Echo Energy plc

Equities

ECHO

GB00BF0YPG76

Oil & Gas Exploration and Production

Market Closed - London S.E. Other stock markets 11:35:12 2024-06-28 am EDT			5-day change	1st Jan Change
0.0031 ^GBX	-6.06%		+3.33%	-69.00%

Jun. 28	Echo Energy annual loss narrows on reduced expenses	AN
Jun. 07	Kibo Energy shakes up board, issues shares and may delist from JSE	AN

Echo Energy annual loss narrows on reduced expenses

June 28, 2024 at 04:48 pm EDT

Echo Energy PLC - Latin America-focused exploration company - In 2023, pretax loss narrows to USD2.8 million from USD4.3 million. Revenue is zero, little changed from a year ago. Administrative expenses fall to USD1.2 million from USD3.0 million and finance costs decrease to USD1.8 million from USD3.0 million. Finance income, however, falls to USD203,371 from USD1.6 million.

Says careful management of cash balances, successful debt renegotiation and equity fund raises supported business flexibility and stability. Ends the period with USD0.08 million cash at bank compared to the prior year balance of USD1.1 million.

Current stock price: 0.0030 pence

12-month change: down 93%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Echo Energy plc

Echo Energy annual loss narrows on reduced expenses	Jun. 28	AN
Kibo Energy shakes up board, issues shares and may delist from JSE	Jun. 07	AN
Echo Energy Enters Convertible Loan Note Agreement	Jun. 06	MT
Echo Energy plc announced that it expects to receive £0.5 million in funding	Jun. 05	CI
James Parsons to Step Down as Non-Executive Director of Echo Energy plc	May. 30	CI
North American Income replaces investment manager	May. 09	AN
Echo Energy Exploring Latin American Gold Project Purchase Amid Expanded Strategy	May. 09	MT
New York pension fund further restricts investments in Exxon, other oil companies	Feb. 15	RE
Nexxen expands partnership; Geiger considers listing	Feb. 08	AN
Echo Energy to Issue Warrants	Feb. 08	MT
Echo Energy Completes Equity Raise	Feb. 07	MT
Echo Energy plc announced that it has received £0.1684 million in funding	Feb. 06	CI
Echo Energy raises GBP250,000 via subscription of new shares	Jan. 29	AN
Echo Energy Obtains GBP500,000 Loan Facility from UK-based Investor	Dec. 21	MT
Echo Energy extends GBP1.0 million loan to 2025, cuts interest	Dec. 19	AN
Echo Energy plc Announces Successful Debt Restructuring	Dec. 19	CI
Echo Energy hires new CEO as director promoted to chair	Nov. 14	AN
Echo Energy Appoints New CEO, Chairman	Nov. 14	MT
Echo Energy plc Announces Executive Changes	Nov. 14	CI
Echo Energy plc Announces Board Changes	Nov. 14	CI
Echo Energy reports pretax losses in double results update	23-10-02	AN
EARNINGS AND TRADING: Clean Invest reports interim loss and no revenue	23-10-02	AN
Echo Energy plc Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-29	CI
Echo Energy plc Reports Earnings Results for the Full Year Ended December 31, 2022	23-09-29	CI
Barryroe hires examiner in bid to avoid liquidation	23-07-31	AN

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Company Profile

Echo Energy plc is a United Kingdom-based full cycle, exploration led, gas focused company with an asset base in Latin America. Its portfolio of operations is located in Argentina and Bolivia. It holds a 5% minority stake in the joint venture in Argentina, which holds Santa Cruz Sur, a collection of five production concessions located in the onshore Austral Basin, southern Argentina. The assets sit to the northeast and southeast of its Tapi Aike exploration block. The license portfolio consists of over 12 producing oil and gas fields with existing infrastructure allowing the delivery of oil and gas to local, domestic and international export markets. Its Huayco and Rio Salado blocks lie in the south of Bolivia within the sub-Andean foothills of the Tarija Basin. The Rio Salado license surrounds the Huayco block and lies in southern Bolivia, over 290 km south of the city of Sucre and 60 km east of Tarija. It is also focused on exploring potential opportunities to secure new assets.

Sector

Oil & Gas Exploration and Production

Calendar

2024-09-26 - Q2 2024 Earnings Release (Projected)

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Sector Other Oil & Gas Exploration and Production

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