- Echo Energy expressed disappointment that testing of its Campo La Mata exploration well in Argentina had returned non-commercial flow rates.

Results from testing the lower secondary target of the well, 'D3' or 'Anita' and the primary target, 'Magallenes 20" or 'Lobe C,' returned an estimated flow rate of 7.5-to-18 barrels per day and up to and 0.28 MMScf per day, respectively.

That missed the threshold of commerciality of approximately 1.0 MMscf per day, the company said.

Further technical work would now be undertaken by the Tapi Aike partners to 'aid the consideration of whether testing of these additional intervals should be undertaken,' Echo also said. Data from the well would now be used to 'calibrate and further inform our subsurface model and the join venture partnership will use this enhanced dataset to identify future drilling locations on the licence It is anticipated that the second Tapi Aike Exploration well will spud in the second half of 2020,' it added. Separately, the company also said testing operations at the recently drilled Campo Limite well at Santa Cruz Sur, were expected to commence, as scheduled, in the second half of February 2020. At 8:12am: [LON:ECHO] Echo Energy Plc share price was -0.6p at 1.45p

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