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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

Post by Sandpointon Aug 06, 2021 3:03pm
417 Views
Post# 33664475

Schedule

ScheduleHere is my take on the upcoming schedule. The seismic operation will run to Nov 1. The next move will be to drill for oil. So they will take some time to analyze the seismic and drill data to pick a spot that they hope will produce oil. So give them a month to do that. Drilling would then start around Dec 1. The first two wells took about 5 months drilling time, so lets say, the 3rd one takes 2.5 months. So that means that we are looking at mid Feb 2022 for a positive result of oil. I would hope that they would publish strong data before the third well begins drilling.  If we are lucky they will post some of the other drill data before November. But the bottom line is that we are aout 6 months from having the first flow of oil. 
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