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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 GorgeousGeorge1on Jun 13, 2021 1:20am
232 Views
Post# 33378844

RE:RE:RE:RE:RE:RE:shorts are stubborn

RE:RE:RE:RE:RE:RE:shorts are stubbornNo need for people to flip out at the points Turntotheright is making. Markets are forward looking, productions estimates and a clear plan for infrastructure capex will be enough to get the share price moving. But honestly, my money is betting on the Chinese to acquire the entire project, they'll likely want the whole thing with no other operators. They want secure supply to meet their domestic demand at a stable price, and a full buyout would ensure that. Oil majors like Exxon, BP etc are going toward renewables and moving away from new fossil fuel development capex, regardless of robust demand for the foreseeable, it's become unpopular with irrational shareholders. I can't see a huge bid coming from them.
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