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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 GorgeousGeorge1on Jun 25, 2021 10:20am
211 Views
Post# 33450017

RE:Latest G & M report

RE:Latest G & M reportArthur runs Canadian Overseas Petroleum. He was successful in the North Sea, and came under much criticism for jetsetting around in a company jet and paying himself a massive salary. Nth Sea ops went broke, after taking on too much debt, poorly managed assets, they sold for peanuts. They then drilled a much hyped make or break well offshore Liberia. You want to see a real pump job? He pumped that stock HARD, on nothing but seismics. Claimed a +30% chance of commercial success, but used suggestive language to imply it was almost a sure thing. They drilled it and hit nothing, not even minor gas shows, nada. Stock opened 80% down. Yet months later, with no assets, a small market cap, and no cash, they continued paying themselves massive salaries, and kept raising capital to do so. Art is the king of pumps
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