross revenue = approx. $23.4 million p.a.

Add MA @ 800 boepd * $20.42 pboe (contracted @ $3.52 per mmBTU) = $5.9 million p,a.

Estimated gross income = approx. $29,000,000 p.a.

Like I said around $30 million p.a.

CL is the elephant in the room if commercial not just for production, but for a potentially large increase in 2C/2P Reserves, which could see us back into double pennies...……………….. Oh the thought!

Another 20 million shares will be added to the shares in issue pot on Thursday.

We may see a further share price dip this week before the start of drilling/ fracking work announcements later this month.

Just saying.

If Echo were to fast track our Monte Almond nut it would produce approx. 800 boepd, which works out at nearly $6 million p.a. @ $3.52 per boe - taking revenue to around $20 million p.a.

With increasing oil production to boot and steady gas/oil prices over the next 4 years they should be able to pay off their loans with some ease, the $20 million is based on gas sales, but a third of that will be oil sales so will actually be more than $20 million and more like $30 million.

Just saying.

Just to add.

If Echo sold all their oe barrels at $20.42 they would generate approx. $12.5 million per year, however they will be getting a bit more as some gas is sold at the spot price of $5 per boe and not the contracted price of $3.52.

ARahim,

Echo are currently getting $20.42 per barrel of oil equivalent for contracted gas sales not $70 pboe.

There are 5.80 mmBTU per barrel of oil equivalent.

Echo get $3.52 per mmBTU and $5 per mmBTU for the spot price.

Hope that clears up what gas prices Echo are getting.

Great work program scheduled and hopefully a couple of deeps producing next year, note the 154 wells production has increased, bodes well for future horizontal wells.

I make it around 176,500,000 shares being added to the shares in issue pot, so around 10% dilution.

Why pay dividends when all free cash imo should be reinvested, (dividends in a couple of years time would be a ore sensible approach after deeps flowing), because the family have over one billion shares and will get a significant dividend payment and @.5p per share for example would be around £5,250,000 pa. There's a reason for dividends being touted - just saying.

Should be a very good 6 months ahead fingers crossed.

''Whilst the company continue to update on operational matters the market’s attention will be on Crystal Amber with their 25% but gossips in the bourse are convinced that another predator is lurking in the wings and comes with a strong Big Apple accent…''

Predator? An oil company (take over) or broker like CA?

Big Apple accent - A broker from New York?

So is Malcy alluding to another broker purchasing as many shares as CA?

Why can't he speak plain English?

Sounds like they're getting $18 pboo for domestic and approx. $75 pboo for exports??

''International prices have recovered from a low of approximately $16 per barrel to approximately $75 per barrel and this additional revenue has been instrumental in the Group's survival. However, the domestic price at which we are obliged to sell 40-45% of oil produced fell from approximately $19 per barrel before Covid-19 to approximately $6 per barrel during the period under review, which resulted in a loss on each barrel sold to the domestic market. After the period end the domestic price doubled to approximately $12 per barrel and has recently increased further to approximately $18 per barrel. ''

Most of the 645 bopd from the 154 well is going into the export market to boot.

Let's do a deep horizontal well 3,500m vertical and 2,000m horizontal - that should sort the deeps out!!!

:-)

650 barrels per day and to be exported, awesome!

50% increase in production to boot.

Hi need the share price to hit 34p to break even!

Already down 30% from recent 100/1 dilution and the Directors (don't mind the minions getting free shares) want more shares on top of the freebie shares they've already been given.

Greed at it's best.

Guess you're married to an old maid then? ;- )