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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 ubiquitousmanon Jan 17, 2021 8:57pm
238 Views
Post# 32316703

RE:RE:RE:Target price on success: $ 24/share to $ 5,760/share

RE:RE:RE:Target price on success: $ 24/share to $ 5,760/shareIf this is a tight shale play, horizontal well, multi stage fracing, their break even will probably be north of $60  a barrel and that is after the expenses of getting all the equipment and infrastructure over there to be able to drill and complete tight shale wells.  The hope is they can find some big conventional fields, which is trickier, but hey, they are calling this a Permian Basin look alike, I will take another Yates field any day. A low cost big conventional discovery and this thing would take off like a rocket. That said, the odds are against it, but one can always dream.
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