Business
Extension to publication of 2021 Accounts
Extension to publication of 2021 Accounts.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \n \n \n \n \n 27 June 2022\n \n \n \n \n \n \n \n \n Echo Energy plc\n \n \n \n (\"\n \n Echo\n \n \" or the \"\n \n Company\n \n \")\n \n \n \n \n \n \n \n \n Operational and Commercial update\n \n \n \n \n \n \n \n \n \n Extension to publication of 2021 Audited Report and Accounts\n \n \n \n \n \n \n \n \n Echo Energy plc, the Latin American focused upstream energy company, announces that AIM Regulation has granted the Company an additional period of up to two months to publish its annual audited accounts for the year ended 31 December 2021. The Company must therefore publish its annual audited accounts for the year ended 31 December 2021 (the \"2021 Annual Report\") by 31 August 2022 but will endeavour to do so as soon as possible. \n \n \n \n \n \n This additional period is in view of the adverse impact of COVID-19 having resulted in delays in the ability of the local Argentinian Santa Cruz Sur joint venture entity in which Echo holds a 70% interest (the \"SCS JV\") to provide information to its Argentinian auditor. As a result, the Argentinian auditor has been delayed in the finalisation of the SCS JV audit, which the Company now expects to be concluded during July 2022. The Company remains in constant dialogue with both the Argentinian auditor and Echo's UK auditor to seek to conclude and publish the 2021 Annual Report as soon as is possible.\n \n \n \n \n \n The Company is also pleased to provide a production and commercial update regarding its Santa Cruz Sur assets, onshore Argentina, where production during the period from 1 January 2022 to 18 June 2022 reached an aggregate of 243,230 boe net to Echo during the period, including 44,905 bbls of oil and condensate and 1,190 MMscf of gas.\n \n \n \n \n \n Net liquids production in Q2 to 18 June 2022 averaged a 267 bopd, a slight increase on Q1 levels despite a 35-day maintenance and upgrade programme on the Oceano field during Q2, when oil and gas production from the field was temporarily brought offline.\n \n \n \n \n \n Net gas production averaged 6.7 MMscf/d in Q2 to 18 June 2022, a reduction compared to the Q1 2022 figure of 7.4 MMscf/d as a result of the Oceano field production being brought temporarily offline for maintenance and upgrades to the compressor...