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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Reconnaissance Energy (Africa) Ltd > Look at the big picture

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Comment by stiffupperlipon Apr 13, 2021 3:47pm

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Post# 32986913

RE:RE:RE:RE:RE:RE:RE:RE:RE:Look at the big picture

Looks like the first 2 wells will be drilled off an aeromag survey. Is that a responsible use of shareholder capital? Aeromags are used to highgrade areas for a 2 D to be placed. You need a 'structure' - otherwise called a prospect first. This is a drilling blind operaton and no wonder the first well was dry and so will the second. A $ 3+ stock is an expensive stock and all the company has is liablity to pay for. Stiff can't figure this one out.

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