Reconnaissance Energy (Africa) Ltd V.RECO

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

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).

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Reconnaissance Energy (Africa) Ltd > GAP FILLED....

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Comment by Fredo51545on Apr 20, 2021 1:48pm

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RE:RE:GAP FILLED....

Without a drillstem test showing flowing oil on the second test well, there will be no material new information to drive the stock higher. Even that news is not due before June. We certainly do not "know" there is an ocean of oil there. We also do not know if there is much economic value in the event of a discovery because of the complete lack of transportation infrastructure. I am optimistic on all counts but that is an opinion not certainty.

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