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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 peterj99on Jun 14, 2021 8:23pm
410 Views
Post# 33386191

RE:RE:RE:RE:RE:RE:RE:RE:RE:What would 10 billion recoverable barrels mean for

RE:RE:RE:RE:RE:RE:RE:RE:RE:What would 10 billion recoverable barrels mean for

Did you notice this part?

On Friday December 18, 2020, the price was $1.91
Today it closed at $9.42

The day you joined, you said “ I am by no means a basher, I own a few shares

Good for you !

I guess you bought at or below $1.91

Well I bought before you.

I bought a few thousand shares and I paid 80 cents

That was a hefty price for me as I usually buy shares 10 cents or less

But I made an exception because of the management, their experience, and their reputations.

I also considered the fact that Namibia is a mining friendly country

and that they owned an entire Permian basin which extended into Botswana (at that time they owned half of the Botswana part)

At that time, I had the Botswana portion covered too, as I owned a ton of ROE shares that I bought for a few cents.

I later converted those ROE shares into RECO

So, I am fine with my RECO shares.

I have enough now and will just wait and watch.

I believe Teheran's price guess is just fine (maybe a little low LOL)

As usual time will tell

Not to rub salt into any wound, the bulk of my RECO shares are in a TSFA

That is the RISK I am prepared to take and NOT advice for anyone.

It does reflect my confifence in the management and the project

Enough said


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