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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 TurnToTheRighton Jun 12, 2021 9:47pm
317 Views
Post# 33378653

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:shorts are stubborn

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:shorts are stubborn

I think there is an absolute ton of oil there, and I don't think I have indicated otherwise. I think the share price can sky rocket, but I don't know if the fundamentals will ever justify a 30-40 billion plus market cap. And I genuinely don't want the misinformation from some to be promulgated. 

Overall, I'm in for the long haul, but I will sell once the SP far exceeds what any logic can justify. Long term, my concerns revolve around the development of midstream/export infrastructure capacity, as well as a race between development of the basin, increasing production to match the massive reserves (which I do think there are), and the major's shifting away from oil (look what happened to Exxon's board election a few weeks ago).

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