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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 InvrsContrarianon Apr 20, 2021 3:58am
368 Views
Post# 33027352

RE:RE:RE:RE:RE:congrats

RE:RE:RE:RE:RE:congratsWow one hole drilled and it blew them away enough to make a press release. As per the video they discuss permian basin. That equates to fracking. Clearly the news release says light oil and complete system. So I bet a whole sphere of operations will take place along with the appropriate teams for each section they uncover. But the numbers they are talking about would put Namibia in the top ten for oil reserve nations. No small feat. Life changing events for a country whose GDP reached 12 billion last year. In verse contrarian
Chihuahua wrote:
It could take a few more hole for a discovery or a thousand. What's your point? This is a high risk high reward speculative play. We could have drilled an absolute complete duster for our first hole, clearly we did not. Bribery is common in all countries, you just have to understand the system and capitalize from it.


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