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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 werROBINHOODon Jan 24, 2021 9:21am
477 Views
Post# 32370418

RE:RE:RE:A Must Listen

RE:RE:RE:A Must Listen Not an oil expert but am an expert at research. From one oil contact in Calagary, a UofC drinking buddy, the majors would be horrified if RECO hit a gusher. They want those events for themselves. The sweet spot for them is to let the juniors prove up the geology and then they step in and use their expertise to decided where to drill to hit oil. If the company actually hit a resivoir accidentally, which has happened, while drilling for core then it becomes extremely expensive for them to come in so they no doubt are watching carefully and if they like what they see, they are the experts with the deep pockets and a high risk tolerance, they will swoop in and pressure a deal before the geology proves up too much and gets exponentially more expensive for them. Anyone else care to comment on what I was told this morning?
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