Firering Strategic Minerals: From explorer to producer. Watch the video here.
Jaggers
124 bar wellhead pressure on the well.
I don't think Mr Park will be ordering an ESP's for that field in the foreseeable!
And all through an 8mm choke.
Hydrocarbons from the Tobifera seems to be well known.
I read about it in Chile.
Hopefully EMS-1001 will add to the story.
What I am more interested in is how big might the field be in Square Kilometres.
And potentially how many wells.
We know the Tobifera produces 300bbls/day, 13 kms away at the Villa Maria well.
One wonders if this is all part of the same accumulation?
But for the moment, let us see it flow at volume.
Speculation can come after that.
Roll on!!
WT
I posted recently that I thought that the stimulation would not begin until mid(ish!) December.
My suggestion regarding a possible leak is that one of of the experts or even CGC or a contractor might have fed out something on the well logging. That information might have been indicative.
As with leaks from Government, very difficult or even impossible to track down.
I do though accept that today's surge may well involve the shorting of the share.
I'm happy that we are well above where we where.
WT
Up almost 35% on H-L.
This rate of increase is untenable unless for example, there has been a leak.
I haven't found evidence of one, yet.
Will there be extensive profit taking later on today?
We had the steady slide to virtual oblivion.
Now we have a volcanic eruption.
Days like today are as rare as hens teeth! lol
WT
eggonaroll
Pardon me for speculating, but is it possible that you have Tourette's Syndrome that is expressed through the 8 posts today that do not materially contribute to the discussion.
Might I suggest that you switch your device off, calm down and go and have a lie down.
If you wish to post, do some research like many posters do and then add value to what is being said rather than the inanities that gush from you.
You will feel better when you contribute something of value.
Hopefully you will accept this as helpful advice, it is intended as such.
WT
trellis35
Might I disagree!
But I would suggest conversations for the weekend when the markets are closed.
WT
luckyman2
I think that I have watched this video at least 10 times.
What I got from it was the language:
1 Regional high
2 Thickest section
3 Tobifera has it's own source rock
4 Very exciting
5 Substantial volumes of hydrocarbons
6 Potential volumes of hydrocarbons in this area
7 Robust structures, 4 way dip closures, hydrocarbons trapped
8 Results will help sanction gas pipeline, ergo monetisation of asset
His enthusiasm was infectious and his body language was very positive and genuine.
Unlike some of the "snake oil salesmen that I have seen interviewed from whom I would not buy a watch or car from.
Dr Julian Bessa got his PhD at Oxford and MBA at Rotterdam.
https://www.echoenergyplc.com/about-us/our-team/executive-team/
Experience at BG group and Shell International
A C.V. does not get much better than that.
My take when I first saw this interview was incredibly positive.
His not inconsiderable reputation is on the line, given the language he employed.
And I imagine that he was under advice not to give anything away.
Even if I did not have the RNS's, this interview sold Echo to me, although I had already bought shares.
I have no problem waiting for news, I am confident.
If you have not seen the interview, then I urge you to watch it not only closely but several times.
It will not be a waste of your time.
WT
eggonaroll
Please forgive me if I appear to be focussing upon you.
All I asked for was clarification of your post, you wrote it, you should know what message you intended to convey?
Maybe your posts might be comprehensible in future.
I can barely understand your posts, possibly the device that you are using is spewing out your words in the wrong order!
And again not wishng to be unkind but you are not my "mate," we have never met and all that I know about you is what you have posted on this board which does not leave a great impression.
WT
eggonaroll
I do not understand your post "Amazing news."
Quite what is "Amazing??"
Is this "Real or Fake news?," I do not see any evidence or am I missing something?
You have no problem asking questions of others, can you please enlighten me?
I am eager to learn.
WT
fundraiser222
The RNS dated 15th November stated that the stimulation equipment would be available early December, and the estimate for work to start was 3-4 weeks from the RNS.
So we could expect the program to be ongoing from mid-December being conservative. See RNS below. Personally I would not expect any definitive results from Echo until early January at the earliest. I would be delighted to be proved incorrect but Echo can not afford to overstate success, if that is hopefully what we have.
And just in case anyone asks, in my experience operations do not get interrupted because it is Christmas Day! It would not surprise me if Ms MacAulay and / or Julian Bessa were on site to observe operations, during this critical time for Echo.
It would be a terrific Christmas present for Echo investors to see an RNS regarding EMS-1001 before the Festive period, but markets wind down in the run-up and even with great news, the market reaction might not be all that we might hope for. You might think that I am being a killjoy here, sadly I am speaking from experience.
https://ir.euroinvestor.com/Solutions/echoenergy/3748/news/newsArticle.aspx?storyid=14127656
For general information only, take a look at this video. There are many differences between this well and ours, the main ones being that our well has only 30 feet of targeted horizon, ours is vertical and ours is not shale or sandstone but volcanic rock very vaguely similar to granite. The video gives you an idea of the operation. Enjoy and look for more on YouTube.
https://www.youtube.com/watch?v=KR9rNzHl57Q
WT
eggonaroll
You ask a question, but what does the first line of my post say?
When I posted my answer at 22.00 yesterday, did you download the attachment from that post which I went to no inconsiderable trouble to find?
I do wonder how extensive your knowledge is of oilfield operations is?
Today, with YouTube, Schlumberger and other oil companies websites it is possible to become adequately informed.
But, without wishing to be unkind, if you cannot be bothered to look yourself, I'm not sure if I can on your behalf!!
More to the point on this topic, I speculated as to whether an ESP would be required, this would depend on the GOR. Once we have an answer to that question, we can talk about ESP's!!
Discuss?!?
WT
abzza
To address your questions, my opinion only,
1 If there was a credible leak that indicated a very large discovery, then Echo might be a takeover target at a price that might not reflect true value. Long term shareholders would lose out on the intrinsic value of Echo re: EMS-1001, ELM but also the potential bonanza that lies within Tapi Aike.
2 A possible infringement of UK Share regulations, speculative.
3 CGC and Echo may get into trouble with the Argentinean authorities, they do seem to have draconian regulations as to what information can be released into the marketplace.
4 Relations seem to be very good between Echo and CGC, a potential leak might jepordise that current state of affairs.
I am not overjoyed at the current share price, it may well move up as we get closer to the EMS-1001 RNS.
We know that it does not come anywhere near the present or future value of Echo.
It does however please me, that the recent appointments to the Board strengthens the company, especially as we have the prospect of substantially adding to our asset base in the very near future.
As unlikely as it may sound, my biggest concern is that there just might be a cheeky offer for Echo before EMS and some or enough shareholders might go for the bird in the hand scenario rather than having the faith to hang on.
I am not sure how the shares are distributed between the institutions and retail?
WT
I am aware of 20kbbls/d pumps but this note says 30k!!
But what makes you think that the well will not flow to surface without assistance?
All depends on the GOR.
But without getting ahead of ourselves, lets just wait for the EMS-1001 RNS.
Speculating on the weekend might be a bit of fun, but we can only go on the information released which can not really lead to any credible conclusions.
We do not know if other wells have been drilled in the vicinity and if so what was the result, what is the extent of the Tobifera on this block, what is the thickness, how extensive is a potential sealing layer?? etc. There are a myriad of questions, Echo and CGC know a few of the answers but nowhere near all of them.
What we do know is that they are excited, they have taken advice from experts and Schlumberger, they have taken samples, done well logging, done inflow testing and designed a program that will give them and eventually us more information as to what is actually there. That's not bad in 6 months.
The real world is that when a very small company with not many employees is working on a number of fronts, there must be a prioritisation. Some may say, employ some temporary contractor's but then you run the very real risk of share price sensitive news leaking out which could have unforeseen and even catastrophic consequences for Echo and its shareholders. At the moment all we have is barely informed conjecture, and believe me, until Echo/CGC have some auditable news, that's fine with me.
I knew of a company tool pusher who was one of a very, very small number that knew of the existence of a giant oil field. With his permission he was placed in a suite in a very high end 5* London hotel for 6 months until the news was able to be released once the block was secured. Needless to say, that the individual was highly recompensed for his luxury isolation.
We are not looking at too long a timeframe for info, all the shouting, screaming and bawling will not bring that time one nanosecond closer. And might I hazard a guess that some of those who shout the loudest, have little or no investment in Echo and are just Walter Mitty's or fantasists or even delusional.
https://www.slb.com/-/media/Files/resources/oilfield_review/defining_series/Defining-ESP.pdf?la=en&hash=CD7B3A0D52EE0AEC154FF643CD92A0B1F6834B39
WT
Just got an email from Echo HQ saying that the video will be available early next week.
Have a good weekend.
WT
We will get a video of the presentation published.
But I do hope that investors are not expecting revelations, regarding news.
Echo can only put "new" news into the marketplace by means of the RNS system.
And given that they operate in Argentina, they have additional restrictions placed upon them.
Maybe we should look out for news as to the actual date that the stimulation / fracturing crew will arrive on site.
And maybe an update on which well will be tackled first and the timeframe of the operation and then the news that we have been waiting for.
I say this because things can change, delays regarding crews, equipment etc can occur, ask anybody who has worked in oilfield operations and I am sure that they will have plenty of stories that confirm this.
With presentations, especially ones that I have seen before, I look for nuance, so a hint or an inflection or maybe a new word or two. But we shall see.
This tree shake is bordering on biblical in proportion.
I tell myself that income is being generated every day, these 2 wells have not as yet been stimulated, we have gas due to be monetised, we have phases 2 & 3 of the oil wells yet to be worked over, and there is Tapi Aike, Nothing has changed regarding the prospectivity of Echo excepting the recent fluctuation in the price of crude, so there is much to look forward to.
Share valuations do vary and hydrocarbon rates oscillate, this is just one of those times!!
WT
eggonaroll
You posted that there was new information (posted last night) for "plans on the wells."
Could you please post a link to that information?
WT
eoar
Can you please post a link to this new information?
WT
malkis
Echo canNOT say huge.
The Argentinean Authorities would slaughter them for jumping the gun, if they did that.
And that presumes that there is a gun to jump.
We may have to truck oil whilst facilities are built but Gas and Oil Pipelines are just a few miles away.
And if it is big, there would presumambly be a desire to drill other wells in the area "toute suite!!"
We have to wait to see what this well gives up in the first instance, Julian Bessa in his interview looked like he could skip, such was his enthusiasm.
The RNS for EMS-1001 should be an interesting morning!
Like I have said before, patience!!
WT
Maestro1
I saw the short presentation by PW.
He looked a little deflated which is unusual, and I loved his throwaway regarding South Ramadhan.
Looking several recent dusters that Chariot were involved in, once they saw no economic hydrocarbons in place, the drilling rig/ship left the drilling site at Warp 9.5.
But these guys are still at it, are they drilling a sidetrack or what?!
Has the operation been a technical or operational disaster?
Or maybe PW will be in line for an Academy Award next Spring.
None of it make sense to me.
I have a feeling that there may be a good story to be told eventually.
WT
eggonaroll
You say that 5 trucks a day would be good.
And I cannot argue with that.
But CGC would take half of that.
And then we must factor in the cost of the well after completions including carry.
And the cost of the stimulation/fracking.
And what the experts cost in opinions re: the well logs.
And Schlumberger.
And the welloperating expenses.
And the trucking costs.
And the storage costs prior to sale.
And any local taxes payable.
And what cost Echo must factor in to get the operation to the point of production.
(And no doubt I've forgotten a number of items!)
It has been stated that this "discovery" (we are in the UK rather than Argentina) is/maybe "material" and/or transformational, so my question is:
Given our expenses to date and up to sale, quite how many bbs/day of crude will justify "material/transformational??"
Please do not think that I am being a killjoy, far from it, I just wonder what other investors think.
WT
Emailed Echo yesterday, and when they checked the Contact Form system was not working.
They are in the process of fixing it now.
Re charting.
As far as I know, this method of SP prediction is not taught on University Financial Courses or MBA's.
For those who use it, in my opinion no better than a "toss of a coin" allied to a bit of informed guesswork!!
But if it works for you that's great but if it was that good why aren't you sitting on a Caribbean beach sipping cocktails with a bank account stuffed with Bitcoins!! lol!! sorry!
Ms MacAulay with the Echo team in Edinburgh on Thursday evening. Echo HQ told me yesterday that they will be releasing a video of the presentation. There are 5 Companies at the event so I wouldn't expect more than 20 minutes but that's just a guess. I suppose one might email a question to Echo HQ, the presentation might be adapted to include an answer.
I am not concerned about the M/M tree shake, this is what they do.
If and far more likely when good news is released, the SP will find an appropriate level.
WT