5 Things You Need To Know About The World’s Hottest Oil Play
The game is afoot with 2D seismic and a 6-well exploration drilling campaign. This is with evidence of an active petroleum system now confirmed after two test wells in Namibia’s 6.3-million-acre Kavango Basin. That hopes to put this final frontier nation definitively on the commercial oil map.
Recon Africa (TSXV:RECO, OTC:RECAF), the junior explorer behind the new play, and its JV partner NAMCOR, Namibia’s state oil company, think they might have drilled into a reservoir in their first test well, and they are very excited about what comes next.
So, let’s drill down here to better understand exactly where we stand with exploration in the Kavango Basin. Learn why many of us are so excited about it.
Here are 5 key details that are very important to understand:
#1 Exactly what did Recon Africa find in its first two test wells?
Key Takeaway: They’ve found light oil showings and evidence of an active petroleum system, helping to de-risk the 8.5-million-acre position in the Kavango Basin. The company’s expectations are that much more is to come, and now full-blown exploration begins.
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Source: Oil Price
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