Echo has announced that the 3D seismic survey across the western cube of its Tapi Aike licence in Argentina has been completed safely and efficiently. Processing of this data has already commenced and credit is due to the company for getting the process started in a timely and economically attractive fashion.
Whilst this announcement seems modest, and processing the data will take a while, investors should be pleased that the smaller eastern cubeProcessing is nearing completion which will give the team a good start towards further progress at Tapi Aike.
This progress should mean that all remains on track for drilling TA on time with a spud date still anticipated to be Q4 2019 with partner and operator CGC. Accordingly, shareholders in Echo have something to look forward to later in the year and the shares look somewhat undervalued at this level.