Reconnaissance Energy (Africa) Ltd V.RECO

If the Saudi’s won’t / can’t Africa will !

[pacer001]

Today energy stocks are up / surging because the Saudi's claim they can't produce more than 13 mbd even though it has been said they can go to 15 mbd with their off shore fields and more investment.

The Russians are probably pushing them not to build capacity or it is just too expensive since "oil is obsolite" (hah, hah). Whatever, this is good news for Africa, Namibia, and Recaf because we all will be able soon!

[geomanx02]

Pacer....you need to consider "depletion" when discussing Saudi oil production.  The Saudi legacy oil fields are in a major depletion stage as is the case around the world. New discoveries are barely offsetting the depletion and that is why the Saudi's cannot increase production.  Their days of using their excess production as a geopolitical weapon are over.....

[pacer001]

Depletion? That is a good point. For too long folks have thought about their oil as being limitless. It only makes some sense that it will run down at some point. After all that is what has happened in Alaska; after 50 years they are now only getting 20% of their peak production. A few years ago I had a friend who worked on rigs for Hornbeck the now bankrupt but former off shore drillers. The