Echo Energy plc

Equities

ECHO

GB00BF0YPG76

Oil & Gas Exploration and Production

Market Closed - London S.E. Other stock markets 11:35:15 2024-04-29 am EDT			5-day change	1st Jan Change
0.0039 ^GBX	0.00%		-2.50%	-61.00%

Feb. 15	New York pension fund further restricts investments in Exxon, other oil companies	RE
Feb. 08	Nexxen expands partnership; Geiger considers listing	AN

Echo Energy extends GBP1.0 million loan to 2025, cuts interest

December 19, 2023 at 12:54 pm EST

Echo Energy PLC - Latin America-focused exploration company - Restructures GBP1.0 million loan originally provided to company in March 2017. Extends loan to November 30, 2025 with current principal and accrued interest to date has been reduced by 10%. As a result, the total amount outstanding as at November 30 stands at GBP898,028, with a new annual lower interest rate of 2% agreed, which will be rolled up and paid at maturity. Says the purpose to the restructuring was to extend the term whilst also reducing the overall level of debt and preserving cash balances by avoiding further interest payments. Agrees to pay a GBP15,000 fee to the lender. Chief Executive Officer Stephen Birrell says: "I am delighted with the support shown by our lender, the Spartan Fund Limited SAC. Echo is full steam ahead originating and negotiating multiple business development opportunities and we look forward to updating investors in due course."

Current stock price: 0.011 pence, up 4.8%

12-month change: down 92%

By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	BIST 30	10,947 PTS	+2.01%	+4.96%	-
	ECHO ENERGY PLC	0.0039 GBX	0.00%	-2.50%	698K

Latest news about Echo Energy plc

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
Atlantic Lithium confident after Ewoyaa study	23-06-29	AN
Echo Energy Shares Slump Amid Delayed FY22 Annual Report Publication	23-06-29	MT
Interoil Closes Purchase of Echo Energy's Participating Interests in Argentina Concessions	23-06-28	MT
Echo Energy seals sale of most of Santa Cruz Sur stake	23-06-27	AN
Echo Energy Completes Partial Sale of Santa Cruz Sur Assets	23-06-27	MT
Interoil Argentina S.A. and Selva MarÃa Oil S.A. acquired a 65% interest in five exploitation concessions located in the Province of Santa Cruz, Argentina and a 95% interest in and to the transport concession on the OcÃ©ano area from Echo Energy Plc.	23-06-26	CI
FTSE 100 Closes Friday Up 0.7% on Commodities Rebound, Signs of Debt Deal Progress	23-05-26	DJ

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Company Profile

Echo Energy plc is an upstream energy company. The Company is a full-cycle, exploration-led, gas-focused Company with an asset base in Latin America. Its segments include Corporate and Administrative, Santa Cruz Sur. Santa Cruz Sur is 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 12 producing oil and gas fields with existing infrastructure allowing the delivery of oil and gas to local, domestic, and international export markets. The Companyâs Huayco and Rio Salado blocks lie in the south of Bolivia within the sub-Andean foothills of the Tarija Basin. The region is a hydrocarbon province with multi- trillion cubic feet (Tcf) gas resources. The Rio Salado license surrounds the Huayco block and lies in southern Bolivia, approximately 290 kilometers (km) south of the city of Sucre and 60 km east of Tarija.

Sector

Oil & Gas Exploration and Production

Calendar

2024-05-01 - Q4 2023 Earnings Release (Projected)

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Sector Other Oil & Gas Exploration and Production

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