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 > On CEO it is stated that Hayward wanted $ 72 million

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Comment by Sandpointon May 07, 2021 10:41am

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Post# 33151893

RE:On CEO it is stated that Hayward wanted $ 72 million

I read that to mean RECAF is confident in a postiive outcome from well 2. If well 2 is in fact positive the the stock price will go up significantly, and they can then get additional funding without having to dilute the shares as much. Will be fun to watch this play out over the next several months.

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