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 > shorts are stubborn

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Comment by TurnToTheRighton Jun 12, 2021 7:13pm

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RE:RE:RE:RE:shorts are stubborn

Appraisal wells, 1-2 years off have commercial production, but the number of wells drilled in that phase of development is rather low, so not a lot of production. It's the development phase where production ramps up. This doesn't co trading the excerpt you quoted, I believe there will be some minimal commercial production. But I would be interested to know what volume of production was occurring after o my 2 years, my guess is not much. Shell and BP also get to skip a step that RECO must undertake, finding major JV partners as a junior.

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