ReconAfrica begins drilling for oil along the west coast of Africa
The company hopes investors see the potential of the area as “the final frontier” in oil.
Imperium Group
ReconAfrica, a junior oil and gas exploration and development company, has begun drilling in the Kavango basin, located along the west coast of Africa. Owning 8.5 million acres within the region, the company has sole access to what one analyst predicts may generate up to 120 billion barrels of oil.
“Given the nature of this basin and the tremendous thickness, this is pretty much a no-brainer… it will be productive and I’m expecting high-quality oil,” said Dan Jarvie, a geochemist with Worldwide Geochemistry, LLC, in a press release.