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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

Comment by jimgeorgeon Sep 02, 2021 3:24pm
415 Views
Post# 33804350

RE:RE:RE:RE:RE:News

RE:RE:RE:RE:RE:NewsI will give my analysis, but first the positives....
Now that Recon has released the log data (some of the zones anyway), it's clear to me that the well was a success as a "strat well". They wanted to find a sedimentary basin (that's clear now, although the total basin depth is still unknown). They wanted to find reservoir rock and evidence of hydrocarbons, check and check.

Now the bad news...the reservoir rock in the zones highlighted in the NS report is pretty low grade - interbedded sands and shales, and the sands are silty, and interbedded carbonates with silt and anhydrite. Pretty poor porosity in general and low perms if the best they mentioned was a few millidarcies.

The only beds with any oil saturation at all are the low porosity zones, that's because the immovable oil bound to the pore walls fills what little pore space there is. Any porous zone is clearly wet, but oil has migrated through these zones (hence the oil shows). They have nothing to production test, no pay zones at all. I wish they would stop hinting that the seismic data can somehow create a pay zone in this well to production test.

Stop dreaming about rivers of oil and a reservoir joining the 6-2 and 6-1 wells....there's no oil yet! And Turntotheright, they didn't show the data on all the zones, they obviously only showed the best zones! That's why we won't see all the data.

But this STRAT WELL is a success. The next steps are not just using the seismic to find a closed structure, they also need to find a well-developed reservoir (with a lot more than a few millidarcies of perm - we always wanted at least several hundred millidarcies in a carbonate, and a good clean sandstone can get to several darcies of perm).

I'm warming to this story, but it's way to early to pop the champagne corks!
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