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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 Jul 01, 2021 6:14pm
291 Views
Post# 33480209

RE:RE:RE:Question for geologists or for oil experts

RE:RE:RE:Question for geologists or for oil experts

JimGeorge, that makes zero sense for the parties with real money to have the raw data released, they are bankers not geos and engineers. Second, that's industry standard practice. Exxon doesn't go and show you the data for their offshore Guyana blocks, they distill the data down. And yes, there is a potential for RECO to cook the books, but that is why to graduate to the big board the reserves need to be corroborated by an independent party; and all of the institutional money is waiting to have the investment derisked via third party reserves analysis.
 

So please tell me what RECO has to gain by releasing raw data, except for maybe the 1% of investors or potential investors that would actually know what they are talking about. Also, I was unaware that geophysicists partake in the economic analysis of a play, I thought reservoir/exploitation engineers do that using the information provided by geologists and geophysicists.

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