Echo Energy PLC (AIM:ECHO) Drilling Commences on EMS-1001

 

Echo Energy plc, the Latin American focused upstream oil and gas company, is pleased to announce the commencement of drilling of the third exploration well in a four well back-to-back campaign in the Company’s Fracción C and Laguna de Los Capones assets, onshore Argentina in Joint Venture between Echo and its Argentine partner Compañía General de Combustibles S.A. (“CGC”).

 

The Petreven H-205 rig has commenced drilling of the Company’s third exploration well EMS-1001 (‘El Molino Sur’) which is located in the southern area of the Fracción C licence.  The well is targeting a structural 4 way closure at the Springhill and Tobifera levels and will be drilled to a measured depth of approximately 2,250 metres. Gross prospective unrisked oil initially in place for the structure on a Pmean basis is estimated at approximately 60 MMbbls (included in the recent Competent Person’s Report produced by Gaffney Cline & Associates).  

 

The Company will update shareholders with progress on the exploration drilling programme as the programme advances.

www.echoenergyplc.com

 


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