RE:RE:RE:RE:RE:RE:RE:Shallow drill depth CONTRADICTS a 30,000 feet basin@Hiddensecrets, no offence but it seems like you invested in ignorance and are selling in ignorance. No one with any knowledge of oil and gas would have ever assumed that 30,000 ft were producible, but you continually made evident that that is what you thought. A basin depth simply
means the depth of deposition sitting on the continental craton/crust (please don't crucify me for my lack of technical geology jargon). The western Canadian sedimantary basin near the Rocky Mountains in Alberta is something like 6000m deep but no one ends up drilling and producing from that, the vast majority of the oil and gas is produced between 2000-3000 m but the basin is 2-3 times as deep. The shallow depth of investigation of these 2 wells simply indicates that RECO likely won't be producing or exploring at further depths, which MAY limit overall reserves in the basin... but no one knows at this point.
My point is, there is the same amount of information available to the public now as there was 2 weeks ago, but for some reason those without any technical knowledge expected some silver bullet of information to send the stock to the stratosphere, and when that didn't happen, those individuals sold - that scenario is completely unrealistic by the way. So those that are disappointed are either presently ignorant or were ignorant when they invested. JimGeorge is 100% correct, there has not been any release of significant information to justify the press or share price, but then again, this is a speculative oil and gas junior in Africa, it's part of the game/bet. This isn't the end of the world. Am I a little disappointed they didn't drill further, sure. But looking at 200m of potential production ~1600m deep is nothing to scoff at. It will take time to determine the viability, and in the mean time, impatient investors will likely bail because they initially thought of a quick payoff which was never going to happen (this is not a wildcat well situation). This is also carbonate that they found, very different from sand and especially shale, so unless someone has a decent level of technical knowledge, it is going to be difficult to find analogous fields to realistically compare this to. However, I would love to hear from anyone who may have analogous fields/ formations that they know of to dig into.