Post by
pacer001 on May 21, 2023 5:59pm
Guyana oil drilling - another long hard process!
Oil companies have been "mucking around" in Guyana for decades before they hit a gusher and the biggest oil finds.
But it all was a long time consuming and an extremely expensive process. See below:
"Speaking at a public lecture in Georgetown back in 2017, Guyanese Attorney-at-Law and Chartered Accountant, Christopher Ram, said while many people had expressed surprise following ExxonMobil’s world class Liza discovery in 2015, the surprise is really that it took so long."
So if Recaf is to hit anything worthwhile it will take probably decades and billions- assuming oil is still in demand and the environmentalists will allow it. In short Recaf under the most optimistic scenarios is still a dead end for most investors.