Business
Appointment of COO and Bolivia Update
Appointment of COO and Bolivia Update.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3357H Echo Energy PLC 12 March 2018 \n\n12 March 2018\nEcho Energy plc\n(\"Echo\" or the \"Company\")\nAppointment of Chief Operating Officer and Bolivia Update\nEcho Energy plc, the South and Central American focused upstream oil and gas company, is pleased to announce the appointment of Geoff Probert as Chief Operating Officer and to provide an update on its technical work programme in Bolivia.\n \nChief Operating Officer Appointment\n \nThe Company is delighted to welcome Geoff Probert as Chief Operating Officer. Geoff brings over 30 years of operational experience with an upstream career including senior and executive roles around the globe with Shell, BHP Billiton and most recently as North Africa Managing Director for Petroceltic. Geoff is a recognised expert in exploration drilling, field appraisal, field development and field rehabilitation operations and brings with him a wealth of experience in asset monetisation. Geoff has a degree in Chemical Engineering and a Masters degree in Petroleum Engineering from Heriot Watt University.\n \nBolivia Update\n \nIn Bolivia the Company has been working to progressthe exploration opportunity in Huyaco and Rio Salado following the signatures of the joint evaluation agreement with Pluspetrol Bolivia Corporation SA (\"Pluspetrol\") and the Rio Salado technical evaluation agreement between Pluspetrol and YPFB (Yacimientos Petrolíferos Fiscales Bolivianos) in July 2017.\n \nThe Company, alongside their subsurface consultants, ERC Equipoise, EPI and DMT Petrologic, has been focused on construction and completion of the geological and structural model incorporating field and seismic data which confirms the potential for a deep footwall structure.\n \nReprocessing of the 250 square kilometres of seismic data (originally acquired in 1998) has now been completed utilising the most advanced algorithms and workflows, including 5D interpolation and proprietary CRS (Common Reflection Surface) technology to gain an uplift in time domain imaging and reduction of data noise typical in the mountainous fold and thrust belts. More data will be available to the Company later this year and the Company intends to incorporate that data to enhance their model in the deeper section.\n \nThe exciting technical work programme will now foc...