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 > Why I think the Wells are Dusters

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Post by Oregonduckon Oct 01, 2021 11:56am

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Post# 33952502

Why I think the Wells are Dusters

RECO hasn’t done a flow test after setting casing. That’s when companies drill a hole in the ground and see how fast the oil comes out.

The Company says they found a live Petroleum System in 6-2 and 6-1 with light oil. No evidence provided on the quality of oil as to its API grade.

The two oil wells are not connected or “talk to each other” with no lateral traps in evidence. The oil could simply migrate away. It is axiomatic that companies drilled into what they initially thought to be a live Petroleum system, but they turned out later to be non-commercial as the oil had migrated away to form any reservoir.

RECO has just completed a “Death Cross” and it is in a downward Channel indicating it could fall to $3.00 level.

IMHO