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 > Some tech

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Comment by Bpultraon Aug 18, 2021 11:02am

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Post# 33723236

RE:RE:RE:RE:RE:RE:Some tech

For me nothing has really changed in this story .. other than a lot of noise … but I also started buying at 2.60 so my BE is probably much less than most… early on in my trading days I would have panic’d by now .. but have learned to play with these banksters and crooks…and shorts…. I have also accepted the fact that the shorts seems to have a lot of power.. and the system is set up as such … this is a very dirty game .. all you can do is do your DD and try guess as best you can .. I for one guessed wrong not selling a whack in the 10’s because it is rigged against the little guy…. But when this was at 8-9-10-11-12 etc there were tons of posts on here .. wish I had bought more in the $5’s .. well here is your chance… I bought more yesterday at $5.63 .. just hang in there this story is long from over .. they either have oil or they don’t .. GLTA
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Buyhigheatchips wrote: Exactly right. Patience and steely resolve now. I feel everyone's pain who didn't sell at the top and endured this horror show of a price drop. Good results in a few months time from the work plan and news about JVs should have us back near the ATH. One hopes anyways.

And if we do have commercial quantities of oil our timing looks good as majors underinvest in new reserves and the world comes out of this pandemic.

TurnToTheRight wrote:
@jimgeorge, I understand that the public are screaming for data and new releases, but what would be the rationale for releasing the wireline logging results from just this one well. Regardless of whether or not the w/l log results are good, the results aren't very indicative of the area without further data from seismic, the VSP, and additional wells (with associated logs and cores) to make an informed inference/estimation.

If you were in RECO's shoes, would you release the log and core results from one well, knowing full well that it is impossible tell anything about the commercial viability of the field, or if the results are indicative of the entire play?

This looks to have run too far too fast, without the material information to substantiate the valuation. There is still the very real possibility that the resources to substantiate a multi-billion dollar market cap exist, but it's gonna take more time to get the data necessary to determine the reserves and commercial viability. I'm still very long Reco, and believe we'll be back to the teens in a little while (but I don't have any idea if that is 2-3 months, a year, 2 years, etc.)