Reconnaissance Energy (Africa) Ltd V.RECO

ea corde protulerim

[peterj99]

FWIW
They drilled successfully 2 exploratory wells and found a working petroleum system
They were going to drill a third well nearby

They probably have had the 2D seismic for that area for a month or so
So, drill that third well and get a second rig on site and drill until the oil gushes.

Then you can talk to a partner with a royal flush in hand

The only real failure is NOT to try

[CammerRec]

Agree. Let us remember it took a few drills till Prudhoe Bay in Alaska was found to be a stunning success.

[FastIroc]

Speaking of that, been away for a couple of weeks, last news was we are suposed to get the results from the. 2D survey......is the timeframe still good ?

[grenouille]

check your pronouns... "WE are supposed to get the results...?" the way i heard it was, "THEY (the compay) were supposed to get..." there are several reasons the company might delay releasing such results.

[Buyhigheatchips]

What part of the seismic results would be useful information for investors anyways? I guess if they came back with "We couldn't identify any targets worth drilling" that would be material but the chance of that seems vanishingly small.   

[TurnToTheRight]

Exactly my thoughts. Seismic wouldn't be useful to investors, it needs to be analyzed and, personally, I would like to see RECO disclose if and why there is a location change to the pad location, but other than that, I would agree and guess only a material change affecting the company would be disclosed in addition to "2D is complete".

[peterj99]

As an investor, I don't give a Krapp about wire logs, mud logs, seismic etc. I want to hear words like oil wells, barrels per day etc Words that help my pocket book. I bet the Namibians want to hear the same words that investors do. Investors "invest" to make money, not to learn I can get all the geology I want online As an investor, I assume the company has great geologists

[CammerRec]

Peter, I have to agree even though I have to respect technicalities but am not absorbed in a lot of it. What I have learned over the years is that the more studies, consultants, and experts are inviolved the more confusing, conflicted and muddled things become.  BP not long ago, employing batteries of experts, studies and drillings on a field came up dry and they wrote off about a

[CammerRec]

Pad location? I did not think that we were anywhere near production but still in exploratory operations. Please clarify. Thanks. 

[TurnToTheRight]

I used the term "pad location" colloquially. I meant the well surface location. We're not at exploration drilling yet, let alone determining if multi-well horizontal pads are appropriate for this play. Sorry for any confusion the term may have caused.

[CammerRec]

No problem thanks for the clarification.