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.

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Reconnaissance Energy (Africa) Ltd > Realistic? Unrealistic? Do numbers lie?

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Comment by hhlfanon Feb 04, 2021 9:16pm

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Post# 32480542

RE:RE:RE:RE:RE:RE:RE:Realistic? Unrealistic? Do numbers lie?

If we find commercial oil, it's likely that the oil majors operating offshore Namibia (a half dozen or so) are going to want to farm in, possibly jointly, leaving Recon with around 10-15% interests, but reducing the cost to develop. Recon share price would go up a lot, allowing for it to raise lots of money to fund its share of development.

I personally believe Recon is in the right place at the right time and shareholders stand to make a LOT of money. That is why I have taken a large postion here, putting in money that I can afford to lose if things don't pan out.

I have confidence in this team, they are top quality & have great track records producing value.

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