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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 GorgeousGeorge1on Dec 20, 2020 7:19am
318 Views
Post# 32148628

RE:RE:RE:RE:RE:RE:RE:RE:Economic Viability of Kavango Project

RE:RE:RE:RE:RE:RE:RE:RE:Economic Viability of Kavango ProjectWell as an investor I'm trying to quantify risk as best I can, and more specifically what the market will deem as successful in the upcoming drill. I think it's important to highlight what the drill aims to achieve; that is to prove the presence of a petroleum system in the basin by finding source rock, and more importantly that it isn't to test the commercial viability of a reservoir. More than a few posters on here and elsewhere don't understand the difference. The former has more chance of success than the latter, and the share price will act accordingly both pre and post results. In a nutshell, it's the difference between probabilities of geological success (the basin does or doesn't contain oil) and commercial success (the basin does or doesn't contain oil AND we found where it has accumulated AND the oil can be extracted economically)
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