Reconnaissance Energy (Africa) Ltd V.RECO

multi well drilling in Q1 2022

[peterj99]

My opinion:

They mentioned a multi well drilling program for early Q1 2022

They will target traps and conventional reservoirs encountered in their stratigraphic wells.

I never use the word multi to describe 2
If I mean 2, I say 2.
To me, multi means many.

How you would drill multi wells (by my definition) with one drill is beyond me.
They should get a few more drills on site ASAP
I wish they would get a better sense of urgency.
The higher the share price, the less dilution required to raise money.

[Bpultra]

=================== https://www.upstreamonline.com/exploration/its-a-wrap-reconafrica-finishes-namibia-shoot-ahead-of-early-2022-wildcat-campaign/2-1-1087216 ReconAfrica advisor and geophysical consultant Shiraz Dhanani said the company is set to start “a multi-well drilling campaign early in the first quarter of 2022, targeting seismically defined traps and conventional reservoirs already

[CammerRec]

Now I am just an investor but am becoming very concerned about the dancing around and the semantics of these reports. See below. So we do not have discoveries? They are a little tricky. What the? To me there either is oil or not. Is it bankable or not. I am concerned that we seem to be spending more time and money on reports that really are not conclusive in any sense. Now I am an old fashioned

[grenouille]

the qote said they were going to "START a multi-well drilling campaign." it is very possible to START with one well, drilled with one drill rig.

[TurnToTheRight]

Patience Peterj99, patience. Although you want to bring in another rig, it just can't be justified. Firstly, RECO owns this rig (very unorthadox for an E&P company) but only becuase it was cheaper to buy and retrofit this rig than it was to mobilize an approporiate rig from north america - I recall that being adressed by management in a Q&A, saying that RECO got a quote from Precision

[peterj99]

In your post you point out that RECO is a junior. Wasn't the market cap well over 2 billion at the high? LOL

[TurnToTheRight]

You are aware that peer groups aren't definitively defined by market cap. RECO has little production, therefore they are a junior, regardless of market cap. The majors are vertically integrated international companies. ConocoPhillips for example was no longer considered a major (that was always debatable) when they spun off their downstream assets (Phillips 66) and are now considered an "

[Ebenizer3]

question: if well #3 is not one of the original permitted sites, will we have to wait for another approval process?

[CammerRec]

Peterj99 as to your below: "How you would drill multi wells (by my definition) with one drill is beyond me." Now the technical terms are kind of nebulous to those non-experts but yes you can drill "multi" wells - it is called "pad drilling". It is an amazing new breakthrough it that if you drill one vertical hole you then can drill horizontal ones from it

[peterj99]

Thanks Good post. Multiple wells from same pad. Makes sense especially if targets are in the same sub basin.