Echo Energy (ECHO)

Sector:

Energy Producers

 0.003p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.038
  • 52 Week Low: 0.003
  • Currency: UK Pounds
  • Shares Issued: 18,687m
  • Volume: 144,173,984
  • Market Cap: £0.58m

Independent Resources places 91.9m shares

By Natasha Roberts

Date: Friday 30 May 2014

LONDON (ShareCast) - AIM-listed Independent Resources (IRG) saw its shares slide on Friday after it announced plans to raise £2.76m before expenses by way of an equity fundraising of 91.9m shares at 3p each.

The funds raised will help the group meet the substantial financial commitment required for the planned extension to the Ksar Hadada Permit, with the immediate priorities for IRG and its partners currently being preparing for re-entry of one of the existing wells in the Ksar Hadada Permit area and engaging in shooting 3D seismic.

The proceeds of the placing will enable it to meet these costs and cover the necessary working capital commitments.

"IRG has sought tenders for a 3D seismic programme over the key areas of the Ksar Hadada Permit identified as prospective," it explained.

"It is anticipated that the tender process could be completed in the early Autumn of 2014 with seismic acquisition to follow."

The share price dropped 17.97% to 3.75p by 13:10.

NR

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Echo Energy Market Data

Currency UK Pounds
Share Price 0.003p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.038
52 Week Low 0.003
Volume 144,173,984
Shares Issued 18,687m
Market Cap £0.58m

Echo Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.05% above the market average28.05% above the market average28.05% above the market average28.05% above the market average28.05% above the market average
47.37% below the sector average47.37% below the sector average47.37% below the sector average47.37% below the sector average47.37% below the sector average
Price Trend
98.61% below the market average98.61% below the market average98.61% below the market average98.61% below the market average98.61% below the market average
95.06% below the sector average95.06% below the sector average95.06% below the sector average95.06% below the sector average95.06% below the sector average
Income Not Available
Growth
36.52% below the market average36.52% below the market average36.52% below the market average36.52% below the market average36.52% below the market average
53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average

Echo Energy Dividends

No dividends found

Trades for 15-May-2024

Time Volume / Share Price
15:00 9,000,000 @ 0.003p
12:54 83,333,333 @ 0.003p
12:52 45,000,000 @ 0.003p
11:28 6,354,402 @ 0.003p
10:04 41,562 @ 0.003p

Echo Energy Key Personnel

CEO Stephen Birrell

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