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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

Post by doggiestyleon Oct 27, 2021 2:41pm
365 Views
Post# 34055664

Post From Discord

Post From Discord
On Feb 3 2021 RECO traded at  $4.76 - this was BEFORE the first well was even drilled!!! We have been around these levels for much of today. The market is giving $0 value to drilling 2 succesfull strat. wells, finding oil, gaining a solid understanding of the geography including proving good permability, porosity though top zones and  a fractured carbonate zone, reporting shows in 5 zones, proving out working petroleum system with required seals and migration, completing a seismic program that will provide the data on where to drill the next 4 to 6 exploration wells.   SEEMS TO ME LIKE ALL OF THIS IS WORTH MORE THAN $4.80 - 5 cents of VALUE FOR ALL THIS WORK?
 
 
 
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