Reconnaissance Energy (Africa) Ltd V.RECO

Post From Discord

[doggiestyle]

On Feb 3 2021 RECO traded at  $4.76 - this was BEFORE the first well was even drilled!!! We have been around these levels for much of today. The market is giving $0 value to drilling 2 succesfull strat. wells, finding oil, gaining a solid understanding of the geography including proving good permability, porosity though top zones and  a fractured carbonate zone, reporting shows in 5 zones, proving out working petroleum system with required seals and migration, completing a seismic program that will provide the data on where to drill the next 4 to 6 exploration wells.   SEEMS TO ME LIKE ALL OF THIS IS WORTH MORE THAN $4.80 - 5 cents of VALUE FOR ALL THIS WORK?

 

 

 

[RawSienna]

Funny isn't it, most of the world runs on it but everyone wants to hate on it. Our turn will come soon.

[CammerRec]

Great point. I agree!

[CammerRec]

I don't think investors understand all this technical information. They like me are bottom line folks: have we found oil? How much? The quality? In short is it bankable or not?  Look at Exxon and what they put out on Guyana: number of wells (dozens!) that are gushing good quality oil at an average cost per barrel, etc. etc. In short, concise, precise bottom line info.  

[Kyle61452]

They won't disclose specifics on oil quality or volumes until they have proper testing. The first two wells were not drilled with intent for understanding reservoir characteristics. Stratigraphic wells are only used to identify subsurface stratigraphy to locate areas that have the highest chance of having traps. Along they way they took core samples from the stratigraphic wells to identify the