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Echo Energy said it expected first of four planned wells at the Tapi Aike prospect in Argentina to get underway in the fourth quarter of 2019.
Echo Energy and project operator Compania General de Combustibles were continuing to progress tprocessing of a 3D seismic survey acquired across the block in 2019.
In the eastern portion of the survey area, five areas had now been selected for surface location permits.
An environmental impact assessment covering these locations had been submitted to the provincial authorities.
One of the locations would be selected to drill the La Vanguardia x-1 well, currently expected to be drilled to around 3,000 metres using the Petreven H-205 rig.
'I am pleased to report that we continue to make good progress as we prepare for the start of the Tapi Aike drilling campaign,' chief executive Martin Hull said.
'The La Vanguardia x-1 well will be the first of a proposed four well drilling programme on the Tapi Aike asset, which has the potential to deliver material value for the company and its shareholders.'
'We look forward to providing further updates as we continue to refine the subsurface analysis of the basin and progress with drilling preparations.'
At 2:36pm: (LON:ECHO) Echo Energy Plc share price was -0.15p at 2.35p