Business
Audited results year ended 31 December 2016
Audited results year ended 31 December 2016.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9153G Echo Energy PLC 01 June 2017 \n\n\n\n\n\nEcho Energy plc\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n(\"Echo Energy\" or the \"Company\" or the \"Group\")\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\nAudited results for the year ended 31 December 2016\n\n\n \n\n\n\n\nChairman's statement\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\nEcho Energy plc is a London listed Latin American focused mid-cap gas company in the making. The company\n\n\n \n\n\n\n\nis pursuing a high-value, piped, onshore gas strategy across South and Central America, commencing with a\n\n\n \n\n\n\n\nMulti Tcf potential exploration portfolio. Select corporate transactions in the region are also under evaluation.\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\nOn 6 March 2017, after the financial year end, the company announced a carefully orchestrated relaunch which saw the re-shaping\n\n\n \n\n\n\n\nof the Board, the introduction of a cornerstone investor in the form of Greenberry plc, an associate of Continental Investment\n\n\n \n\n\n\n\nPartners, an open offer as well as the renaming of the company. These elements combined to fully rebrand the\n\n\n \n\n\n\n\ncompany and set a platform for a new and exciting journey.\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\nThe open offer was a vital component to that relaunch providing private investors in Echo an opportunity\n\n\n \n\n\n\n\nto access this high growth vehicle, led and backed by an experienced and successful team, on the same terms as\n\n\n \n\n\n\n\nour cornerstone investor. The fair treatment of private investors is central to the philosophy of Echo and will remain\n\n\n \n\n\n\n\nso going forward. \n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\nOn 18 April 2017, the company announced its decision to pursue a LATAM regional exploration strategy focused\n\n\n \n\n\n\n\non multi Tcf, low cost, onshore gas piped to high value, growing markets. This strategy was based on a combination\n\n\n \n\n\n\n\nof elements, which included the recently increasing growth across the region, the increasing shortage of gas in the\n\n\n \n\n\n\n\nmajor markets of Brazil and Argentina and a historic period of regional underinvestment in the sector. In combination,\n\n\n \n\n\n\n\nwe believe these provi...