By now, those of you who read about my top New Year’s stock pick, Recon Africa, will have learned that this small-cap explorer may have just moved one giant step forward in Namibia’s Kavango Basin.
Beyond my wildest imagination, this small-cap explorer set out to drill three wells to prove up the existence of indicators of petroleum systems in Namibia.
They may have proved it in the first drill.
Some results are just in and this play may have just been hugely de-risked.
But it looks like they did much more than that. They encountered oil and gas indicators, too.
If you scooped up shares in Reconnaissance Energy Africa (“Recon Africa”) (TSXV:RECO, OTC:RECAF) when I first recommended it, I’m sure you’ve been watching its remarkable rise with great interest.
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Source: Oil Price