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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 doggiestyleon May 14, 2021 12:44pm
282 Views
Post# 33203983

RE:Would not be surprised

RE:Would not be surprised I dont think they need the cash for quite a while. I noticed that they are now budgeting $8 miillion per well for 4 to 6 whereas I seem to recall the first 3 where just over $4 million per well. I think they are being extremly conservative with the budget estimates and will end up having  extra cash from the $36 Million cash raise to last them into next year. Might need to spend more on dealing with these greenies and leftist media though..
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