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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 06, 2021 10:42am
203 Views
Post# 33498684

RE:end the speculation

RE:end the speculation@Peterj99, that is a terrible idea, RECO needs to determine further information regarding the reservoir prior to drilling a producer. RECO needs to further delineate the basin, determine the extent and commercial viability of various potential drilling locations, and settle on drilling and completion designs. They have drilled 2 strat wells, we are a long way off from drilling a pure producing well. Appraisal well sure, but even then, my guess is that that is a year away (at least). Patience is key, RECO is simply mitigating risk and developing the project in a prudent manner, so that once they do start drilling producing wells, they are in the absolute best spots, with the highest production volumes, and returning the highest rates of return.
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