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Echo Energy hires new COO and updates on Bolivia progress

"We continue to make significant progress technically and in strengthening our senior resource,” said chief executive Fiona MacAulay
oil and gas operations
Drilling decisions will come later

Echo Energy Plc (LON:ECHO) has announced the appointment of Geoff Probert as its new chief operating officer and updated investors on activities in Bolivia, where desktop work continues to advance the group’s exploration portfolio.

The explorer has completed a package of seismic reprocessing, for around 250 square kilometres, and it noted that more data will be incorporated into its studies later this year.

READ: Echo Energy details plans for projects in Argentina

Additionally, it highlighted the opportunity to progress to a commercial agreement by completing a technical evaluation, due in the second half of this year.

Echo expects that the selection of new well locations will wait until the results of regional well drilling are known, and it expects that the programme would follow the introduction of a new partner.

"We continue to make significant progress technically and in strengthening our senior resource,” said chief executive Fiona MacAulay.

“It has already been a busy year for Echo, including in Bolivia, and I am pleased that the complex advanced techniques employed to enhance the seismic data have enabled us to build a more robust model across the acreage under consideration.

“Efforts will now be focused on defining the prospectivity across the Huayco and Rio Salado acreage alongside evaluating other complementary opportunities in the region. 

MacAulay highlighted that Probert, the new chief operating officer, brings ‘invaluable skills’ as the company advances its busy operation plans for its recently acquired Argentina assets.

Probert has previously held senior and executive roles at Shell, BHP Billiton and Petroceltic.

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