The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
MrMarkyB
Echo energy is not in lockdown or anything else.
I used the phone number from the website, a London number and spoke to Julia, not Sarah.
Martin Hull is in the UK.
I have no idea how you are trying to contact Sarah.
The message device on the website very often does NOT work.
Hope that this helps.
WT
I am not going to substantively disagree with either of the last two posts.
I, for one am disappointed with Echo for not keeping us better informed.
Be it, the recent 3D seismic results from Tapi Aike. I am not looking for chapter and verse, more an overall sense of realism on what was seen. Or more complete information on the current drills.
Is that really too much to ask???
WT
Not much activity on our share trading front today.
Great to see investors posting, but like last year expectations - even tempered with a little caution, a lack realism was evident. The only stone cold fact that we have is that an EGM has been called by CGC, and that COULD be about any issue!
I do presume that the next, almost guaranteed point of excitement will be next Monday at 14.00 UK time, 11.00 Argentinean time when this Extraordinary General Meeting opens at the CGC Headquarters held in Buenos Aires, when we will find out quite why the meeting was convened. In the unlikely event that it pertains to one involving Echo, then I presume that Echo will release an explanatory RNS to us at 14.00.
So unless there is a leak into the market or Echo releases an RNS between now and Monday 14.00, all that we can do is sit on our hands and wait. You might also, if super confident and so inclined, make a top up.
After yesterdays top up, I am fairly certain that I have topped out!
I did see a spectacularly optimistic buy yesterday of 654 shares for £15.01, but you never know!!
WT
A spate of late buying.
3 X 100,000.
It all helps!
WT
That email change happened before a couple of weeks ago, when I saw the PR firm as the only email point of contact.
We could always use Martin Hull's email address?
I remember seeing on the LSE Sound board that James Parsons has withdrawn from some Social Media.
Probably because he was receiving unkind flak from disgruntled Sound investors.
I did notice along the way, that Sarah also acted in the same position at Sound.
WT
Not really!
New coach, new ethos - it will take a while to bed in.
But we have that truly wonderful memory of 26/09/2015 to keep us happy, in the darkest of times.
Remembering that it is only a game, not to be taken too seriously and that we can all shake hands, throat a pint after the match and look forward to next year.
Personally, I don't go in for the petty tribalism that afflicts so much sport these days,
And the age old adage that every dog has its day, no matter the result on the 7th March! lol
WT
Just made my last top up.
Now a very, VERY round number!! LOL
Waiting for Monday, and/or favourable results on these 2 wells.
He who dares Rodders!??!
WT
It is highly unlikely that this Extraordinary General Meeting at the CGC Headquarters in Buenos Aires next Monday has anything to do with the CLMx-1 well. But if it did, Echo would have to issue a "matching" RNS, presumably at the same time which would be 14.00 London time.
Not much positive news has been released by Echo over the last few months, recognising that none of it has been negative either; at least for me I am intrigued as to why CGC is having this EGM.
Maybe a bit of fun speculating over the next few days, while we wait for news on the two wells that we are involved in?
And looking at the SP for clues? LOL
WT
MrMarkyB
Well done for spotting that!
In the improbable possibility that it may relate to a hydrocarbon discovery, and CGC have very many irons in the fire all of the time. I did read that they have drilled over 100 wells in the last 3 years.
One way that we might deduce that the CGC news relates to the CLMx-1 well in the Eastern Cube of Tapi Aike, is if we see unusual volumes of Echo share buying.
Yeah, that'll be right!! lol
WT
Or if Echo
nyforever
They could have curtailed well operations, post the drilling phase.
It was decided to continue.....
Remember, we did this last year, and it got us into trouble.
No oil, no gas, no money left in the coffers and we handed back producing assets to CGC!!
I am all for optimism.
A tad of positivity, I agree.
And even the odd passing notion that something reasonably economic has been discovered.
Try going back to last May to late summer, and read between those lines?
Mr Parsons was Chairman then and he still is.
The Princess took the wrap, but Mr Parsons and Dr Bessa remain.
I'm dubious on the trust front!
Before I change my mind, I want to see some New assets found and some New income generated.
My question is has last years "Half Graben" geology speak, been transformed into this years "28 metres above pre-drill prognoses??"
Why would the top of the Springhill not be where they thought it would be?
Was the seismic that they based their calculations on, that inaccurate?
Who did that seismic, the vendors or us?
Was no recent 3D seismic done on the drill site?
Why no photographs from the drill site with an Echo representative in attendance??
Lots of questions, the RNS when it turns up will hopefully answer them.
WT
CGC is a private Company and we are the 19% minority stakeholder.
The news flow from this well is in the hands of CGC, and may be different to that we experienced last year.
It will be for the Echo management to sort that one out.
The way that I look upon it is that, no news equals no bad news.
Maybe if they have discovered something decent, then further (time consuming) evaluation is required before the issuance of an RNS. Or there may have been delays with materials, equipment or personnel. The permutations are truly endless!!
As investors, all we can do is to remain positive and hope that 2020 will be far, FAR better compared to 2018 and the resultant Feb 2019 RNS.
WT
Another week, and the wait goes on.
What has occurred at Touchstone Exploration Inc. of late, might be an object lesson for those overly impatient for news.
ONSHORE TRINIDAD
Issued RNS's
16th Dec First indication of a significant discovery. SP 13.75P
19th Dec Update SP 21.00P
20th Jan Update SP 22.50P
6th Feb Confirmation of Discovery SP 40.50P
In this case, a full 7 weeks from first notification to an RNS with flowrate/composition details.
And these are our first two wells in a program of five.
So if your nerves are frazzled now, I fear for you mid year.
It would be nice to think that one or both of our wells will deliver something to our bottom line.
But maybe they will miss the mark.
That's Exploration in the case of Tapi Aike (more risk) and Appraisal with respect to Palermo Aike (less risk).
Have a good weekend.
WT
PAUL1DEANO
Ah, the "seeds of doubt" poster is back!
I thought that you said, and I quote "I've given up hope on this one!"
You contribute nothing, spout negativity - Yes, HOP OFF might be best for you.
Since 4 weeks ago, I have bought more shares.
If you are unhappy, then you should sell! Surely that would be the obvious course of action.
Of course, assuming like other naysayers and derampers - that you had any shares to start with.
WT
It must be disappointing for all of us to see the SP drop again by such a large number.
Why have we never seen photographs of either of the current drill sites, with either Martin Hull &/or Dr Bessa in attendance.
Throw us a bone, it does not have to be large and meaty - but some PR effort would be appreciated.
Sitting on hands just does not cut it for me.
And the concept of "under promising and over delivering" is taking on the pseudo speak of last years "transformational!!"
That said, I for one am all too aware that there are many things that cannot be disclosed.
WT
MrMarkyB
Thank you for the info.
Much appreciated.
I have not attended any Investor Events as I live in Scotland.
The trip by train or plane probably plus a room in a hotel etc. would probably cost me around 20,000 Echo shares equivalent. I would rather own the shares.
It would be better if Echo could email something on upcoming drills or publish it on the website.
As far as what has not been published, but is normally available - I do not understand the reluctance, if that is what it is?
I would be far happier, if I did not feel that I had to pose these questions.
WT
We are closer to news.
No idea what it might be.
For those that have been with Echo 18 months, we have had really great RNS's and then to discover that there was nothing, absolutely zero in place.
The Palermo Aike well might derisk the surrounding area, but we have no detail as to what that might be.
We do not even know the thickness of the potential pay zone.
We do not know where in Palermo Aike, the well actually is?
Near the border? Is there drilling close by, and if so has it been successful?
With respect to the drill in the Eastern Cube of Tapi Aike, we do not know the size of the target that the drill was aimed at?
All of the above is normally released information to shareholders, but not us!
I do not know why and I am not going to speculate.
Today we are down 6% whilst awaiting news.
Only 6 trades, approximately 400k shares traded according to H-L.
I really think that Echo has terrific potential.
I personally have bought 150,000 shares since the New Year to top up my investment.
But given the lack of the above information which is NOT market sensitive, Echo is doing little to attract new shareholders.
Maybe there IS a masterplan that we are not aware of.
The month or 6 weeks ahead will speak volumes.
To pass that time I might watch again the weekends rugby and a great Superbowl.
And catch up on some sleep.
WT
MrMarkyB
I asked last year about Echo presence at drill sites, and was told that a "representative" would be in attendance.
No idea who this was.
From my experience, good geologists like to spend time at drill sites.
School friends became geologists and were very much, hands on people.
I used to really enjoy "chipping" trips looking for fossils in Carmarthenshire or the Usk Inlier, or even a week of our summer holidays trampling around the Lake District in a quest for good examples of minerals and getting very, very wet both inside and out!
No teachers invited!!
Dr Bessa does not seem to be hewn from this type of material. Maybe more an academic.
Personally, when we were drilling on an installation, if I wandered up to the shaker (cuttings) room at 3.00 am - I derived huge confidence to see our geologist there, getting his or her hands dirty.
Give me a geologist who can double as a drilling engineer who can be the "company man" on a drill.
I would love to know how many drills, Dr Bessa has attended on our behalf?
An on site "company man" keeps the drilling contractor honest!
How about utilising our "Bolivian" man?
And being a little playful, has anyone checked if last years "abandoned" wells remain so, or have they magically been brought into production now we have handed them back to CGC?
Nothing but nothing, would surprise me!
Back to the rugger!??! LOL
42 - 0, a good start.
WT
nyforever
Maybe they are waiting to see what the actual flow rates actually ARE over a month or two, rather than the ones that the vendors supplied.
Fudging flowrates by sellers is not unknown.
I get that. I've seen it.
But geographical and historical information, if just fact.
And I have no intention in turning into an Echo Warrior (God Forbid!) , I just like verification.
And I have no intention of turning my Friday into a laptop marathon.
And by and large, I am more than happy with Martin's endeavours to date.
I just want to see Echo be the best that it can be!
Turning my attention to Italy in Cardiff.
England in Paris, good luck with that one!
Or Scotland in Dublin.
And the KC Chiefs in Miami.
And buying some more wine.
An exhausting weekend ahead?!!? LOL
I've had my say!
Have a good weekend.
WT
bobbyrash
At around $2 per thousand standard cubic feet of natural gas (Mscf), as an approximation current price.
A discovery of 30 Bcf with the Echo share being 70%.
So 30,000,000,000 Scf/1000 Scf X $2 (price) X 0.7 (Echo Share) = Around $40M
Mscf Thousand Standard Cubic Feet
Bscf Billion Standard Cubic Feet
s Standard Measured at 60 deg Fahrenheit and 14.7 psia (Pounds per square inch absolute)
WT
MrMarkyB
To be honest, I am not that interested in photographs or webcams.
I want to see technical detail that can be assessed.
Well flowrates, be they be oil or gas that contribute to our bottom line.
We do not want to get an RNS in 6 months or a year telling us that they have fallen off a cliff edge and our income stream with them.
How many of you now how many barrels of oil these wells that we just acquired, produced last year?
How many cubic metres of gas flowed and were sold and at what price?
Many of you will probably know the combined number in BOE, or do you?
The sales of which will fund future exploration or will you be happy to see further dilution in the value of your shares?
Just asking?!?
Write a email, it takes just a few minutes?
Martin Hull CEO - m.hull@echoenergyplc.com
That will be a worthwhile contribution!
And you will be looking after YOUR INVESTMENT.
WT