Record Resources Reaffirms 1B+ Barrel Gabon Upside as Loba Planning Advances

Record Resources (WLDOIL) reaffirmed major oil potential at its Ngulu Block offshore Gabon on June 5, citing the Loba discovery and over 1 billion barrels of prospective resources. This builds on the June 1 production-potential release showing the Batanga reservoir could deliver initial rates above 5,000 b/d and support multi-well development up to 20,000 b/d. Record remains fully carried through the first well, positioning the company for potential re-rating amid rising oil prices.