8 January 2021 | 07:59am
StockMarketWire.com - Energy company Echo Energy signed it had signed a cooperation agreement with GTL International, a subsidiary of the Bolivian company UruboCorp, to originate and execute transactions across the energy sector in Bolivia.
Under the agrement, the company and GTLI had granted each other a six month period of exclusivity to assess new business development opportunities across the energy sector in Bolivia.
The cooperation agreement had an initial term of five years and may be terminated by either party without penalty on providing 6 months notice.
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6 January 2021 | 08:54am
StockMarketWire.com - Oil and gas company Echo Energy said it had won a new contract to supply gas from its Santa Cruz Sur assets, onshore Argentina, at a premium of more than a fifth to the prevailing spot price.
This new contract was with a key gas customer for four months until end April 2021, after which the company would supply the customer with approximately 1.4 MMscf/d gross of natural gas.
The gas price under the contract was a flat $2.00 per mmbtu, representing a significant 28% premium to the prevailing local spot price in the fourth quarter of 2020, the company said.