Depth extended beyond original TD due to indications of hydrocarbons while drillingExtensive wireline logging planned CALGARY, Alberta, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) is pleased to provide a drilling update on the Kavango West 1X exploration well. Brian Reinsborough, President & CEO, commented “I want to thank everyone who is working on the Kavango West 1X exploration well. The well ...

Core Insights - 3D Energi has provided updates on the drilling progress at the Essington-1 gas exploration well in the Otway Basin, Victoria, which is part of the VIC/P79 exploration permit located approximately 55km offshore from Port Campbell [1][3] Drilling Progress - The Essington-1 well has reached a measured depth of 1,736m below rotary table (MDRT) and a true vertical depth subsea (TVDSS) of 1,704m after nine days of drilling [1] - The current hole size is 12¼ inches in the intermediate section, and preparations are underway to install 9⅝ inch casing [2] - The next phase involves drilling an 8½ inch hole through the reservoir section to reach a planned total depth of around 2,650m TVDSS, with an expected duration of approximately 32 days to complete this phase [2] Project Ownership - 3D Energi holds a 20% equity interest in the Essington-1 project, while ConocoPhillips Australia owns 51% and Korea National Oil Company holds the remaining 29% [3] Exploration Objectives - The drilling is part of the Otway exploration drilling program aimed at identifying natural gas reserves for the East Coast market [4] - The Essington-1 well targets a combined mean prospective gas resource of 262 billion cubic feet (bcf) in the Waarre C and Waarre A reservoirs [4] - The Waarre C reservoir, located at a depth of approximately 2,240m TVDSS, is estimated to contain 76 bcf of resources with a 76% chance of success [4] - The primary target, Waarre A, lies at around 2,470m TVDSS, with estimated resources of 186 bcf and a 68% chance of success [5]

Market Trends - The Santa Claus Rally is anticipated as a familiar market trend, historically resulting in stock increases 80% of the time during this period since 1972 [1] - This year's rally is expected to be accompanied by volatility due to factors such as AI speculation, a weakening labor market, and record-low consumer sentiment [2] Labor Market and Layoffs - October saw over 150,000 layoffs, the highest figure in 20 years, impacting companies including Amazon, which laid off 14,000 corporate employees [2] Stock Market Performance - The tech-heavy Nasdaq Index fell 5% recently, indicating cracks in the bull market, with Amazon shares dropping 6% [3] Investment Opportunities - Utz Brands Inc. (UTZ) is highlighted as an attractive investment, trading at 13 times forward earnings, significantly lower than its long-term average, with a profit outlook of 5% growth this year and 15% next year [12] - Greenwich LifeSciences Inc. (GLSI) is noted for its potential in cancer immunotherapy, with recent insider buying and FDA Fast Track designation, despite a 33% decline in shares due to short selling [15][19] - Matador Resources Co. (MTDR) is recognized for its strong insider buying activity and attractive cost structure, trading at a low valuation compared to peers, with a 4% dividend yield [22][25][26] Insider Buying as a Bullish Signal - Insider buying is considered a strong bullish signal, with examples of significant gains following such activity in companies like Longeveron Inc. and Nuvation Bio Inc. [14][27] Upcoming Events - A Profit Surge Event is scheduled, where insights on market volatility and trading opportunities will be shared [7][28]

Core Insights - Angkor Resources Corp. has confirmed the discovery of a third anticlinal dome structure, North Bokor, within Block VIII, enhancing its potential drilling targets for oil and gas [1][2][6]. Group 1: Discovery and Implications - The identification of the North Bokor structure adds to previously identified closed anticline structures in South Bokor and Central Bokor, indicating a positive outlook for future drilling [2][6]. - The North Bokor structure is located at a shallower depth of 150-200 milliseconds two-way time (TWT), approximately 300-400 meters below the valley floor, which may facilitate easier drilling [3][8]. - Although the North Bokor seismic does not confirm a closed structure, management is optimistic about its potential based on surrounding geological features [6][8]. Group 2: Exploration and Development - EnerCam Resources, a subsidiary of Angkor, is actively advancing oil and gas exploration in Cambodia, aiming to establish the country as an oil and gas producer [12]. - The company holds an onshore oil and gas license covering over 4,095 square kilometers in Block VIII, which has been expanded by removing parks and protected areas [12]. - Angkor's Canadian subsidiary has been involved in oil and gas production in Saskatchewan and is also engaged in carbon capture initiatives, reflecting a commitment to environmental sustainability [13].

Core Insights - TAG Oil Ltd. announced the results of an independent assessment of volumetric estimates for the Abu Roash "F" formation in the Southeast Ras Qattara concession, indicating significant potential for unconventional oil development [1][4][6] Group 1: Volumetric Estimates - The oil-initially-in-place (OIIP) estimates for the ARF formation are 3.2 billion barrels, covering an area of approximately 250 km² in the SERQ Concession [7] - The estimates are based on seismic and well control data from over 20 penetrations, with petrophysical analysis revealing porosity values between 5-10% and consistent thickness of 35-45 meters [7] - Maturity analysis suggests the ARF formation is in the early to mid-mature oil window, favorable for hydrocarbon generation [7] Group 2: Development Plans - TAG Oil has received approval for a petroleum services agreement to develop the ARF formation, allowing access to additional seismic and geological data [2] - The company plans to conduct detailed geochemical and geo-mechanical studies to validate volumetric estimates and assess production potential [2] - Future steps will focus on validating estimates through improved seismic interpretation and production testing to determine economic viability [4] Group 3: Technical Insights - Reservoir characteristics of the ARF formation are similar to those in the productive Badr Oil Field, although there is no certainty that results will be identical due to potential differences in reservoir quality and completion techniques [7] - Planned production tests and geological studies will help optimize well design and hydraulic fracture stimulation for effective resource recovery [7]

Core Viewpoint - CGX Energy Inc. has secured a US$2.5 million Senior Secured Loan Facility from Frontera Energy Corporation to finance its operational costs related to the Corentyne block offshore Guyana [1]. Group 1: Loan Details - The loan will be available for drawdown in tranches over a six-month period, with a maximum drawdown of US$1.9 million per tranche and a total cap of US$2.5 million [2]. - The loan is due one year after the date of issuance, with an interest rate of 19.32% per annum, compounded monthly [2]. Group 2: Regulatory and Compliance Aspects - The loan is subject to customary conditions, including obtaining regulatory approvals [3]. - The transaction is classified as a related party transaction but is exempt from formal valuation and minority shareholder approval requirements [3]. Group 3: Company Overview - CGX Energy Inc. is focused on oil exploration in the Guyana-Suriname Basin and is also developing a deep-water port in Berbice, Guyana [4].

Core Viewpoint - Chevron will explore for oil and gas offshore Guinea-Bissau in two blocks within the MSGBC basin [1] Company Summary - Chevron is expanding its exploration activities by targeting offshore oil and gas resources in Guinea-Bissau [1] Industry Summary - The MSGBC basin is becoming a focal point for oil and gas exploration, indicating potential growth in the region's energy sector [1]

Core Insights - Angola's national oil and gas agency, ANPG, is set to sign an exclusive negotiation agreement with Shell for the exploration and development of specific oil blocks [1] Group 1: Agreement Details - The agreement will cover Blocks 19, 34, and 35, as well as ultra-deep water blocks [1]

Group 1: Automation Trends - Automation is reshaping offices and factories, changing the nature of work across various sectors [1] - Robotic process automation (RPA) is evolving into intelligent automation, which combines AI with RPA to automate complex business processes [2] - GlobalData's Future of Work report highlights automation as a key segment in the evolution of the workplace, indicating its significant role in reshaping industries [3] Group 2: Industry-Specific Insights - The Future of Work in Power report emphasizes that automation technologies are critical investments for all industry segments, improving productivity and efficiency [4] - In the power sector, autonomous robots and drones are expected to manage complex and hazardous operations, such as servicing wind farms [4] - The oil and gas sector also benefits from automation, which enhances health and safety by mitigating risks in hazardous environments [4]

India needs more local discoveries of oil and gas in order to be able to meet future energy demand, the secretary of petroleum and natural gas at the Indian energy ministry said. “One day, we will be looking at a situation where alternative forms of energy will increasingly matter more for incremental demand satisfaction than fossil fuels,” Pankaj Jain said, as quoted by PTI. In the immediate term, however, India needs to boost its self-reliance in energy by making new oil and gas discoveries, leveraging ...