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Reconnaissance Energy Africa Ltd. (RECAF)

Other OTC - Other OTC Delayed Price. Currency in USD
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5.08+0.08 (+1.60%)
At close: 3:59PM EDT
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  • G
    Greg
    $XOM conversation
    $RECAF As an investor in XOM and Recon Africa I am very excited to see that they will both be attending the Africa E&P Summit in London from 9/22-9/23. With Guyana wanting higher royalties, it is the perfect time for XOM to explore some political diversification in Namibia. Exxon is already exploring offshore Namibia and Recon Africa, after drilling two strat wells, has recently discovered a working onshore petroleum system in the Kavango basin and is in the final stages of 2D seismic. The third well may target a trap based on seismic. I also see synergies for Exxon in the area of infrastructure that it could leverage with a partnership.
  • M
    Michael
    What do people see as the next trigger for this stock then? The Goldmans interview has been and gone and no real impact on the SP, conferences are underway this week, some of the data from drilling (2nd well I think) has still not been released, 2d seismic in progress, Talk of potential uplisting exchanges, interested JV partners. The stock was riding high at almost CAD 16 a month or so ago but has just steadily drifted back down to lower levels since. Just wondering what people think will be the next catalyst for a big jump up in the SP?
  • P
    Philippe
    Last week ConocoPhillips bought Permian Assets from Shell for 9.5 billion USD.
    The transaction is about the rights of 222.400 acres in the Permian Basin,
    producing 175,000 barrels per day.

    That means a price per acre of 42,700 usd, for shale oil which is UNconventional.
    Our Kanvango has 35 times more acres and has conventional oil.

    ...Fingers crossed...
  • R
    Rob Rob
    The oil business is going to become like the tobacco business only 1 million times larger. Harvesting and processing this naturally occurring organic product will be taboo in the "woke" countries and with the greens. Meanwhile they will fly in their jets, be driven about in their oil manufactured and powered electric cars all the while allowing those of us with a brain to profit from the exploration, harvest and processing of fossil fuels.
  • T
    Trip
    An interesting trading day. Recaf is being kept almost even for the next pump push. A five dollar floor with a potential twenty dollar cap before the 3rd well is completed.
  • T
    Tom
    It appears to me that recent support is around 4.30-4.50. Seems fair given all the evidence. Any more de-risking and should rise accordingly. As a reasonably large shareholder at 3.40 I can live with current range. But it is a most interesting story and will let it play out. I know there is no gusher and world growth may be slowing but if RA hits there are plenty of companies throwing money at them (us).
  • m
    meowchicha
    Good Morning Namibia! So much cooking at the ReconAfrica location. Got extra seismic, working on water wells for the locals, working on oil wells for the investors, potential partners looking around, uplisting to a major stock exchange, rail, pipelines, ocean going tankers, gas to electricity, and potentially shipping oil to market in 2022.

    Interesting that extra seismic and the rumored rise in sp targets. What are they looking at? Did they find something?

    BIG things happening very quickly now.
  • M
    Michael
    When do people think they'll likely release some more data on the 6-1 well? I'm pretty sure we've only had minimal data released on that well to date, so presumably there will be more technical analysis and detail to come at some point soon?

    Also, how are people feeling generally in terms of their positivity around this stock right now? We've seen the SP range between circa CAD 2 and CAD 14 over the past several months, it now seems to have settled around CAD 6ish, most of the new releases and announcements seem to have generally been on the positive side too. So I was just interested to know how fellow longs are feeling on this stock right now
  • R
    Rdj
    The floor is there for a reason folks.
  • G
    Greg
    $RDS-A conversation
    $RECAF Shell is attending the Africa E&P Summit that is taking place from 9/22-9/23. Those in attendance include other majors including Exxon, BP, CNOOC and a host of others. Most of these are onshore, but Recon Africa is the only onshore company and it is exploring the Kavango Basisn in northeast Namibia and northwest Botswana. This might be the last major onshore basin on earth.
  • J
    JR
    Big papu, Lenin, Ma and Duane are all the same person. He admitted it on here in Sep2, then the posting was deleted.
  • M
    Michael
    I saw earlier on a reddit post that apparently Haywoods have issued another update with a price target which is now $5 higher, so presumably it's at circa CAD 21 now as the target price. Has anyone seen or got any links to the Haywoods reports as Reco don't publish them anymore on their website?
  • G
    Greg
    Something that people may have missed in Granath's presentation was that Recon Africa will be combining ESG with exploration. This is brilliant. Namibia has a big problem with fires, and creating firebreaks and then running seismic along those lines is huge. "Word about the seismic acquisition, we're employing modern techniques that sort of resuscitate the old weight drop kind of seismic system, Polaris has an impelled weight drop system. And we are using that with the modern strike cableless receivers. Again, 450
    kilometers are permitted. But more is going to be done. I think there's a plan and it's in the process of
    being permitted. And they've asked us actually to cut some fire breaks that they've given us permission
    to shoot seismic data along."
  • J
    John
    Just read through the program for the Africa E&P conference being held this week, no new news from what was said about Recon. It sure had all the buzzwords and bs mentioned in the various presentations to be done.
  • V
    VotingDem SurgesCrime
    I believe that RECAF execs believe that when fully mapped they will have many commercially productive reservoirs and traps.

    I am curious as to how they play their cards because, there is a strategy that says in order to maximize your total oil extraction in the 25yr lease period, you should postpone the official declaration of commercial oil discovery until you have maximized the oil infrastructure plans & partner deals so that once you declare the oil is there you & partners can immediately begin developing & moving as much oil as possible.

    If they choose this strategy then we should look for more signs of oil infrastructure like the railroad shipping deal, or refinery or pipeline talk, or JV partner discussions, etc..

    Simply lining up these things ahead of time could pay dividends in the Billions over the long term due to more efficiently & quickly developing the basins.
  • W
    Westrac
    Shell just divested from the Permian for $9.5 Billion? Maybe they will start fresh with Reconnaissance Africa. How can RECO appeal to those shareholders at Shell that will be getting a nice $7 Billion payout.
  • M
    MrP
    @Aristwattle/Pappy K. Looks like an excellent buying opportunity today. Limits are in and looking for 2 full hands. Hopefully volume is heavy.

    Good luck guys and to all longs picking up shares today!
  • R
    Rawhide
    Key Takeaways From Goldman Call

    *one small company owns rights to one of the largest onshore undeveloped hydrocarbon
    basins in the world
    *proven active conventional petroleum system exceeding initial expectations
    *primarily oil with associated gas
    *strong financial position
    *good relationship with Namibia and Botswana governments, unprecedented strong social and
    environmental commitments to local area, local hiring and training
    *gas to local power plant electricity production
    *looking into transportation infrastructure, possible refining
    *could be producing by year end 2022
    *De-risking continues
    *Seismic 50% complete, VSP complete, already working with seismic data uploaded to cloud
    *Actively working on uplisting to major exchange

    Nothing dramatically new for those who have been following this company for awhile. This presentation was to familiarize a new group of investors with Recon - institutional and high wealth investors.
  • R
    Rawhide
    So since someone had Ryan1's important post removed, I'll resummarize for everyone's information:

    Another poster on another site, while in contact with Recon investor relations was informed that Recon has narrowed their current seismic zones down to 2 target areas that they are doing further seismic on. One area is in the permitted drilling zone, and the other will require a permit to drill that will take 3-4 weeks to obtain. One of these 2 areas is where the next oil(!) well will be spud in December.

    Right now the drill is disassembled waiting to be moved to its next location. The drilling crew is at currently at home with their families waiting until they operations begin on the 3rd well.

    I'm not sure why this information hasn't been made public but anyone can send IR an email with questions about operations. This company is shareholder friendly and tries to get back to investors.
  • d
    dad
    Traps.........Scot Evans states, "The seismic data currently being acquired will determine hydrocarbon traps, size, and geometry (full closure around a reservoir) which will consolidate all the data to identify potential commercial fields for the next round of exploration drilling."