Echo Energy Canada Inc. generated over $2.4 Million in revenues in 2006 through its natural gas production operations near Port Burwell Ontario, Canada on the shores of Lake Erie. In the first 6 months of 2007, the company has generated $1.2 Million in Revenues while expanding its portfolio of natural gas wells.
The company holds over 40,000 acres of gas leases in Southern Ontario and has drilled over 70 gas wells. The asset value of the oil and gas properties as of June 30, 2007 is $44,409,136.
The company's balance sheet features very favourable debt ratios and the company currently has the cash flow to continue its operations into the forseeable future.
The "average" producing rate from Thorold/Grimsby gas wells, where most of Echo Energy's wells are located, is 20 to 100 Mcfd(Thousand Cubic Feet per Day), many of the wells are in the upper range of flow rate expectations.
Echo Energy Canada Inc. has a significant interest in two companies, Echo Power Generation Inc. and Twenty Two Degree Energy Corp., which are moving forward with pre-construction activities to develop two wind energy projects in Ontario one near Lake Erie and the other near Lake Huron.The company continues its exploration and development work and has created more than 80 jobs during the construction of its natural gas pipelines and installation of its compressor site.