{"id":65411,"title":"Echo Energy PLC (LON:ECHO) Completion of Acquisitionof five mature producing blocks","publisher":"Share Talk","author":"sharetalk","published":"2019-11-13T09:42:38+00:00","modified":"2019-11-13T09:42:38+00:00","canonical_url":"https://www.share-talk.com/echo-energy-plc-lonecho-completion-of-acquisitionof-five-mature-producing-blocks/","markdown_url":"https://www.share-talk.com/echo-energy-plc-lonecho-completion-of-acquisitionof-five-mature-producing-blocks.md","json_url":"https://www.share-talk.com/echo-energy-plc-lonecho-completion-of-acquisitionof-five-mature-producing-blocks.json","category":"Energy","categories":["Energy"],"tags":["ECHO","Echo Energy PLC"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"**Martin Hull, Chief Executive, commented:** I am delighted to complete this transaction, which will be a key catalyst for Echo. We believe we have secured a very attractive price for a package of assets which provide the Company with a balanced, revenue-generating portfolio with significant upside as well as exciting near-term drilling opportunities.\n\nI look forward to updating shareholders on our progress in due course, not least as we finalise preparations for drilling at Tapi AIke.\n\nEcho Energy, the Latin American-focused upstream oil and gas company, is pleased to announce that the acquisition by the Company of a 70 per cent. initially non-operated working interest in the Santa Cruz Sur package of five mature producing blocks (the “Santa Cruz Sur Assets”), from Petrolera El Trebol SA, a subsidiary of Phoenix Global Resources plc has now completed.\n\nTerms defined in the Circular dated 22 October 2019 apply throughout this announcement, unless the context requires otherwise."}