ReconAfrica is exploring an onshore petroleum basin in nearby Namibia, and is drilling right now in the same petroleum system as IVZ’s project (Karoo - Permian).
The company (Recon) is hoping to establish the presence of a good quality source rock which in turn would open the basin to unconventional and potentially conventional exploration. It would also hint to the potential in analogous frontier basins in South Africa, Namibia, Angola, Zambia, Botswana and Zimbabwe.
Ultimately ReconAfrica's three-well campaign should shed light on Permian aged source rocks
IVZ Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
