The Company is pleased to confirm that it has secured a further gas sales contract at a premium to prevailing spot market rates. This new contract, for volumes which had previously been supplied to another party under a gas sales contract expiring in early
The Company continues to sell gas under a combination for secured contracts of up to a year in duration and spot sales and the result of the new contract is that approximately 60% of daily gas production from
The execution of this new contract is in line with the Company's strategy to secure market leading pricing for its products in anticipation of increasing production pursuant to its future work programmes.
Contact:
Tel: +44 (0) 20 7390 0230
Note
The assignment of Echo's 70% non-operated participation in the Santa Cruz Sur licences is subject to the authorisation of the Executive Branch of
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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