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Reconnaissance Energy (Africa) Ltd V.RECO

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

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

Post by RawSiennaon Apr 04, 2023 11:17am
266 Views
Post# 35378650

Interesting statistic on this line from news release

Interesting statistic on this line from news release "Importantly, a natural gas seep has been located on top of one of these elongated anticlines."

82% of wells drilled near seeps were comercially successful according to this Schumacher article

"To assess the association of seepage and subsurface accumulations of petroleum, Schumacher (2012) compiled seepage survey results for more than 2,700 exploration wells and compared the results with subsequent drilling outcomes. Locations were in frontier and mature basins, onshore and offshore, and in a wide variety of geologic settings. Subsurface drilling targets were from 300 m (984 ft) to more than 4,900 m (16,076 ft), and there was a full spectrum of trap styles. The presence of seepage was inferred from soil gas, microbial, iodine, radiometric, and/or magnetic surface surveys. Eighty-two percent of wells associated with surface seepage anomalies were considered commercial discoveries, and 11 % of wells drilled without a documented surface seepage anomaly resulted in discoveries. The measure of association was economic viability determined by external factors, and not the presence or absence of petroleum in the subsurface. The sites chosen for analysis in this study were not random; they were based on conventional prospect evaluation methods. This study illustrates that seeps are often only surveyed for in areas suspected of being oil and gas prospects, thus limiting geographic coverage."
 
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