The company was relaunched as a vehicle to build up a Latin American gas business. Echo Energy will be transformed by the deal, announced in November, to farm into four licences in the Austral basin in southern Argentina. In return for carrying its partner for much of the initial work programme, the company will earn a 50% interest in these four licences. These assets offer an exciting mix of current production, discoveries, as well as very significant exploration upside in an overlooked but proven hydrocarbon basin. This deal has a potential to offer an exciting exciting risk/reward profile. This deal gives the company critical mass and provides a base for further expansion.
Echo Energy was relaunched in Q1 2017 as a vehicle to build up a significant Latin American upstream gas business. Echo Energy now has a new management team led by Fiona MacAuley who is the Chief Executive Officer (previously COO of Rockhopper Exploration). Will Holland is the CFO (previously at Halliburton and Macquarie Bank), Julian Bessa is VP Exploration (previously BG Group in Latin America) and James Parsons is Non-executive chairman of Echo Energy. Continental Investment Partners SA is the main cornerstone investor. The initial Latin American entry for Echo Energy was a technical evaluation agreement on exploration acreage in the highly prospective part of the Tarija Basin in Bolivia. However, the group has been transformed by a deal which saw the company farm into four licences in the Austral basin in southern Argentina.