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 > 20 $ this friday ???

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Comment by JohnnyDoeon Jun 16, 2021 6:24pm

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Post# 33399564

RE:RE:RE:RE:RE:RE:20 $ this friday ???

AUborealis wrote: If Jarvie is right i.e. 120 Billion barrels.

If 5% recoverable = 6 Billion barrels

If $1.00 value per Barrel for Reserves

- Then $6 Billion USD Mkt Cap.

Todays combined Mkt Cap close of RECO ($1.5 B USD)
and ROE ($0.150 B USD) = ~ $1.65 B

Can you say a quick 3 Up from todays Close...for starters.

i.e. ~$30.00 USD....$35.00 CAD.

Could see the Warrants POP to $20.00...trading at $4.20

I think 5% recoverable is low, I'm no expert but I've read 6% to 8% is more normal 1 buck a barrel per barrel of reserves is very low Jmho but if they perm up 6B recoverable, my kids will become socialite types lol