RE:We are in great company - Shell! Along with some of the largest names in oil exploration—Shell, Exxon, and Total—Reconnaissance Energy Africa (TSXV:RECO, OTC:RECAF) is also poised to take part in Namibia’s oil future, with RECO and NAMCOR definitely confirming in August the evidence of an active petroleum system in the giant Kavango Basin.
The results were indicative of a play with “world-class potential,” according to Horizon Well Logging Inc’s Dough Milham, who conducted the sample logging data and analysis for RECO.
The company’s first Namibia well is due to be spudded this quarter.
RECO is expected to publish its drilling schedule for H1 this year as soon as all permitting is approved by the government.
For RECO, we anticipate things moving pretty quickly now, with seismic interpretations expected to more precisely pinpoint exact drilling locations for what RECO hopes to be a major onshore oil discovery.
RECO has rights to almost as much acreage as Exxon, with 6.3 million acres located in Namibia’s Kavango Basin, which Wood MacKenzie has identified as an analogous basin to the Permian Basin in the United States.
There’s clear reason for our excitement here …
Dan Jarvie, one of the world’s most famous geochemichal guy. Stayhard