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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 10, 2021 5:20pm
395 Views
Post# 32532236

RE:MAJOR hint in Corporate Language.....

RE:MAJOR hint in Corporate Language.....They already knew it was Permian, that is what they were shooting for on these holes, so that isn't "new" info.  Reading into the "discovery" is more tempting.  Of course the addition of money from warrants being exercised will strengthen the balance sheet, should go witout saying, which will drive towards the goal of these 3 holes without fear of needing to raise cash.  Good stuff, but don't try and read too much into it, he isn't speaking in tongues.  Good news that they were able to accelerate, leave it at that, because warrants will be exercised and many will dump them for the quick buck, driving SP back down a bit short term.  Long term as long as this plays out the way most of us expect, I think we will be very happy.
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