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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.

Egypt

Echo Energy, through its joint venture (JV), holds a 25 per cent interest (50% to the JV) in the East Ghazalat concession located in the Western Desert region of Egypt, approximately 240 kilometres southwest of the city of Cairo in a platform region over the Sharib-Sheiba high.

Field facilities are located 130 km south west of El Alamein, a city located on the Mediterranean coast 106 km west of Alexandria.

East Ghazalat The Concession consists of two development licenses covering approximately 62 km2. There are currently six wells on production producing approximately 880 barrels of oil per day (bopd), based on average June 2015 production levels (440 bopd net to the JV interest). The concession also includes two gas discoveries, but no reserves have been attributed for these discoveries.

Echo is undertaking a strategic review of its interests in Egypt.

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.

EGYPT

Echo Energy, through its joint venture (JV), holds a 25 per cent interest (50% to the JV) in the East Ghazalat concession located in the Western Desert region of Egypt, approximately 240 kilometres southwest of the city of Cairo in a platform region over the Sharib-Sheiba high.

Field facilities are located 130 km south west of El Alamein, a city located on the Mediterranean coast 106 km west of Alexandria.

East Ghazalat The Concession consists of two development licenses covering approximately 62 km2. There are currently six wells on production producing approximately 880 barrels of oil per day (bopd), based on average June 2015 production levels (440 bopd net to the JV interest). The concession also includes two gas discoveries, but no reserves have been attributed for these discoveries.

Echo is undertaking a strategic review of its interests in Egypt.

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.