RE:RE:RE:RE:RE:Some techExactly right. Patience and steely resolve now. I feel everyone's pain who didn't sell at the top and endured this horror show of a price drop. Good results in a few months time from the work plan and news about JVs should have us back near the ATH. One hopes anyways.
And if we do have commercial quantities of oil our timing looks good as majors underinvest in new reserves and the world comes out of this pandemic.
TurnToTheRight wrote: @jimgeorge, I understand that the public are screaming for data and new releases, but what would be the rationale for releasing the wireline logging results from just this one well. Regardless of whether or not the w/l log results are good, the results aren't very indicative of the area without further data from seismic, the VSP, and additional wells (with associated logs and cores) to make an informed inference/estimation.
If you were in RECO's shoes, would you release the log and core results from one well, knowing full well that it is impossible tell anything about the commercial viability of the field, or if the results are indicative of the entire play?
This looks to have run too far too fast, without the material information to substantiate the valuation. There is still the very real possibility that the resources to substantiate a multi-billion dollar market cap exist, but it's gonna take more time to get the data necessary to determine the reserves and commercial viability. I'm still very long Reco, and believe we'll be back to the teens in a little while (but I don't have any idea if that is 2-3 months, a year, 2 years, etc.)