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ASSETS OVERVIEW

Echo Energy is a mid-cap Latin American exploration company in the making.

Echo, however, continues to hold interests in certain non-core assets across Egypt, Tunisia and Italy.

Significant value has not been attributed to these assets and the Company has announced it is therefore planning to exit these interests.

The Tunisian portfolio remains under review.

LATAM

Echo has identified and is in discussions with various parties in relation to asset opportunities across multiple geographies in Latin America.

Italy

Echo has a stated agreement to avoid conflict of interest between Sound Energy plc and its officers which includes Echo exiting its Italian business and not having any future business in Morocco.The Company is therefore actively and formally exiting all legacy interests in Italy.

Tunisia

Echo, through a wholly owned subsidiary, holds a 100 per cent interest in the Ksar Hadada exploration permit covering an area of 2,252 square kilometres onshore south-east Tunisia.

The extension to this permit was granted in 2016 and its status as the operator of the permit was confirmed in August 2014.

Recent light oil discoveries in the Ordovician immediately to the south of the block have now validated the potential of the Ksar Hadada Ordovician prospects. Across the border in Libya very high oil production rates have been achieved on test from multiple Acacus wells, providing added attraction to the Acacus play on Ksar Hadada.

As a result of the extensive remapping work and new seismic acquisition undertaken by Independent Resources and its partners over the last few years, existing prospects have been better defined (Sidi Toui structure) within the Ksar Hadada permit area in the Ordovician Bir Ben Tartar quartzites.

Echo is undertaking a strategic review of its interests in Tunisia

LATIN AMERICA

Echo has identified and is in discussions with various parties in relation to asset opportunities across multiple geographies in Latin America.

Specific asset details will be published following the announcement of the first of Echo’s strategic acquisitions.

OUR LATIN AMERICAN ASSETS

Boliva – View More

TUNISIA

Echo, through a wholly owned subsidiary, holds a 100 per cent interest in the Ksar Hadada exploration permit covering an area of 2,252 square kilometres onshore south-east Tunisia.

The extension to this permit was granted in 2016 and its status as the operator of the permit was confirmed in August 2014.

Recent light oil discoveries in the Ordovician immediately to the south of the block have now validated the potential of the Ksar Hadada Ordovician prospects. Across the border in Libya very high oil production rates have been achieved on test from multiple Acacus wells, providing added attraction to the Acacus play on Ksar Hadada.

As a result of the extensive remapping work and new seismic acquisition undertaken by Independent Resources and its partners over the last few years, existing prospects have been better defined (Sidi Toui structure) within the Ksar Hadada permit area in the Ordovician Bir Ben Tartar quartzites.

Echo is undertaking a strategic review of its interests in Tunisia

ITALY

Echo has a stated agreement to avoid conflict of interest between Sound Energy plc and its officers which includes Echo exiting its Italian business and not having any future business in Morocco.The Company is therefore actively and formally exiting all legacy interests in Italy.