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 > Nick Steinsbergers success

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Comment by Tarheel89on Apr 03, 2021 2:04pm

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Post# 32934007

RE:RE:RE:Nick Steinsbergers success

I was in the relatively conservative price camp up until I saw what happened with 88 Energy.

They got whiff of 1 Off Shore well with up to 600m barrels of oil and the market gave them a 1 Billion dollar cap within 2 days.

We are talking about a buttoned up team doing 3 test wells and a seismic study to indicate potentially 200x as much on shore conventional oil.

If 88 Energy could get a 1B dollar market cap for their situation, it would not surprise me at all if RECAF could get 100x or 200x that valuation after releasing a well-studied and mapped out convential play orders of magnitude larger.

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