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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 InvrsContrarianon Apr 20, 2021 3:58am
353 Views
Post# 33027352

RE:RE:RE:RE:RE:congrats

RE:RE:RE:RE:RE:congratsWow one hole drilled and it blew them away enough to make a press release. As per the video they discuss permian basin. That equates to fracking. Clearly the news release says light oil and complete system. So I bet a whole sphere of operations will take place along with the appropriate teams for each section they uncover. But the numbers they are talking about would put Namibia in the top ten for oil reserve nations. No small feat. Life changing events for a country whose GDP reached 12 billion last year. In verse contrarian
Chihuahua wrote:
It could take a few more hole for a discovery or a thousand. What's your point? This is a high risk high reward speculative play. We could have drilled an absolute complete duster for our first hole, clearly we did not. Bribery is common in all countries, you just have to understand the system and capitalize from it.


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