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Echo Energy new boss Fiona MacAuley says she’s “hugely excited” about ambitious growth strategy

“I remain hugely excited by our ambitious regional growth strategy and look forward to updating shareholders on further progress in the near term."
Onshore oil drilling
Echo says it is making "considerable progress" evaluating the Huayco prospect

Echo Energy Plc (LON:ECHO) chief executive Fiona MacAuley, on her first day in the job, told investors she is “hugely excited” by the group’s ambitious regional growth strategy.

MacAuley’s comments come as the newly rebooted oil and gas junior released its first quarterly portfolio update.

In the update, Echo said it has made ‘considerable progress’ with its South and Central America focussed strategy. It reported that initial technical work has started to mature the Huayco exploration prospect, in Bolivia.

WATCH: Zak Mir on Echo Energy

The company also said it is in advanced talks with various parties in relation to other opportunities in Bolivia, and efforts are underway to further bolster the management team. It said it is having  discussions with various candidates regarding the regional managing director role.

It is also progressing with the registration of its legal entity in Bolivia, expected in the coming weeks, and it noted that the Huayco acquisition remains subject to the findings of its technical evaluation and regulatory approvals.

“I am pleased to initiate the first of our routine quarterly portfolio updates, which highlights our strong positioning in Bolivia and beyond,” MacAuley said.

“I remain hugely excited by our ambitious regional growth strategy and look forward to updating shareholders on further progress in the near term." 

MacAuley, previously chief operating officer of Rockhopper Exploration, was named chief executive of Echo Energy in June, with a designated start date of July 5.

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