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 > Financing next steps

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Post by petesfreak15on May 06, 2021 6:46pm

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Post# 33148928

Financing next steps

Things are lining up nicely.

1st thing need to do is absorb ROE and get that off the table.

Then the $$ from financing I assume (some of it) will be used to 'support' locals and governments while things are getting built. Using some of that money to build wells, schools ect that are 'good publicity'. Ok with this, once ROE down and well results in, next stage is huge.

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