Sign up Australia
Proactive Investors - Run By Investors For Investors

Echo Energy agrees extension to proposed Argentinian farm-in deal, says progress continues to be made

Echo said it has agreed an extension to the closing date for an agreement from 29 December 2017 to 2 February 2018 “or a subsequent date which the parties may mutually agree”
Argentina map
The firm said further announcements will be made, as appropriate, in due course

Echo Energy Plc (LON:ECHO) has said progress continues to be made in advancing preparations for its proposed Argentinian farm-in deal, announced on November 1, with documentation at an advanced stage and there has been an extension to the closing date.

The South and Central American focused upstream gas company’s proposal is for a farm-in to 50% interests in each of the Fracción C, Fracción D and Laguna De Los Capones concessions and to a 50% interest in the Tapi Aike exploration permit, each located onshore in Argentina.

READ: Echo Energy reveals details of Argentina acquisition

The concessions and exploration permit are each currently held 100% by Compañía General de Combustibles SA (CGC).

Echo said it and CGC have now agreed an extension to the closing date for an agreement from 29 December 2017 to 2 February 2018 “or a subsequent date which the parties may mutually agree”.

The firm said further announcements will be made, as appropriate, in due course.

As, by virtue of its size, the transaction constitutes a reverse takeover under AIM rules, Echo shares remain temporarily suspended from trading since October 30.

View full ECHO profile View Profile

Echo Energy Plc Timeline

Related Articles

oil and gas operations
October 03 2017
"This placing will strengthen our balance sheet while we concurrently work towards finalising the project financing, operations program and plan for our OPL 226 project offshore Nigeria"
oil and gas operations
January 30 2018
Chief executive Matthew Idiens described the initial seismic results as “a watershed moment” for Rose
picture of oil wells
September 06 2017
The core of the portfolio is in the East Midlands Basin, which includes the Wressle-1 oil discovery

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use