Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s): RECAF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the opening of Kavango Sedimentary Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. It holds 90% interest in a petroleum exploration license in northeast Namibia and a 100% interest in petroleum exploration rights in northwest Botswana over the entire Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (6.3 million acres) and 8,990 km2 (2.2 million acres) in Botswana. The two licenses together comprise 34,325 sq km (8.5 million acres). Its conventional drilling program is focused on analyzing the rocks to determine if there is a working petroleum system in the Kavango Basin.

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Comment by Elephantson Dec 12, 2020 2:03pm

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Post# 32093685

RE:RE:RE:RE:RE:Down

Letsmake1 wrote: Can a company have a plan to drill 3 holes and then release news or if they hit or miss on the 1st hole are they obligated to release that info to it's shareholders?

Commented before that hasn't changed. Short answer is yes as these are not oil wells but information wells. This is how you open a prospect the right way. That being said if they go through 6000m of source rock well, that'll be pretty impossible to sit on for long.

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