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 > Cutting my position

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Comment by Shirs1on Jun 25, 2021 1:48pm

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Post# 33451265

RE:RE:RE:RE:RE:Cutting my position

One of the main reasons I'm investing in this stock is because oil demand will continue to make up a very significant if not predominant portion of the energy mix. This will be the case well into the second half of the century. Oil production and exploration in western nations is and will continue to be paired back. As such the last oil major production centers will be Africa, ME and Russia. I saw this play as somewhat insultate to the wider shift to renewables. Financing will be needed and that will come from China.

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