Record Resources Expects to Complete Seismic Reprocessing and Resource Report by Year End

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Postmedia has not reviewed the content. by GlobeNewswire Record Resources Expects to Complete Seismic Reprocessing and Resource Report by Year EndAuthor of the article:CALGARY, Alberta, Sept. 30, 2026 (GLOBE NEWSWIRE) — Record Resources reports 3D seismic reprocessing and a resource report on its 20 percent-owned Ngulu oil block in Gabon to be completed by year-end.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountAs disclosed in Consortium Partner, Reconnaissance Energy Africa Ltd. (September 28, 2026 news release): “The 3D seismic reprocessing program is utilizing the most current state-of-the art reprocessing technology. The reprocessing project is expected to be completed before year end, concurrently a resource report will be commissioned and appraisal well locations to the Loba oil discovery will be selected. Well planning has commenced for an anticipated spud.”This advertisement has not loaded yet, but your article continues below.As reported by Reconnaissance Energy Africa Ltd., the 3D seismic reprocessing technology includes DUG’s Full Waveform Inversion (MP-FWI) to help illuminate oil bearing reservoirs within the Loba discovery and the vast salt related exploration inventory mapped by the previous operator on the concession.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againPrior to 1995, previous operators would only have been able to utilize 2D seismic for geophysical surveys. While 2D was a vast improvement over gravity and magnetic surveys, it was not nearly as effective at guiding and determining drilling locations as 3D seismic. From this point of view, the Ngulu Block remains relatively unexplored.The consortium is exploring the Ngulu block, which covers 1,214 Km2 and is equivalent to 54 Gulf of Mexico blocks, is in shallow water offshore central Gabon. This strategic block is located on trend to several sizable producing oil fields. The key aspects of the Ngulu Block include the Loba oil field discovery and over 28 seismically identified prospects in the Pre-salt Gamba / Dentale and Post-salt plays (See figure 1 below).This advertisement has not loaded yet, but your article continues below.Our marquee prospects on the block include Lepidote Deep (Post-salt play), the Palomite Complex including Deep (Pre-salt play) and shallow (Post Salt) prospects and the Pompano complex with both postsalt and subsalt prospects.The Loba discovery was made by Elf-Gabon’s LOM-1 well, which targeted the Batanga and Anguille reservoirs. The LOM-1 well discovered a shallow oil zone (27o API gravity oil) in the Batanga Formation with 140 metres of gross oil column (70 metres net pay) and is similar to nearby producing fields Barbier, Barbier Southwest and Ablette.The Loba oil discovery was made in 60 metres of water depth and is approximately 10 kilometres from the Barbier field existing infrastructure, operated by international oil company Perenco. Management believes that low-cost options are available for the development of the Loba Complex, which include the initial Loba oil discovery and follow-on appraisal targets at Loba Deep and Loba East.The Loba complex (See figure 2 below), has potential production of ~20,000 Bbl/d (1)(2)(3)(4) based on offset fields. Wells in analogous fields have shown Initial production rates (“IP rates”) up to 7,600 Bbl/d of oil with a single completion (1)(2)(3)(4). These analogous wells are located within 40 km from the Loba Oil Complex and are in the same targeted reservoir.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Grondin Field. AAPG Memoir Giant Oil and Gas Fields of the Decade: 1968-1978 / Geology of Grondin Field. Peak field production at Grondin ~25,000 bbl/d. Baudroie field, Nguma Moabi TCM report 17, May 2006. Initial production 1972. Total production reported at 42,000 bbl/d. IPs up to 7,600 BBls/d. Torpille field, operator Societe des Petroles d’Afrique Equatoriale Francaise (Total Energies), 1972 report. Total field production reported as 25,000 BBls/d. We are unable confirm if the reports were prepared by a qualified reserves evaluator or auditor or in accordance with the COGE handbook. About Record Resources:Record Resources is an E&P company advancing high impact oil and gas plays with large-in-place resources and scalability. The company is a carried partner in a newly formed consortium developing oil and gas projects in Central Gabon’s Ngulu Block, a mature yet under-explored hydrocarbon base. Record also holds an interest in natural hydrogen exploration assets in Ontario, Canada, offsetting recent discoveries.For more information please contact:This advertisement has not loaded yet, but your article continues below.Michael Judson, Chairman & CEO Record Resources Inc.Robert Kramberger, VP Capital MarketsRecord Resources Inc.rkramberger@recordresourcesinc.comT. +1 514-758-8080Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.Cautionary Note Regarding Forward-Looking Statements:This news release contains forward-looking statements and/or forward-looking information (collectively, “forward-looking statements”) that are based on Record Resources’ current expectations, estimates, forecasts and projections. The words “estimates”, “projects”, “expects”, “intends”, “believes”, “plans”, or their negatives or other comparable words and phrases are intended to identify forward-looking statements and include statements regarding management’s expectation anticipated production timeline, the 28 mapped prospects; management’s exploration and development plans; and all other expectations, intentions, and plans that are not historical fact.This advertisement has not loaded yet, but your article continues below.Forward‐looking statements are based on a number of material factors, expectations, or assumptions of Record Resources which have been used to develop such statements and information but which may prove to be incorrect. Although Record Resources believes that the expectations reflected in such forward‐looking statements are reasonable, undue reliance should not be placed on forward‐looking statements because Record Resources can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: that Record Resources will continue to conduct its operations in a manner consistent with past operations; the quality of the reservoirs in which Record Resources operates; the timely development of infrastructure in areas of new production; certain cost assumptions; continued availability of equity financing to fund Record Resources’ current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which Record Resources operates; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of Record Resources to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of Record Resources to obtain financing on acceptable terms; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of facility construction and expansion and the ability of Record Resources to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Record Resources operates; and the ability of Record Resources to successfully market its oil and natural gas products.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.The forward‐looking information included in this news release are not guarantees of future performance and should not be unduly relied upon. There can be no assurance that such statements will prove to be accurate, as the Company’s actual results and future events could differ materially from those anticipated in these forward-looking statements. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Record Resources. The forward-looking information contained in this release is made as of the date hereof and Record Resources undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.This advertisement has not loaded yet, but your article continues below.The forward‐looking information and statements contained in this news release speak only as of the date of this news release, and Record Resources does not assume any obligation to publicly update or revise any of the included forward‐looking statements or information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.Abbreviationsbbl barrels of oilbbl/d barrels of oil per dayMM millionsMMbbl millions of barrels of oilboe barrel of oil equivalentboepd barrel of oil equivalent per daybopd barrel of oil per dayMMboe million barrels of oil equivalentkm2 square kilometresA barrel of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.This advertisement has not loaded yet, but your article continues below.Analogous InformationCertain information in this document may constitute “analogous information” as defined in National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI-51-101 “), including but not limited to, information relating to the reservoirs in geographical proximity to lands that are held (or to be held) by Record Resources. Such information has been obtained from government sources, regulatory agencies or other industry participants. Record Resources believes the information is relevant as it helps to define the reservoir characteristics in which Record Resources may hold (or acquire) an interest. Record Resources is unable to confirm that the analogous information was prepared by a qualified reserves evaluator or auditor. Such information is not an estimate of the reserves or resources (or production levels) attributable to lands held or potentially to be held by Record Resources and there is no certainty that the reservoir data and economics information for the lands held or potentially to be held by Record Resources will be similar to the information presented herein. The reader is cautioned that the data relied upon by Record Resources may be in error and/or may not be analogous to such lands to be held by Record Resources.Photos accompanying this announcement are available atThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.