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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF | V.RECO.WT | RCNWF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest Botswana over the Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (km2) (6.3 million acres) of oil and/or gas exploration properties comprising Blocks 1719, 1720, 1721, 1819, 1820 and 1821 situated in the Kavango Basin of northeast Namibia (the Namibia Licensed Property) and approximately 7,592 km2 (1.88 million acres) in Botswana (the Botswana Licensed Property). The two licenses together comprise over 32,933 km2 (8 million acres).


TSXV:RECO - Post by User

Comment by ClaySRFon Jul 29, 2021 9:36am
370 Views
Post# 33620287

RE:RE:RE:Oil Flow

RE:RE:RE:Oil FlowBefore you order your yacht and jet keep in mind there's a limit to the stock value based on many parameters. For one even if there is a huge mega elephant discovery it can't be monetized in a short period of time - it will take years and decades. Another way to look at it is Exxon has a market cap of about $250 Billion - it's doubtful any combination of the majors acquiring Reco would add up to anything like $250B. And PDNP (proven developed non producing) oil in the ground is heavily discounted for acquisition and value purposes. And even if the first 2 wells are proven beyond dreams that's only 2 wells and doesn't give a lot of value to the other 8+ million acres. I'm long and in for the long haul but my expectations are it could be a run up over a couple of years to $50-75. I'm sure there will be farmouts and partnership deals but those take time, drilling takes time, etc - years.
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