Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 > Interesting statistic on this line from news release
View:
Post by RawSienna on Apr 04, 2023 11:17am

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."
 
Comment by pacer001 on Apr 04, 2023 12:11pm
I would settle for a large nat gas discovery. In some ways it might be better than oil!
Comment by jimgeorge on Apr 04, 2023 12:41pm
Yeah, I would have thought they would drill their first well there.  They mentioned this seep years ago...
Comment by RawSienna on Apr 04, 2023 12:51pm
Should at least give us an idea that traps are present and from what I've read oil and gas are very frequently found together or in close proximity to each other, that it was sitting on one of said anticlines is even better. Seemed to be the one thing nobody talked about on the release LOL.
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities