Reconnaissance Energy (Africa) Ltd V.RECO

Schedule

[Sandpoint]

Here is my take on the upcoming schedule. The seismic operation will run to Nov 1. The next move will be to drill for oil. So they will take some time to analyze the seismic and drill data to pick a spot that they hope will produce oil. So give them a month to do that. Drilling would then start around Dec 1. The first two wells took about 5 months drilling time, so lets say, the 3rd one takes 2.5 months. So that means that we are looking at mid Feb 2022 for a positive result of oil. I would hope that they would publish strong data before the third well begins drilling.  If we are lucky they will post some of the other drill data before November. But the bottom line is that we are aout 6 months from having the first flow of oil.

[lamulah]

You are way off on timeline. I'll make it simple. There will be a JV deal by end of year.

[lamulah]

From RECAF 6-8 weeks of seismic Results from 2nd well should be released within a month or 2 max JV soon after June 24, 2021     In this article:      

[Buyhigheatchips]

So in terms of catalysts that will make me stop regretting not putting a stop loss on at $13 :/ 1) Is there some very positive announcement that can come out of the seismic like a good indication of reservoirs? 2) Maybe something out of the next hole if seismic points them to a reservoir? 3) Any more details out of the first two holes? Probably not right? 4) JVs with a big name or two by end

[Sandpoint]

It seems to me that the information flow is being driven by the government. There is a lot of information on both wells that has not been released. Not sure why. But it seems to me that additional information could be release in the next month or so. This could be a near term positive. The NR on the RECAF web site say that the seismic is going until the end of October, and that at that point all

[Buyhigheatchips]

Thanks Sandpoint. Any other takes on this? Turntotheright?  

[yrmac]

I regret to dind't sell at $14.00 I will be happy to sell at $12.50, but I don't know when it will be possible. When I read chas this is not encourageant