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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF | V.RECO.WT | RCNWF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest Botswana over the Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (km2) (6.3 million acres) of oil and/or gas exploration properties comprising Blocks 1719, 1720, 1721, 1819, 1820 and 1821 situated in the Kavango Basin of northeast Namibia (the Namibia Licensed Property) and approximately 7,592 km2 (1.88 million acres) in Botswana (the Botswana Licensed Property). The two licenses together comprise over 32,933 km2 (8 million acres).


TSXV:RECO - Post by User

Comment by TurnToTheRighton Aug 06, 2021 12:37pm
266 Views
Post# 33663734

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Shallow drill depth CONTRADICTS a 30,000 feet basin

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Shallow drill depth CONTRADICTS a 30,000 feet basin

@Ebenizer3, the problem with the information  you are asking RECO to disclose is that it is pretty much as useless as the mud logs. One or 2 wells worth of cores and wireline logs, as well as seismic data, is useless unless it is analyzed to develop some sort of reservoir model, from which an IDEA of reserves can be formed. This takes time, so the ultimate info everyone is asking for is months off. And unless you are a geologist or engineer, any raw data relating to cores and wireline logs will not mean anything, so why release data when it won't do anything. 

Investors have to realize that this is a new basin, and there really isn't many analogous situations that disclosure can be compared with. Almost all the basins in North America have had thousands of holes drilled, cored and logged so in that context of a fully explored field, I would agree that releasing core or log info would be useful. But in this context pretty much 3rd party reservoir confirmation and in flow production testing are the only numbers us retail investors should care about. There are those like JimGeorge that can make sense of the very technical subsurface measurements, but I find it difficult to justify a disclosure of info that benefits few investors and discloses technical data to industry experts/competitors.

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