Echo Energy PLC Q3 Portfolio Update (1323K)
05 July 2017 - 4:00PM
UK Regulatory
TIDMECHO
RNS Number : 1323K
Echo Energy PLC
05 July 2017
5 July 2017
Echo Energy plc
("Echo" or the "Company")
Q3 Portfolio Update
Echo Energy, the South and Central American focused upstream gas
company, is pleased to provide the first of its quarterly portfolio
updates, including an update on its growing Bolivian interests
following the announcement dated 21 June 2017.
The Company is pleased to confirm considerable progress across
South and Central America, with a particular focus on Bolivia.
Specifically, the Company can confirm that:
-- The initial technical work to further mature the exploration
prospect in Huayco has commenced and tendering for the 3D
re-processing is underway;
-- it is in advanced discussions with various parties in
relation to other opportunities in Bolivia and further
announcements will be made in due course;
-- It is in discussion with various candidates regarding the
regional MD role, which will lead a dynamic regional team.
The Company also continues to move forward with the registration
of its legal entity in Bolivia, which is expected in the coming
weeks. As previously announced, the Company's operated interest and
obligations in the Huayco licence will only crystallise following
the completion of the technical evaluation programme, agreement
with Pluspetrol on a drilling programme, and the receipt of all
necessary regulatory approvals.
Alongside the Company's significant progress in the region, the
strategic review of its remaining Tunisian Exploration Asset
continues.
Fiona MacAulay, Chief Executive Officer, commented:
"I am pleased to initiate the first of our routine quarterly
portfolio updates, which highlights our strong positioning in
Bolivia and beyond. I remain hugely excited by our ambitious
regional growth strategy and look forward to updating shareholders
on further progress in the near term."
For further information please contact:
Fiona MacAulay Chief Executive, f.macaulay@echoenergyplc.com
Echo Energy plc
James Parsons Chairman, Echo Energy j.parsons@echoenergyplc.com
plc
ZAI Corporate Finance
John Treacy Ltd. 020 7060 2220
(Nominated Adviser)
Oliver Stansfield Brandon Hill Capital
Jonathan Evans (Broker) 020 3463 5000
Patrick d'Ancona
Chris McMahon Vigo Communications
Ali Roper (PR Adviser) 020 7830 9700
The information contained within this announcement is considered
to be inside information prior to its release as defined in Article
7 of the Market Abuse Regulation No. 596/2014 and is disclosed in
accordance with the Company's obligations under Article 17 of those
Regulations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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