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Echo Energy keen to accelerate exploration following transformational Argentinian acquisition

Fiona MacAulay, chief executive of Echo Energy Plc (LON:ECHO), updates Proactive's Andrew Scott a day after they resumed trading following the release of an admission document on the proposed acquisition of assets in Argentina.

Echo is acquiring 50% stakes in three concessions - Fracción C, Fracción D and Laguna De Los Capones – as well as 50% in the Tapi Aike exploration permit.

Together this spans some 11,153 square kilometres in Argentina’s Santa Cruz province.

Echo says the transaction will give them “a compelling blend of multi tcf (trillion cubic feet) exploration potential, appraisal and production.”

Quick facts: Echo Energy PLC

Price: 0.375 GBX

AIM:ECHO
Market: AIM
Market Cap: £3.03 m
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