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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF | V.RECO.WT | RCNWF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest Botswana over the Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (km2) (6.3 million acres) of oil and/or gas exploration properties comprising Blocks 1719, 1720, 1721, 1819, 1820 and 1821 situated in the Kavango Basin of northeast Namibia (the Namibia Licensed Property) and approximately 7,592 km2 (1.88 million acres) in Botswana (the Botswana Licensed Property). The two licenses together comprise over 32,933 km2 (8 million acres).


TSXV:RECO - Post by User

Comment by GorgeousGeorge1on Dec 19, 2020 4:34pm
313 Views
Post# 32147700

RE:Putting things in perspective!

RE:Putting things in perspective!I believe that 5-8% chance of commercial success applies to drilling a flowing reservoir. This was my point in a previous post, we're not drilling a potential reservoir, we're drilling for source rock and to conduct seismic surveys. I'm no expert but I assume this gives us a greater chance of achieving success with this drill (but also means our upside won't be as huge as some have speculated). If we find source rock then we map the area and jv the blocks to the highest bidders. The whole risk v reward proposition changes when you own the rights to an entire basin, gives more optionality as opposed to a make or break drill on a single block. Nobody corrected me when I made this point previously so if my assumptions are wrong please let me know. Cheers
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