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Bullboard - Stock Discussion Forum 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... see more

TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > The idiots running Mexico are stupid
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Post by farml1234 on Aug 27, 2021 11:04am

The idiots running Mexico are stupid

Latest on Pemex Platform Disaster

 
The Pemex platform that burned apparently was a critical component to the field production, in that it was the primary support that provided a supply of NG being injected into the field. When the platform burned, production stopped - idling over 700 mbbls/d.
 
Pemex had a fix, which was implemented and is allowing an immediate, at least partial resumption of production. Pemex is now injecting nitrogen into the wells in lieu of NG. It is allowing production to resume, but is likely causing major permanent damage and a long term reduction to EUR's.
 
As Bloomberg puts it in an article published today:
 
 The problem with the short-term fix is that nitrogen also disperses oil inside the reservoirs into several pockets, making exploration not only more difficult but also more expensive in the long term, one person said. Natural gas is usually used instead to create enough pressure to allow oil to flow out of wells.
 
It looks like Pemex decided to keep production going now come hell or high water, and deal with the fallout later. This will not help Mexico meet their production targets in 2022 and forward.
 
 
Comment by Bpultra on Aug 27, 2021 11:24am
yes seems that way.... this is why I was wondering if there will be any value to roe's mexico stuff and does recon have the rights to that due to the take over... or is mexico dead as far as recon is considered ===========
Comment by CammerRec on Aug 27, 2021 12:46pm
Interesting Mexican report bpultra.  There just was an article how they are vastly building up their oil industry - especially refiners - and not going the way of "renewables"; which I think is a pretty smart move. 
Comment by grenouille on Aug 27, 2021 1:19pm
no,  they're not being stupid.  they're being politicians. the first priority for a politician is getting elected. the second priority for a politician is getting re-elected. anything else is a distant third.  politicians will sell your grandmother to be ground into hamburger if they think it will help them get re-elected. the long term destruction of mexico's oil ...more  
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