Reconnaissance Energy (Africa) Ltd V.RECO

Superb Article on OilPrice about RECAF

[Geodan2]

WOW! too good to just link https://oilprice.com/Energy/Crude-Oil/Could-This-Be-The-Biggest-Winner-Of-The-Oil-Price-Boom.html

Onshore oil discoveries are pretty much a thing of the past. The last time anyone got remotely excited about one was in 2017, when giant Repsol discovered 1.2 billion barrels in Alaska’s North Slope. But a giant E&P company making a discovery doesn’t really move the needle for investors… But the potential multi-billion-boe potential in Namibia’s Kavango Basin could be a whole different story.

It could be the last major onshore discovery the world ever sees - and a multi billion boe potential is worth repeating. And for us the most exciting part? The entire Kavango Basin is licensed to a small-cap explorer called Reconnaissance Energy Africa (TSX.V: RECO, OTCMKTS:RECAF) with an experienced team of geologists working with some of the industry’s premier service companies, Schlumberger and Halliburton. And they just finished an extensive 450-square-kilometer seismic acquisition aimed to determine the details of a much-anticipated multi-well drilling program starting in Q1 of next year.

There’s a reason when insiders are buying even if short sellers are trouncing the share price. If they weren’t excited about the potential results from their 450-sq km of seismic and the Company’s future prospects, they probably wouldn’t be buying up more and more. In our view this is a patience play, and the most exciting part may be still to come. Seismic results will help guide Recon Africa where to drill, and Netherland Sewell are expected to then give us a resource estimate, which is what we have been waiting for. We think it’s worth the wait. And here are 3 key reasons why: #1 The Namibian government is fully on board #2 Good things come to those who wait #3 What happens next could be truly seismic This is about 1/3 of report.

The rich and powerful celebrities and shorts opposed to RECAF just got kicked in the teeth. Up 39% in last 3 days. BTW the reason people like Prince Harry is opposed? He admitted in Wash Post it was because he thinks Recon has found 10s to 100s of billions of barrels of oil in Namibia and does want it to developed.

 

I have commented a lot on it there.

[Adwari]

Thanks Geodan2. Those frabricated Rudy Giuliani-like law firms filling court cases against RECO can go to "hell"

[yrmac]

it's teh same on Lightspeed the sp is down since 2 days.

[doggiestyle]

I want to add to my position but don' trust this rally. It has been nothing but Pumping and Bashing in this stock since early August and the price is getting tossed around like paper in the wind.  They need to validate that they have commerical oil and until they do the shorters and traders are going to be in total control of this - no matter how many Oilprice articles we get.  I

[Bpultra]

----------------------- yes... great for day trading with out question ...  and nothing wrong with waiting to confirm solid support before adding .. that is prudent  good luck .... but that is always why I always hold a long block and trade around it ..  

[doggiestyle]

True,I'm not a trader so staying away until there is something tangible. Smart traders were likely buying on Monday and selling today. (Knowing me - I'd likely be doing the opposite if I was trying to trade it - so I think I'll just sit and watch) 

[Bpultra]

=========== the only problem with that is you could think oh  it is a good time to buy and it will be at the top...  you have to do alot of DD and do your own  DD not what you read here or hear here ... you either believe in the DD you have done and hit the buy button or this is not the stock you should even be looking at .... I started buying heavy at 2.60 .. so I may have some

[CammerRec]

I think you got this wrong Geo. From your post: "Prince Harry is opposed? He admitted in Wash Post it was because he thinks Recon has found 10s to 100s of billions of barrels of oil in Namibia and does want it to developed."   I really don't see him as wanting anything developed based on his background of opposing development.  

[jimgeorge]

Hey Geodan, the seismic program is 450 linear kilometres of 2D seismic, not 450 sq km of 3D. As a Geo you should know the difference! For everyone else out there, 2D seismic is a less detailed tool used primarily for regional geologic interpretations, 3D is typically used to detail a known reservoir after production is proven.