Recaf Potential SuccessDo not have a lot of confidence in the Recaf management team....almost like the Abbott and Costello comedic rountine..."Who's on First?"
The initial 30,000' untested basin concept was totall baloney from the beginning, majors would have never left a 30,000' basin untested. And shooting seismic after drilling dry holes should become another comedic rountine in it's self.
With that being said, the fold belt does have some merit however limited. Recaf has yet to define the presence of a reservoir that could contian commerical hydrocrbon reserves. Not ceratin they have identified a source rock. The original story is...you gotta has a trapping mechanism....you gotta have a reservoir.....and you gotta have a source rock.
Recaf has not demonstrated the presence of the three ingredients required!!! Structure alone doesn't hack it!!
However, many years ago...... out in the west Texas town of Pecos...... all of the oil drillers believed there was no oil west of the Pecos River....until one day someone who didn't know that "fact" went and drilled a well west of the Pecos, discovering the 1 Billion B0 Yates Oil Field.
Can never say "never" in the oil patch...
Currently don't have any money in this game.......although I did at one time....