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 Botswana over the Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (km2) (6.3 million acres) of oil and/or gas exploration properties comprising Blocks 1719, 1720, 1721, 1819, 1820 and 1821 situated in the Kavango Basin of northeast Namibia (the Namibia Licensed Property) and approximately 7,592 km2 (1.88 million acres) in Botswana (the Botswana Licensed Property). The two licenses together comprise over 32,933 km2 (8 million acres).

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Reconnaissance Energy (Africa) Ltd

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Post by Bpultraon Aug 06, 2021 9:49am

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Post# 33662899

cut and paste from reddit.. good read

I summarized some key facts (not everything, just what I think is most relevant) from the recent Recon Africa ( RECO RECAF 0XD ) news release [1] and try to link them with the breadcrumbs we got from the Core Lab ER [2].

1. Horizon Well Logging Report from Mud-Logs:

Proven oil and wet-gas shows in multiple intervals
Quotes from Doug Milham, CEO:
- "...the potential resource that has been discovered with their first two wells."
- "...presence and quality of oil and gas shows... was remarkable"
- "...many positive indicators of hydrocarbons encountered throughout both wells."
- "...project with world-class potential"
massive sand body from 1000 to 1100m appears clean with high porosity
--> confirmed by a 3rd party, not Recon

2. The Hydrocarbon Show Analysis of Dan Jarvie:

migrated petroleum, not source rock --> reservoir rock
evidence of fracture and matrix porosity in zone 2
zone 2 primary target potential for production testing
Gas+Oil zone 1 on top of a light-oil dominated zone 2
Speculation from my side if the 2 reservoir zones are connected: That's just what you'd expect from a reservoir, isn't it? Gas on top, oil below.
oil shows and oil-crossover indicative of generated petroleum, migration, and trapping in a conventional, reservoir quality rock demonstrating all the necessary components and processes of effective petroleum systems

3. News Release from Recon:

6-2 well 250m / 820ft of hydrocarbon shows
6-2 well - 3 zones with hydrocarbon shows
6-1 well 350m / 1148ft of hydrocarbon shows
6-1 well - 7(!) zones with hydrocarbon shows
the hydrocarbons are migrated from off structure sources
both wells prepped for VSP and production testing
extension of exploration now possible, mapping of entire leasehold
future drilling locations will target potential hydrocarbon bearing structures from the seismic program with the purpose of achieving commercial levels of oil and natural gas production.
1 - 2 more wells will be drilled after 2d seismic in 2021
farm out JV process to accelerate exploration and development

4. Earnings Report of Core Lab:

... Core Lab's Reservoir Applied Petrophysical Integrated Data Zoom (RAPIDZoom™) services to assess rock properties and identify prospective reservoir targets over a thick interval of predominantly marine strata.
... expedited oil-in-place assessments.
... evaluation of potential reservoirs in this expansive, onshore sedimentary basin.
--> more confirmation by a 3rd party, not Recon