No oil discovery narrative appears to have captured investor attention this year. The Reconnaissance Africa’s (TSXV:RECO, OTC:RECAF) acquisition of the rights to Namibia’s giant, 6.3-million-acre Kavango Basin. Following it with a short order by two confirmations of an active petroleum system.
It keeps on capturing our attention for several reasons. Not the least of which is that onshore discoveries are pretty much a thing of the past. This is except in the final frontier of Africa. Nambia has never produced a barrel in its history. Now, they are anxiously awaiting the possibility of its day in the energy spotlight.
It’s also capturing our attention because this is a junior explorer. It is sitting on what we think is a supermajor-size basin. Lastly it’s fully funded for its current 3-test well drill campaign.
But in recent weeks, our attention has been drawn by reports of surprise early results—twice. And now, there is a lot to potentially look forward to in the coming days and weeks.
On Monday last week, ReconAfrica announced that it had completed its second drill at its 6-1 stratigraphic test well. In a matter of days, we are expecting the results from that drill.
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Source: Oil Price
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