July 13, 2021 – This morning on Africa Good Morning geologist and environmental expert Jan Arkert gave his view on ReconAfrica validating Viceroy Research’s views on the matter of ReconAfrica’s geology.
For the avoidance of any doubt, Viceroy have never retained the services of Mr. Arkert, nor have we ever had any dialogue with Mr. Arkert. The video is available at the link below.
In the interview Arkert states:
- ReconAfrica’s plan since inception was based on fracking tight shales in the Kavango basin. Their recent backpedalling to reclassify this as a conventional oil play is purely cosmetic.
- The company’s promotion of a working hydrocarbon system is wishful thinking designed to maintain hype around the stock and “not based on any scientific principle whatsoever”.
- ReconAfrica’s exploration method is a marked deviation from established exploration principles by drilling wildcat holes without seismic data and based on a model rife with assumptions. Mr. Arkert also referred to gravity data showing ReconAfrica drilling an area with “very limited potential”.
Mr. Arkert challenged ReconAfrica CEO Scott Evans to a public debate chaired by an independent Namibian organization. Viceroy fully support this debate to clarify the ongoing issues we have found with ReconAfrica and its operations.
Further, Mr Arkert’s interview substantially agrees with data presented to Good Morning Africa on 12 July 2021, in an interview with Viceroy Research’s Gabriel Bernarde:
July 19, 2021 – Another expert geologist has come forward with serious concerns about ReconAfrica’s operations. Matt Totten Jnr. appeared on Africa Good Morning on July 16, 2021 to share his concerns with the company’s reckless and unorthodox conduct. Totten has significant experience with unconventional reservoirs and previously worked with BP as an exploration and operations geologist.
The video is available at the link below:
In the interview Mr. Totten reiterated several points made by Mr. Arkert as well as further issues about the comapny’;s conduct stating:
- ReconAfrica’s have presented no verifiable information to back up the geological model underpinning the venture.
- That the company has no reason to withhold important information such as well depth from investors because it owns the entirety of the lease position.
- Reiterated that ReconAfrica have promoted the play as an unconventional shale play requiring “thousands and thousands” of wells to produce resulting in far-reaching and permanent environmental issues. The company has not categorically ruled out fracking, even though it is forbidden under Namibian law.
Mr. Totten is part of a growing number of expert voices both in Namibia and overseas who are concerned about, and opposed to, ReconAfrica’s conduct. Such widespread condemnation amongst independent experts both regarding the company’s conduct and its consequences further reinforces Viceroy’s view that the company is operating against established norms and promoting their operations without substance.