Superb Article on OilPrice about RECAF WOW! too good to just link https://oilprice.com/Energy/Crude-Oil/Could-This-Be-The-Biggest-Winner-Of-The-Oil-Price-Boom.html
Onshore oil discoveries are pretty much a thing of the past. The last time anyone got remotely excited about one was in 2017, when giant Repsol discovered 1.2 billion barrels in Alaska’s North Slope. But a giant E&P company making a discovery doesn’t really move the needle for investors… But the potential multi-billion-boe potential in Namibia’s Kavango Basin could be a whole different story.
It could be the last major onshore discovery the world ever sees - and a multi billion boe potential is worth repeating. And for us the most exciting part? The entire Kavango Basin is licensed to a small-cap explorer called Reconnaissance Energy Africa (TSX.V: RECO, OTCMKTS:RECAF) with an experienced team of geologists working with some of the industry’s premier service companies, Schlumberger and Halliburton. And they just finished an extensive 450-square-kilometer seismic acquisition aimed to determine the details of a much-anticipated multi-well drilling program starting in Q1 of next year.
There’s a reason when insiders are buying even if short sellers are trouncing the share price. If they weren’t excited about the potential results from their 450-sq km of seismic and the Company’s future prospects, they probably wouldn’t be buying up more and more. In our view this is a patience play, and the most exciting part may be still to come. Seismic results will help guide Recon Africa where to drill, and Netherland Sewell are expected to then give us a resource estimate, which is what we have been waiting for. We think it’s worth the wait. And here are 3 key reasons why: #1 The Namibian government is fully on board #2 Good things come to those who wait #3 What happens next could be truly seismic This is about 1/3 of report.
The rich and powerful celebrities and shorts opposed to RECAF just got kicked in the teeth. Up 39% in last 3 days. BTW the reason people like Prince Harry is opposed? He admitted in Wash Post it was because he thinks Recon has found 10s to 100s of billions of barrels of oil in Namibia and does want it to developed.
I have commented a lot on it there.