RE:reco mentioned Key Portions:
Onshore
In 2022, wells to watch include Reconnaissance Energy Africa’s shift to testing its Kavango Basin theory.
The company has drilled stratigraphic wells, and reported hydrocarbon shows, but the next phase will incorporate results from the 2D seismic. Drilling is due to begin in the second half of next year.
ReconAfrica will also begin seeking a partner to its Namibian project in the first quarter, CEO Scott Evans said.
Next phase funding
Costs are lower onshore, at least initially, but do run the risk of delays and more challenging circumstances.
Retail investors appear receptive to onshore opportunities, as can be seen in the share price rises of ReconAfrica and Invictus Energy. As these projects mature, though, larger companies will need to come in to provide capital – and that enthusiasm seems lacking, at least for now.