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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

Post by hipfneron Feb 02, 2021 8:02am
409 Views
Post# 32444883

First bit of the Globe & Mail article about RECO.v this a.m.

First bit of the Globe & Mail article about RECO.v this a.m.

(this is an article locked for G&M subscribers, so I'm pasting only the first few paragraphs)

A consultant hired by a Canadian oil company in Southern Africa has launched an extraordinary series of attacks on environmentalists, accusing them of “sabotage” and “colonialism” as the company begins drilling in a region near the Okavango Delta.

Vancouver-based Reconnaissance Energy Africa Ltd. (ReconAfrica) 

RECO-X +16.82%increase
 
hired consultant Sindila Mwiya to conduct environmental assessments for its oil exploration project in Namibia and Botswana. But his bitter criticism of activists has led to calls for his removal over his apparent lack of neutrality.

 

The confrontation is a sign of the high stakes and rising emotions surrounding the oil project, which has garnered increasing attention in Canada and Southern Africa.

The company has touted the Kavango Basin site as potentially one of the world’s biggest oil discoveries in decades, and local politicians see it as a source of much-needed jobs and revenue. But many environmentalists worry it could jeopardize biologically sensitive and culturally important World Heritage sites, including the Okavango Delta.

The company’s first drilling site is about 250 kilometres west but within the watershed of the world-famous delta, whose seasonal floods attract one of Africa’s greatest concentrations of wildlife, including vast numbers of elephants and lions. An elephant migration route is south of the drilling site.

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