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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.


TSXV:RECO - Post by User

Comment by werROBINHOODon Jan 24, 2021 9:21am
470 Views
Post# 32370418

RE:RE:RE:A Must Listen

RE:RE:RE:A Must Listen Not an oil expert but am an expert at research. From one oil contact in Calagary, a UofC drinking buddy, the majors would be horrified if RECO hit a gusher. They want those events for themselves. The sweet spot for them is to let the juniors prove up the geology and then they step in and use their expertise to decided where to drill to hit oil. If the company actually hit a resivoir accidentally, which has happened, while drilling for core then it becomes extremely expensive for them to come in so they no doubt are watching carefully and if they like what they see, they are the experts with the deep pockets and a high risk tolerance, they will swoop in and pressure a deal before the geology proves up too much and gets exponentially more expensive for them. Anyone else care to comment on what I was told this morning?
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