Echo Energy PLC Update re Tapi Aike Seismic and Fracción C (0636R)
February 26 2019 - 1:00AM
UK Regulatory
TIDMECHO
RNS Number : 0636R
Echo Energy PLC
26 February 2019
26 February 2019
Echo Energy plc
("Echo" or the "Company")
Update re Tapi Aike Seismic and Fracción C
Echo Energy plc, the Latin American focused upstream oil and gas
company, is pleased to announce the safe and efficient completion
of the 3D survey on schedule across the eastern cube on Tapi Aike.
Initial indications suggest very good data quality. The equipment
will now mobilise to the western cube and start acquisition once
all equipment is on site and surveys have been completed. The
eastern cube (Chiripa Oeste) covers 414 sq km and the western cube
(Travesia de Arriba) covers 790 sq km and will underpin the Tapi
Aike drilling campaign.
The Company also confirms that it is currently utilising the
results of mechanical stimulation at the EMS-1001 well at the
Company's Fracción C licence, onshore Argentina, to refine a
mechanical stimulation design for the ELM-1004 well. This refined
stimulation design, once complete, will be considered in the light
of the reservoir characteristics at the location and enable a final
decision to be taken on whether to proceed with the
stimulation.
For further information please contact:
Echo Energy
Martin Hull, Managing Director m.hull@echoenergyplc.com
Cenkos Securities (Nominated Adviser)
David Jones
Ben Jeynes
Katy Birkin +44 (0)20 7397 8900
Hannam & Partners (Joint Corporate Broker)
Giles Fitzpatrick
Andrew Chubb
Ernest Bell +44 (0)20 7907 8500
Shore Capital (Joint Corporate Broker)
Jerry Keen +44 (0)20 7408 4090
Vigo Communications (PR Adviser)
Patrick d'Ancona
Chris McMahon +44 (0)20 7390 0230
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Note
The assignment of Echo's participation in the Fracción C,
Fracción D, Laguna Los Capones and Tapi Aike licences is subject to
the authorisation of the Executive Branch of Santa Cruz's Province,
which is part of the overall process of title transfer that is
proceeding as anticipated. The licences are operated by Compan i a
General de Combustibles S.A. ("CGC").
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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