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A three-well drill campaign has just been launched by a small-cap explorer in a massive Permian basin that could end up being the next major conventional onshore oil discovery in the world. And everyone’s watching as many names in the oil industry and resource assessment gather around Reconnaissance Energy ( TSX-V: RECO ; OTC:RECAF ). It’s exciting for two reasons. First, there’s no more potentially lucrative risk-reward setup than a small-cap sitting on a high-risk exploration play. Plays like this that succeeded have netted some investors 1,000-4,000% gains in the past. And this play is in Africa, where we’ve seen it happen before: – Africa Oil netted well timed investors over 1,000% gains. – Tanganyaika Oil netted investors up to 4,000% gains. – Centurion Energy International netted investors over 1,200% gains. And those gains were for plays that might in the end pale in comparison to the potential of RECO’s 8.5-million-acre Kavango basin in Namibia and Botswana. RECO’s land package is far bigger and far more consequential, with well known geoscientists in the industry backing what they think could end up being 120 billion barrels of oil in place. The drilling has just begun and the first 6-2 exploration […]
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