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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF | V.RECO.WT | RCNWF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest Botswana over the Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (km2) (6.3 million acres) of oil and/or gas exploration properties comprising Blocks 1719, 1720, 1721, 1819, 1820 and 1821 situated in the Kavango Basin of northeast Namibia (the Namibia Licensed Property) and approximately 7,592 km2 (1.88 million acres) in Botswana (the Botswana Licensed Property). The two licenses together comprise over 32,933 km2 (8 million acres).


TSXV:RECO - Post by User

Comment by mwddudeon Nov 24, 2024 1:32pm
45 Views
Post# 36328086

RE:RE:It a pump and dump !

RE:RE:It a pump and dump !
Patience my Friend,

The well they are drilling is a 'wildcat' exploration well. They are drilling into the unknown. A well like this takes a lot more time and money to drill.
Why? Formation pressures are unknown. They don't want to burn down the rig.
Chances are, that they have 'mudded up' (increased drilling fluid density) in order to continue drilling while holding back oil/gas from entering the fluid column (in other words, offsetting higher formation pressures).
Drilling with high mud weights (drilling fluid weight in lbs/gal or kg/m3) decreases rate-of-penetration.
They have to pick casing points based on drillings cuttings and LWD tool response, etc, etc..
There are other factors.
Taking a long time to drill this type of well is not necessarily a bad thing at all. It may mean they have a tiger by the tail....

Cheers


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