Independent Resources will officially re-launch some time in April of this year as Echo Energy. Sources here are very strong. After my tête-à-tête rushing around London and Milan some juicy news has fallen my way. Even though I am ‘Persona Non Grata’ with the head honchos who told me that I was the one who ‘blew up’ their Ascent Resources deal. I did what I always do and that is to get the news out to the retail investor community. I’ve been on this story for 12 months and wasn’t going to ‘can’ it. I noticed Malcy Graham Wood was ‘quaffing’ around, so expect he’ll be getting the exclusive interview… The pie eater departed before I had a chance to bend his ear. I shall be having words with ‘Malcy’ one day.. I couldn’t give two hoots about corporate whinging and they were all told this. I do what I always do and get the information that counts. What they should have done, instead of ignoring my approach’s while playing ‘Corporate Kings’, with hindsight is for them to rue over. Next time take the calls and don’t ignore the emails etc. Otherwise you’ll end up yet again looking like ‘King Canute’.. It was their loss and a huge gain to retail investors and myself. Job Done.
At the risk of once again putting the ‘Parsons nose’ out of joint here is the news. From what I can glean there will be a huge strategic update within the coming weeks. This update will contain details of asset/s. Now what I do know is that Echo/IRG are going all guns blazing for asset/s with multi Trillion Cubic Feet (TCF) potential. I suspect that the deal has already been ‘Inked’ but cannot confirm that these assets have been sourced in South America. Brazil, Argentina or possibly Mexico. I have an idea of what the assets are but in order not to screw this deal up I will only update when I’m 100% certain. So I suggest to the powers that be, get it RNS’d as quickly as you can otherwise a BNS (Brokerman News Service) will do it for you. The share-price could be transformed yet again on the Strategic Update. It is a driver. 1p will be smashed and it could hit 2/3p over the next 12 months, maybe more… we just don’t know. If you hold stock keep holding and take up your portion of the Open Offer, it’s FREE MONEY.
I met some of the team in Milan. As per usual they were all on their guard when speaking to BMD 🙂 Nice people and people who know exactly where this venture is going. The financers are locked in for 6 months and have stated to me that they intend to stay in for 3 years. Do I believe this? As of today yes I do. However things change. In 12 months this SP will be multiples of where it currently sits. I’d expect as events move and change the pressure of POTENTIALLY being sat on tens of millions of pounds in profits may move the goal posts. Whatever happens Sound II have the backing of huge financial muscle, muscle that will stay the course.
I like Parsons, he’s a good guy. Fantastic dynamic individual and team player. I don’t have any concerns on the integrity of these people. They are real ‘corporate bastards’ (I say that in the nicest possible way) and will do what is needed to transform Independent/Echo into a genuine oil and gas company. It has only just begun….
All to play for…