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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).


TSXV:RECO - Post by User

Post by farml1234on Aug 27, 2021 11:04am
320 Views
Post# 33775624

The idiots running Mexico are stupid

The idiots running Mexico are stupid

Latest on Pemex Platform Disaster

 
The Pemex platform that burned apparently was a critical component to the field production, in that it was the primary support that provided a supply of NG being injected into the field. When the platform burned, production stopped - idling over 700 mbbls/d.
 
Pemex had a fix, which was implemented and is allowing an immediate, at least partial resumption of production. Pemex is now injecting nitrogen into the wells in lieu of NG. It is allowing production to resume, but is likely causing major permanent damage and a long term reduction to EUR's.
 
As Bloomberg puts it in an article published today:
 
 The problem with the short-term fix is that nitrogen also disperses oil inside the reservoirs into several pockets, making exploration not only more difficult but also more expensive in the long term, one person said. Natural gas is usually used instead to create enough pressure to allow oil to flow out of wells.
 
It looks like Pemex decided to keep production going now come hell or high water, and deal with the fallout later. This will not help Mexico meet their production targets in 2022 and forward.
 
 

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