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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 veryfishyon Apr 19, 2021 6:17pm
424 Views
Post# 33026359

RE:RE:RE:congrats

RE:RE:RE:congratsThis is an exciting play but also very dangerous. Just remember first wells are rarely definitive. Standard oil /imperial  drilled 133 dry holes before they discovered  commercial oil  at Leduc, Alberta in 1947. 
Namibian Minister of Mines demanded a postive  press release to save his political skin. The Namibians in authority,  who like all in the region  will demand bribes $ to allow RECO to keep its leases.  Today's RECO/ROE merger plan will set up  all sorts of calls for nationalization without compensation. Remember this is Africa, RECO is not Exxon. RECO could be at zero lands with the stroke of a pen.  
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