Press ReleaseHere's my take on the press release...when you get past all the jargon - "whaleback anticlines", "seismic stratigraphic sequence" etc - the bottom line is this:
Recon's original play, the Karoo Rift Basin, proven up by their original wells which were touted by Recon as highly successful, is a BUST. The 5-1 well, which was the greatest location ever, will not be drilled. This should be the death of Recon - BUT WAIT - there's another play - the Damara fold belt! Now that play is phenomenal, it is just like the Zagros field! (Remember when the Karoo Rift Basin was just like the Zagros field?)
I still believe it's way to early to say there will never be commercial oil in onshore Namibia, but I have to agree by now that this is a shameless pump and dump...sorry to all you longs, you've been duped.