Reconnaissance Energy (Africa) Ltd V.RECO

Other examples?

[Psychdoc]

Hi all, quite excited about finding this company, the upside seems tremendous. Does anyone have examples of other oil stocks that started at this low   price and how high their prices ended up going? When I read that the current land is valued at $10 per acre and could easily be $850 per acre if it has oil that seems like tremendous upside.

[Donmac]

yeah i remember BP had a discovery in Persia in 1923 they went on to do quite well but then i think they where called Imperial oil hope thats helpful

[Donmac]

Candy ,baby, stealing comes to mind. And me being ah canny Scotsman is gonny steal it aw .God an theres me thinkin it wis jist the the yanks that wurny aw there man oh man whit kin ah say.am outa here.

[Turned2Gold]

You been drinking?  

[Ebenizer3]

Just for grins: Hilcorp sells eagleford acreage to Marathon, 141,000 net acres for 3.5 billion. Albeit oil was around $100 bbl. So about $25,000 an acre in 2011. https://ir.marathonoil.com/2011-06-01-Marathon-Oil-Corporation-Announces-3-5-Billion-Acquisition-of-Eagle-Ford-Shale-Assets. If reconafrica hits I think even at $30 oil times 8.75 mil acres they should eke out a profit. The conventional

[Elephants]

Well any oil company that successfully finds a decent sized commercial discovery can go from pennies to a market cap in the billions. There are hundreds of examples of that. The difference here is the entire basin is owned by recon and it covers an area slightly smaller than half of wales and potentially more oil than several other countries. They could farmout to several supermajors, dozens of

[teheran10]

I would go for 35-50% recovery rate most likely.  10 bln barrels x $3-$5 profit x 5-10 factor/nr of shares and years of well life.  I'm thinking overal $70-$85/share maybe $200 if the pool is huge. 

[Psychdoc]

How soon do you think it gets to that price? Once the 3 wells are drilled or you thinking a few years down the road?

[crude]

supposed to begin drilling in Dec - info at website!

[teheran10]

I believe that the first successful well propells us to $10-$20 and so forth. 

[Elephants]

But the oil in place estimate by Jarvie is possibly 100 billion not 10. So, add a zero. On top of that, with all the shut ins and bankruptcies in the US we might see $100 oil sooner than some think. That Biden guy doesn't like US fracking either.

[teheran10]

I'm going by the most conservative estimates, my estimates, so that's why i am putting these low figures. The potential is staggering. 

[minigoon]

Even though we have been granted ( an essential service within country ) the rig still has to go through other countries once it gets to port accross the pond, this won't be as easy as one may think. There will be major pre planning just to get the rig to site 

[teheran10]

Don't you think they have already looked at all the logistical issues? I would think so. 

[Letsmake1]

I heard that shipping will cost approx $700k....This would indicate they are not using the US Postal Service and have all details worked out with all precautions taken. Look at the mgmt team and advisors and Chairman Mr, Park is an international petroleum lawyer.... Not their first rodeo 

[FrackEmAll]

Namibia is on the coast and has a port.

[basherbuster]

Yes ... the logistics could be very tricky if they do not have a good freight forwarder. I have seen many delayed shipments because of late paperwork. The shipping lines do not care how much you pay them. The time from loading with a rigger to cut-ff time has to be precise. However I am sure the logistic forwarder will be the very best but the Steam liner waits for noone without proper

[basherbuster]

This link should work. [url=C:/Users/Owner/Downloads/Schedule.pdf]Houston - Walvis Bay Schedule[/url]