Reconnaissance Energy (Africa) Ltd V.RECO

Stupid question

[Buyhigheatchips]

Here's a question:

If by June or whatever we have a report that we indeed are sitting on an active petroleum system where does that put the chances of finding oil? The report will play a big part in where to to drill but then is it just a matter of holes drilled? I guess at that point there will be a willingness to spend a lot of money exploring. 

And will we do some exploring ourselves but also farm some out?

[Chas15]

If there is an active petroleum system and they've structurally located it then there's oil, they've already found it. They aren't bringing on board members and spending money on seismic just cause. They've already loacted oil pockets that they want to target. They've already told shareholders that they have an interest in farming out some locations. 

[Goaweigh]

I believe this is where the seismic surveys come in. We may have discovered an active petroleum system and it's possible we drilled into a trap and have brought oil to surface but even if no oil to surface yet finding the system is key. Now finding a trap and bring oil to surface is the next step. I believe we have seismic in country don't we or did they say they would complete 3

[Goaweigh]

Sorry, I've got too many deals on the go. Of course they started shooting seismic Jan 18, only a week after announcing the start of drilling.  Interesting.

[Buyhigheatchips]

Seismic still in permitting phase. Hopefully will start soon. I've gone over the material on the website but very little about what happens after confirmation of an active petroleum system. Common sense tells me they just continue drilling based on all of the new information they have. It also makes sense that they would farm out exploration at this point. I imagine it would easy for them to

[Buyhigheatchips]

At $20 a share, dilution will be kept to a minimum ; )