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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 CoreyBon Feb 04, 2021 10:44am
256 Views
Post# 32469946

RE:Realistic? Unrealistic? Do numbers lie?

RE:Realistic? Unrealistic? Do numbers lie?Take into account what they are claiming these numbers as, is it in-place or recoverable or?  Generally recoverable oil in conventional plays is maybe 5% of what is in place.  Still 5% of 12B is nothing to sneeze at, dwarfs the 50M, just temper the enthusiasm of assuming this is a moon shot, could go to sh!t just as fast.  Not bashing at all, just keeping feet on the ground.
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