Record Resources Inc (TSX-V:REC) announced that further geological and geophysical analysis of its Loba oil discovery in Gabon and nearby analogue fields suggests an initial production rate of more than 5,000 barrels of oil per day could be achievable from its planned first well. The Calgary-based exploration and production company said its planned Loba Marine 2 well is expected to produce above 5,000 barrels per day if completed with a frac-pack system and an electric submersible pump (ESP).