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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  V.RECO.W.A | RECWF | 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 JunTraderon Feb 10, 2022 8:05am
241 Views
Post# 34415673

RECONNAISSANCE INTERNATIONAL OIL COMPANIES EXPLORING NAMIBIA

RECONNAISSANCE INTERNATIONAL OIL COMPANIES EXPLORING NAMIBIA
"Canadian independent exploration company Reconnaissance Energy Africa (ReconAfrica) has been exploring Namibia’s onshore prospects in the Kavango Basin. Having drilled three conventional exploratory stratigraphic wells in 2021, the company announced preliminary results from April 2021, whereby the first and second wells revealed a working petroleum system. Now, as exploratory drilling continues, in February 2022, ReconAfrica signed a letter of intent for the acquisition of 5% of NAMCOR’s carried participating interest in the 6.3-million-acre PEL 73, thereby strengthening its presence and interest in the basin." 
 
https://energycapitalpower.com/top-international-oil-companies-exploring-namibias-hydrocarbon-basins%EF%BF%BC/
 
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