Record Resources Fast-Tracks Loba Appraisal With Legacy 3D Seismic Reprocessing in Gabon

Record Resources ( (TSE:REC) ) just unveiled an update.

Record Resources has secured legacy 3D seismic and well datasets for Gabon’s Ngulu block from the country’s petroleum authorities and has begun a major reprocessing program, allowing it to accelerate appraisal of the Loba oil discovery without commissioning new, costly seismic surveys. By leveraging advanced imaging technology from DUG Technology, the company aims to refine drilling locations on Loba and remap more than two dozen identified prospects, positioning the Ngulu block as a large-scale, shallow-water growth platform with near-term production potential and significant exploration upside.

The reprocessed data are expected to support selection of an appraisal or development well location on Loba in the second half of 2026 and feed into an independent resource assessment covering contingent resources at Loba and prospective resources across marquee plays such as Lepidote Deep, the Palomite complex, and the Pompano complex. With the discovery located close to existing infrastructure and analog fields suggesting meaningful output, management sees low-cost development options that could enhance Record Resources’ operational profile in West Africa and strengthen its competitiveness among offshore independents.

More about Record Resources

Record Resources Inc. is a Calgary-based oil and gas company focused on offshore exploration and development, with current activity centered on the shallow-water Ngulu block offshore Gabon. The company is advancing the Loba oil discovery and a portfolio of pre-salt and post-salt prospects, targeting cost-efficient development near existing regional infrastructure.

Average Trading Volume: 214,220

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$9.85M

Learn more about REC stock on TipRanks’ Stock Analysis page.