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Bullboard - Stock Discussion Forum 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... see more

TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > To compare, how long did it take Saudi Arabia to find oil?
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Post by RawSienna on Oct 24, 2021 2:23pm

To compare, how long did it take Saudi Arabia to find oil?

"American oil engineers would be forced to drill wells in seven different areas before making a significant discovery of oil, almost five years after drilling first began."
-From a businessinsider article Saudi Aramaco, History of the Worlds Biggest Public Company
Comment by Fredo51545 on Oct 25, 2021 2:07pm
There was no seismic tech available. They drilled randomly on apparent surface anticlines.
Comment by RawSienna on Oct 25, 2021 3:44pm
Seems like it was available but i'm not sure they used it there. https://aoghs.org/technology/exploring-reflection-seismography/ Anyways, we're in good shape for our timeline.
Comment by CammerRec on Oct 25, 2021 9:12pm
My impression is that it happened very quickly in the 20's and 30's (maybe sooner) and helped the House of Saud cement it's place as the dominant ruling force in Arabia. I have heard it said that they if one stuck pipe in the sand oil will sprout. True or not but there obviously is a lot of good oil accessable in Saudi Arabia.  
Comment by RawSienna on Oct 25, 2021 11:52pm
Just saying, their journey sounds a lot like ours except maybe we are a little ahead of them in both the timeline and technology, and I hope the end results are equal. Lots of people around here pretty worked up we haven't hit the motherlode yet.
Comment by CammerRec on Oct 26, 2021 2:08pm
Yup Rawsiena, there are a lot of worked up folks lately. But I think we are more like Prudhoe Bay in Alaska than Saudi Arabia. My impression they got very lucky in SA and things happened relatively quickly as compared to Prudhoe Bay that took countless drillings and years before they hit the giant finds.   
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