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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 Ebenizer3on Jan 27, 2021 12:14pm
252 Views
Post# 32399529

RE:RE:RE:RE:RE:RE:Environmentalists groups...

RE:RE:RE:RE:RE:RE:Environmentalists groups...and as for the infrastructure question when the EF started there was no storage or pipelines close by, having been there hauling for eog they trucked it to rail head in Gonzales, gardendale by cotulla, we trucked to port o'connor, aransas pass and loaded it on barges, off loaded at the refinery in three rivers, not to mention the roads that were built on all these ranches. The Permian basin they were trucking it al the way to San Antonio, corpus Christi. I think it's $5 per bbl by pipeline $10-15 by rail, $15 - 20 by truck. In Namibia labour cost a little lower. For the people of Namibia it means lots of jobs. On the jv side of things share holders can expect to be carried to the tank. Meaning share holders get a free ride to the tank battery. Reco has 90% royalty to play with. In the U.S. its only 75%. So the well and all the tanks and equipment are paid by jv partner. Share holders will be paying for lease operating costs, repairs, cost of trucking or cost to use pipeline. The only problem I see is covid19, its obvious wearing a mask and washing ur hands and distancing had no effect. And the inability to do something as simple as vaccinating people is not acceptable. Hopefully one day soon we'll know the truth. I guess all us 5yr olds will throw a tantrum until we get our way or we get our behinds tanned.
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