Business
Award of Seismic Reprocessing Contract
Award of Seismic Reprocessing Contract.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8157Q Echo Energy PLC 15 September 2017 \n\n15 September 2017 \n \nEcho Energy plc\n(\"Echo\" or the \"Company\")\n \nAward of Seismic Reprocessing Contract\n \nEcho Energy, the South and Central American focused upstream gas company, is pleased to announce the award of a seismic reprocessing contract for the 3D seismic data over the Huayco and Rio Salado blocks, onshore Bolivia. \n \nFollowing a competitive tender process between eight companies, the contract for reprocessing the existing 3D seismic across the Huayco and Rio Salado blocks has been awarded to DMT Petrologic who have extensive experience in the reprocessing of vintage data in similar thrust belt areas. The initial reprocessed tranche is anticipated by the end of November 2017 with the full scope of the work anticipated to be completed during Q1 2018. \n \nThe acquisition of an interest by Echo in Huayco and/or Rio Salado remains contingent on final commercial terms being agreed and accordingly the Company does not have an interest or the right to acquire any interest at this stage during the non-exclusive evaluation period. \n \nThe Company will also shortly be inviting investors to register their interest in an investor trip to the region in early 2018.\n \nFiona MacAulay, Chief Executive Officer, commented: \n \n\"I am very pleased to be able to announce the award of the contract for the seismic reprocessing which is a critical step in determining the future work programme across the Huayco and Rio Salado blocks. The level of interest and competitive bidding for the work with Echo was very encouraging and we look forward to working with DMT Petrologic over the next few months.\"\n \n \n \nFor further information please contact:\n \n\n\n\n\nEcho Energy plc\nFiona MacAulay, CEO \nWill Holland, CFO \nSarah Dees Investor Relations\n \n\n\n \[email protected] \[email protected] \[email protected] \n\n\n\n\nSmith & Williamson (Nominated Adviser)\nAzhic Basirov\nDavid Jones\nBen Jeynes \n \n\n\n +44 (0)20 7131 4000\n \n\n\n\n\nHannam & Partners (Advisory) LLP (Financial Adviser and Corporate Broker)\nGiles Fitzpatrick \nAndrew Chubb \nErnest Bell\n \n\n\n+44 (0)20 7907 8500\n \n\n\n\n\nVigo...