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).

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Reconnaissance Energy (Africa) Ltd > Financing next steps

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Comment by Moneycaton May 06, 2021 9:13pm

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Post# 33149618

RE:Financing next steps

Will RECO do a JV with a major or will RECO just get bought out fully for an insane amount of money ??

petesfreak15 wrote: Things are lining up nicely.

1st thing need to do is absorb ROE and get that off the table.

Then the $$ from financing I assume (some of it) will be used to 'support' locals and governments while things are getting built. Using some of that money to build wells, schools ect that are 'good publicity'. Ok with this, once ROE down and well results in, next stage is huge.

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