Bullboard - Stock Discussion Forum 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... see more

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Reconnaissance Energy (Africa) Ltd > Trading

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Post by fredo1 on Aug 13, 2021 1:48pm

Trading

Starting to rebuild position at $1.2 billion market cap. Totally arbitrary but down 50% off high seems like a good place to start. Many months til significant news.

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Comment by teheran10 on Aug 13, 2021 1:59pm

You nerlver know what might be announced next week.

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Comment by NFKRS17 on Aug 13, 2021 2:16pm

Yes, my thoughts exactly. We know for sure that there is oil. The only thing left is to prove that it is commercial. With the sequence of events coming up, it is impossible to see how we don't get it to be proved commercial. Steinke says 6 months if we are lucky, 12 months if unlucky...but that is lawyer speak...underpromising and eventually over delivering. Next up is ...more

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Comment by NFKRS17 on Aug 13, 2021 2:28pm

I forgot to mention joint venture partnerships. Whether they happen right after the seismic is processed or after the next well is drilled...I don't know. But industry professionals would definitely pay attention to what CoreLabs and Horizon have been saying. Who would not want to partner up in onshore Namibia, with a virgin basin?

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