Reconnaissance Energy Africa Ltd (RECAF)

[enon]

I think you misunderstood what the government said. There is no fracking permit currently, this does not preclude it sometime in the future after the exploration drilling shows there is frackable oil. It will then have to go through the approval process for any oil development.

How much would the company be worth if it was just unconventional, who knows? It really depends how much oil there is there. The suggestion is conventional = unconventional. The recoverable from unconventional can be anywhere from 20% - 80% whereas unconventional is about 6-8%. Unconventional costs a mere fraction to produce than unconventional. Conventional is a just a bit harder to find as it will be in traps at various depths.

Long story short, if you though it was worth $X for Y-BOE of just unconventional but now realize it is just Y-BOE of conventional, probably 5-10 times $X.