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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 Goldrush97on Dec 29, 2021 4:27am
221 Views
Post# 34266719

RE:The KING shall speak.....

RE:The KING shall speak.....Pretty weak comparison. Apache have assets in the US, Egypt, Libya and North sea producing oil. Roughly 450k barrels per day. Those 879 million barrels does not include their Suriname discoveries over the past few yrs which so far is peg at 1.5b barrels. They have 50/50 JV with Total so half of those should be accounted to Apache reserves. They final FID about block 58 in Suriname should come early next. Apache is undervalue in my opinion. Cgx is all about location. Exxon found about 10b barrels next door to cgx block. Apache/total found another 1.5b barrels also next to cgx block. This is high risk high reward play. An JV or sizable discovery will send this stock way higher. Still early days in recaf. They need to do more drilling and derisk the block and get some high profile partners. But I agree sizable discovery is at least 5x from here.
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