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.

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Reconnaissance Energy (Africa) Ltd > The KING shall speak.....

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Comment by Matteo1234on Jan 28, 2022 7:04am

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Post# 34370068

RE:RE:The KING shall speak.....

“RECO and Haywood interpret the 56% and 61% water saturation values as indicative of 44% and 38% oil saturation. This is a major misrepresentation of the drill results.”

Viceroy

Counterpoint:

“When determining the type of porosity in a given formation we know this porosity can be made up of two things, water or hydrocarbons. With finding out the amount that is water we then can determine the ratio of water to hydrocarbon saturation which is as simple as 1-Sw. (Using the Archie equation, which takes into account resistivity.)”

Source: https://www.cordax.com/news-and-blog/2018/11/22/determining-formation-water-saturation-from-open-hole-logs#

“The presentation lacks any data on formation water resistivity which can be obtained from formation water salinity through the Archie and Simandoux equations. Proper analysis would require a water sample which Netherland Sewell do not allude to, only stating that water saturation estimates based on log data. An error in their water resistivity values could easily move the water saturation values, especially in the low porosity 1350 level.”

Viceroy

Counterpoint:

The red herring: the “error” that Netherland Sewell apparently made. This is a massive assumption based on literally zero evidence.

Correct me if I’m off the mark here guys. , but working on improving my knowledge. FWIW this seems to be the “best” Viceroy report.

level 2

Flames_Fanatic

·5 mo. ago

One thing that hasn’t really been discussed is oil vs water wet carbonates. I have seen carbonate reservoirs with relatively low So that produced with no water. The porosity system itself can have a huge impact on both the permeability and which fluid preferentially produces. Recon should have a lot better idea on this once the Core Lab sidewall plug work is completed.

Continue this thread

level 2

DifficultFunction940

·5 mo. ago

So, if the analysts made an error, the results could be wrong... ? Yes. Always. I am actually encouraged by that one, as it feels like the short side is trying to fill space.

Continue this thread

level 1

Konval

·5 mo. ago

I appreciate shorts, because they present the best bear thesis that we otherwise wouldn't get from all of the retail bulls. They also keep the management in check with only putting out rock solid NRs. With that said, the bear thesis here is and has been extremely weak and only serves to reinforce my long position. Its a matter of time before Viceroy changes their tune and starts using climate change and environmental issues as the core of their misinformation campaign.

level 2

Think_Hard_Retard

·5 mo. ago

They often spread false information, and anyone that appreciates that, doesn't appear to grasp the gravity of the situation... They devalue your investment by means less than upstanding. Glad you appreciate that, but many here do not.

Continue this thread

level 2

Impressive-ADHD

·5 mo. ago

That explanation is complete hogwash. An opposing position fueled by lies and misrepresentation isn't a bear thesis.

Operations funded by shady characters waging war across multiple markets isn't a short thesis. Share depreciation blocks the company and investors from capital to properly develop or attempt to properly de-risk and develop the asset.

Once upon a time they thought a share price was too high isnt a bear thesis. Its a gamble by the scum of the earth. Frasier and the lost boys are broke. He's just the public face getting paid to put out ludicrous garbage and take the heat.

The Bear Thesis is pretty damn simple... No commercial discovery equals no $$$.

Everyone wants the shorts to be gone including the shorts!

level 1

Ele412

·5 mo. ago·edited 5 mo. ago

Ill save you all the trouble of reading that report.

Everyone is lying except Viceroy, the self appointed Oil and Gas expert with 6 months experience , garnered whilst sitting in his computer chair. (Aka park bench)

level 1

TAOKEN55

·5 mo. ago

Guys, Viceroy are scum and do nothing but short stocks, fine if the company had issue however Viceroy has put together as much smear and false sheot t together as possible otherwise they are going to lose millions and are f_____!!! They are selling their own shares again to try and drive the price down - they even state on their website and articles that it is for entertainment and basically could all be false.

level 1

RickMeierDraftNight

·5 mo. ago

Timing pre conference is sus. Perhaps they need this as low as possible before this event?

level 1

Pats2k1

·5 mo. ago

They are getting desperate

level 1

Comment deleted by user·5 mo. ago

level 2

Green_Lantern_4vr

·5 mo. ago

Don’t do this.

level 1

SuperDaddy1987

·5 mo. ago

Wow. The first popup upon linking is a lengthy legal disclaimer:

"Important Disclaimer – Please Read And Acknowledge Before Continuing"

They're definitely CYA on their FUD libel.

Gotta admit, though, shorts demonstrate ice bucket power against investor enthusiasm. SP is down near the April 15th exuberant "Working Petroleum System" 6-2 announcement. Even the bigger 6-1 announcement and NSAI third party 6-2 confirmation hasn't yet broken short tactics.