Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 Ebenizer3on Feb 07, 2022 9:21am
229 Views
Post# 34404203

RE:New deal with Namibia is good news

RE:New deal with Namibia is good newsboy, that kinda came out of left field..... hopefully that gets the drillbit turning. I never thought it was a good for a country that is either new to the oil business like Namibia or a country like Mexico who's NOC is $113 billion indebt to hav any WI(working interest) even when like namibia being carried to the tank. It's more beneficial to take a royalty off the top before expenses. 2 mil cash almost seems like a payoff. Before this deal Namibia only benefits from a producing well. So namibia reduces there WI in Namibia and now they hav exposure to Botswana. 5 mil shares with a 4 month hold. I would be a lot more excited about this if they renegotiated for a higher royalties rate, meaning that most of there money would come from producing wells along with delayed rental fees for not operating or producing. I guess we see what intentions namibia has in 4 months with what they do with those shares. Surprising. Looking forward to hear others point of view. Good day
<< Previous
Bullboard Posts
Next >>