ReconAfrica - Kavango Basin, Namibia - 3 dry holes so far, 12 more wells to drill?!

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Күн бұрын

ReconAfrica's campaign onshore Namibia seems to have generated a lot of controversy. Our Africa correspondent Mark Jones takes a critical look at the Kavango Basin and the well results to date. There are many questions still to be answered and a lot of bemused shareholders it seems.
This subject has been the most requested TROVE News video topic in recent times.
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00:00 Introduction
00:36 Location & Licence Details
01:55 Kavango Basin Cross Section
02:50 Licence activity
04:30 Stratigraphy
05:18 Permian Palaeogeograhy - Source Rock
05:50 Play Groups
07:01 Kavango Basin Structure
08:19 Damara Fold Belt
09:25 Grav Mag
10:17 What we know so far
11:44 Well Results
12:45 Kawe 6-2 contractor reports
15:17 Resource Potential
15:43 Whats next?
16:42 Shareholder Lawsuit
17:03 Forward Programme

Пікірлер: 25

@DyerStraights1985 10 ай бұрын

Excellent summary - great to see an independent take on things, we very often only get the operator's press releases.

@TROVE-1stSubsurface 10 ай бұрын

Frontier exploration, such as that by ReconAfrica in Namibia, does require a lot of promotion to attract investors to such high-risk projects. We tend to step in when some of the statements by these companies are what we regard as 'over-hype'. These uber-optimistic claims stick in our craw and mislead investors - often understating the risk and exaggerating the prize. Again, some of this may be necessary, but when we talk to experienced colleagues in the industry who laugh heartily at some of the ridiculous claims made, we feel an independent view should be voiced. That's what our channel gives viewers.

@DyerStraights1985 9 ай бұрын

@@TROVE-1stSubsurface Keep up the good work!

@glenmorton1527 10 ай бұрын

Thanks for this video.

@TROVE-1stSubsurface 10 ай бұрын

Glad you found this helpful Glen. ATB, Mike

@ftdefiance 10 ай бұрын

Excellent, balanced overview of Recon's efforts and hydrocarbon potential of the area. Biggest issues IMO are: the presence & maturity of source rocks and whether traps are large enough to provide economic accumulations of hydrocarbons.

@TROVE-1stSubsurface 10 ай бұрын

I would add over-hype to the list of issues........

@TheMichaellee101 10 ай бұрын

I'm curious to why you would take viceroy is a potentially legitimate company, they've been known to bash stocks so that they can short them. Also RA Africa is stated before that they found oil&gas at 6-1 and 6-2 also found gas at 8-2 but no signs of hydrocarbons at 8-2. Can I ask what your experience / background is in oil.

@TROVE-1stSubsurface 10 ай бұрын

This isn't a share chat site - we are all on LinkedIn if you want details of experience. The majority of us have worked our entire careers in oil & gas exploration and production.

@craigforest7970 10 ай бұрын

Interesting…until Viceroy (Professional stock shorters) was introduced as source material for petroleum analytics.

@TROVE-1stSubsurface 10 ай бұрын

NSAI are an established reserves auditor and have authored a CPR. We haven't had any dealings with Viceroy but they seem to align with NSAI in their evaluation - so we should not dismiss their opinion. I see no problem.

@billyg7798 4 ай бұрын

@@TROVE-1stSubsurface en.wikipedia.org/wiki/Viceroy_Research#:~:text=In%202021%2C%20the%20U.S.%20Securities,pay%20a%20%241%20million%20fine

@evanbrown2594 10 ай бұрын

That C4....ouch..

@TROVE-1stSubsurface 10 ай бұрын

Hi Evan, For those who are not technical, C4 refers to butane - there are two different types ("isomers") called 'normal' or 'iso'. It's not important to understand the difference - but if you have good quality oil you would generally expect to see C4 (butane). When it is not seen, it is taken to suggest the oil found may be lifeless, residual or very unlikely to be producible. So it is good to see C4 reported, worrying when it is not........... Hope this helps non-techs. Thanks again Evan.

@evanbrown2594 10 ай бұрын

@@TROVE-1stSubsurface I am a Petroleum Geologist. Wondering why they have not released any Rock Eval yet? Or Have they?

@Andrewskji 10 ай бұрын

Thank you for this excellent analysis

@TROVE-1stSubsurface 10 ай бұрын

Glad you enjoyed it!

@arvidsfar1580 10 ай бұрын

Good summary. Unfortunately, common knowledge about the importance of organic geochemistry in exploration is quite limited. The Ecca being Permian and siliciclastic should allow to get some decent maturity data, Ro included.

@TROVE-1stSubsurface 10 ай бұрын

We haven't found any data in the public domain but we aware some exists and there are seeps/tar balls? apparently. Others may wish to add to this discussion. (Monitor?)

@user-gl8qg2zq5m 10 ай бұрын

With this video and the previous videos on your channel about Invictus Energy - are you down on wildcat exploration. Companies have so many hurdles to get over to get to drilling. Are your criticisms fair?

@TROVE-1stSubsurface 10 ай бұрын

We are down on hype, not frontier exploration. If you look at our channel you will see other examples of wildcat exploration we have covered. I appreciate the hurdles getting to drilling - having tried and failed myself on previous occasions. When wild claims are made, which defy reason and are quite frankly 'nuts', our attention is drawn to these claims and we comment on our channel. It is, as always, for our viewers to comment if our criticisms are fair. We try and present facts. In general, professionals O&G geoscientists tell us we make reasonable assessments. Everyone is free to comment on our videos. For some reason your comment went into "review" - hence the tardy response - but we have published as it is a perfectly valid comment.