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Reconnaissance Energy (Africa) Ltd V.RECO

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

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 Elephantson Feb 03, 2021 11:41am
292 Views
Post# 32458604

RE:RE:RE:RE:almost ready

RE:RE:RE:RE:almost readyYou never know what is there until you drill it. But a couple examples from the extreme of a well blowout (which isn't ideal but it would confirm hydrocarbons). The gas alarms can go off (they are audible so even someone on the highway nearby would hear them). Oil in the mud (from the pit having a sheen to obvious oil). Days of source rock in the cuttings. That's just to name a few that some observer outside of the site can see. Then there's all the data on site, employee chatter, etc. There are already unconfirmed rumours and others have gone complete radio silent.
 
Even if they want to wait, if IIROC calls (the stock was halted the other day) RECAF will have to disclose to them what they know and IIROC may disagree and require a press release.
 
I think it would be best for the company (and my shareholdings as I'm a long term long whose added recently) if all the results to come at once with a Sproule report but the reality may be different.
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