Member Info for tombi1

n our final results announced on 6th May we published our reserves which are: 1P (Proved): 3.13 MMBoe, 2P (Proved & Probable): 4.06 MMboe, Contingent Resources (High estimate): 7.20 MMboe (Best estimate 6.51 MMboe). All as of at 31 December 2020 and net to Echo's 70% interest. In 2020 the Company was able to partially replace the loss in 1P (Proved) reserves due to realised production (0.72 MMboe), through the technical maturity of the opportunity set within the portfolio. 1P (Proved) reserves at year end were 3.13 MMboe, which is higher than would otherwise be the case given production in the year. The reserves are calculated using PRMS and under this the definition of reserves means that they have to be profitable as of prices at 31st Dec. As you are aware, current prices are considerably higher than year end.

Additional Power Generation Capacity

this is the opening of q&a from martin

Consistent with the Company’s strategy to increase production and leverage the marked upswing in global commodity prices, the Company is looking to install additional capacity for power generation to support continued production of increased liquids volumes. Once this capacity is commissioned and fully operational, it will support full production levels and new organic production growth from a number of identified production enhancement projects and workover opportunities. The increasing cashflows seen from existing production combined with improved commodity prices provide scope for these relatively small scale investments to be funded from operations.

Good afternoon everybody, and thank you for joining us on our Time with the Team today. Following successful fabrication, installation of the pipeline infrastructure is now well advanced in the field, with substantial progress already achieved. The schedule remains on track and in line with the announcement of February 2021. To date a critical upgrade phase of the larger project has now been fully completed, with new infrastructure now installed at the Campo Molino field connecting individual well collectors to the larger field manifold. This section of the pipeline is now undergoing commissioning before becoming fully operational. This section alone ,will enable up to ten oil wells to be brought back online in both the Campo Molino and Chorillos fields. When these wells were lastin production in Q1 2021, the combined gross production was approximately 100 bopd (70 bopd net). These wells in the Campo Molino and Chorillos fields represent the initial phase of the total programme. As previously announced the total additional gross production of the wells expected to be brought on stream is expected to be in the range of 480 – 600 bbl/d (net 336 – 420 bbl/d. The excellent progress in continuing to deliver this project to schedule represents an important achievement

I would add I personally think he has done a decent job , the previous management were useless , and he has had to sort all there mess out which has taken time and and he has also sorted the finance out to protect the company , it is a slow burner , but good potential from here if you can wait , with the added bonus the test results when able come good , next leg up new improved pipeline which could be very soon ,,watch this space

Is that all , not very much in his field , you have to do it to get it , there are reasons we don’t and he chooses to do it , very rare any take pay decreases he did not have to

a little hint there maybe ,,, as we finalise the pipeline we will update
As we finalise the pipeline expansion, we look forward to making the appropriate announcements in due course.

is the pipeline finish closer than we think or am i reading to much into that quote ,,

martin has taken a permeant substantial pay cut , good on him for that

a lot of questions on the pipeline , i think they are saying some of it is nearly finished and the rest of it is nearly finished , but i could be wrong ,i am still not sure

all positive so far

Large sell completed earlier in the day , hopefully our recent seller is now out

i thought there would be some news before the company did a chat tomorrow , still time i suppose ,but if not what are they going to say different from last time , the chats are useful but usually they explain more in detail what has been going on but we don't know much what has been happening so i am confused why they are doing it at this time , i hope they have been busy , and taking advantage of the high oil prices , explanation of expected pipeline finish would be a good starter not just its on time and target (to vague to be helpful) anyone have any thoughts what we should press them for or will they just say to sensitive to quote . website update and keeping it updated ,,,

Not to much has happened since last time so expect some news probably tomorrow , as others have mentioned not much point if not also I noticed later time than usual 3 pm

It’s now 5 months on , for our 6 months exclusivity agreement with gtl , news one way or the other in the next month on that one .
you would think there was some ideas on the table before they agreed it , so possible news there to come

Oil , at a two year high and rising , $71 they need to maximise these rising prices, great opportunity with oil so high

News must be close now so just added , let’s see

I do agree , the price has held very well at this penny , any news of significance, and it will be hard to buy , news can inbound any time now . Covid restrictions could be eased in Argentina on the 21st if it doesn’t change , oil up , gas up , world opening up ,,,, will it stay at this level ?

Oil over $70 now , gas rising , more people able to travel , it will all need to be factored in

On schedule, that’s great but when did it start or when is it expected to finish, we know 45 days but

i keep adding , to much good news came out to keep it down here , and any new news it will move quickly , just hold your nerve and remember why you brought in