Echo Energy PLC Completion of Tapi Aike Seismic Acquisition (6725C)
19 June 2019 - 4:00PM
UK Regulatory
TIDMECHO
RNS Number : 6725C
Echo Energy PLC
19 June 2019
19 June 2019
Echo Energy plc
("Echo" or the "Company")
Completion of Tapi Aike Seismic Acquisition
Echo Energy plc, the Latin American focused upstream oil and gas
company, is pleased to announce the safe and efficient completion
of the 3D seismic survey across the western cube on its Tapi Aike
licence in Argentina and that processing of the western cube data
acquired has now commenced. Equipment is currently being
demobilised out of the area by the seismic acquisition contractor
UGA Seismic S.A.
The timely completion of seismic acquisition at Tapi Aike prior
to the end of H1 2019 is a key operational milestone for the
Company and one which ensures that the pathway to drilling Tapi
Aike remains on track - with spud currently anticipated to take
place in Q4 2019. The Company is working closely with its
Argentinian partner, and operator of the Tapi Aike licence, Compan
i a General de Combustibles S.A. ("CGC"), to drill early in that
window now that the seismic acquisition phase has completed.
Sesimic data acquired is now being processed by respected
independent processing houses in Buenos Aires, with the processing
of the eastern cube (Chiripa Oeste, 414 sq km) data by Wellfield
Services LTDA nearing completion and the processing of western cube
(Travesia de Arriba, 790 sq km) data being undertaken by Seismic
Prospect S.R.L.
The acquisition and processing of 3D seismic at Tapi Aike builds
on the previous interpretation of the large amount of historical 2D
data that exists on the block (3,400 line km 2D with average line
spacing of 4 km), which is guiding the processing priorities of the
new 3D data.
Echo looks forward to updating shareholders in due course, and
as appropriate, as it continues to progress towards drilling.
For further information, please contact:
Echo Energy m.hull@echoenergyplc.com
Martin Hull, Chief Executive Officer
Cenkos Securities (Nominated Adviser)
David Jones
Ben Jeynes +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
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
ACQGGUAUQUPBGQR
(END) Dow Jones Newswires
June 19, 2019 02:00 ET (06:00 GMT)
Echo Energy (LSE:ECHO)
Historical Stock Chart
From Apr 2024 to May 2024
Echo Energy (LSE:ECHO)
Historical Stock Chart
From May 2023 to May 2024