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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 Wynjoeon Aug 10, 2022 11:41am
270 Views
Post# 34884970

Trading halted on reco.....

Trading halted on reco.....There was a MAJOR oil discovery today on the first of four wells drilled in the Kavango basin. The recent equity raise @$6.35 covers the cost of these four wells,and reco is extremely ecstatic over this monumental find. Further analysis is needed to ensure the scope of this discovery and testing will be ongoing as we commence the drilling of the next three wells.This is the type of headlines we hope for.This is what has s/p from dropping much lower.
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