The last great oil discovery onshore could unfold in the next few weeks, and it’s been hiding right under the noses of the supermajors. It’s all because of a treasure trove of government-held data that very few even knew existed. And it could lead to the most exciting oil discovery since the Permian Basin, the massive basin in Texas which is estimated to hold 46.3 billion barrels. But today, this property overlooked by the majors lies untouched halfway around the world.
And at a mammoth 8.5 million acres, this basin spans an area even greater than many of the richest discoveries in the Lone Star state. But now, one junior oil company most folks have never heard of has acquired the rights to the entire thing.
That company is Reconnaissance Energy Africa. This is truly the final frontier of oil exploration, among the last Permian-sized basins that’s never been drilled. And it’s opportunities just like these that have produced incredible gains in recent years for other explorers that made a discovery.
Valeura Energy Corp’s shares skyrocketed for 1,000% gains after a discovery in Turkey.
Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.