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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the opening of Kavango Sedimentary Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. It holds 90% interest in a petroleum exploration license in northeast Namibia and a 100% interest in petroleum exploration rights in northwest Botswana over the entire Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (6.3 million acres) and 8,990 km2 (2.2 million acres) in Botswana. The two licenses together comprise 34,325 sq km (8.5 million acres). Its conventional drilling program is focused on analyzing the rocks to determine if there is a working petroleum system in the Kavango Basin.


TSXV:RECO - Post by User

Post by TurnToTheRighton Sep 04, 2021 2:59pm
504 Views
Post# 33814700

A Little Perspective

A Little PerspectiveJust to put the results into perspective a bit. Throw a dart at a 10 foot by 10 foot map, what are the chances you put it at the best location to drill? Maybe the results are better than some expected or worse, but you need more than 2 data points to draw credible conclusions regarding the commercial viability of this play. To all the overly optimistic or pessimistic individuals here, hold your horses. These wells drilled  could be the best wells or some of the worst in the formations. It's going to take more time and more holes to begin to fully delineate and de-risk this, so patience is going to be needed. Even some "failed" wells provide information and some value, and by no means indicate what's across the entire lease.

One of the questions I do still have is are they going to drill any deeper wells for exploration purposes, because these wells are relatively shallow, and bit of a far cry to what was expected. But I'm still invested until a lot more data becomes available to indicate whether or not this play is commercially viable.
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