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 > Facts vs Hype

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Comment by Bpultraon Oct 18, 2021 11:41pm

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Post# 34020875

RE:Facts vs Hype

Oh man.... another one for my file.... so I get to say I told you so... lol
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Oregonduck wrote: Granath said there are no discoveries. The strat wells have found a column of oil but whether they are movable is yet to be determined.

As I have said before, I believed 6-2 and 6-1 are dusters. There has not been a flow test done and/or successfully locating the lateral traps and the oil needs pressure to flow. The oil is likely unconventional shale oil.

Maggy Shino, the Oil Commissioner, said during last week's Parliamentary hearing that there will not be any drilling of oil in the sensitive Okavango basin. Drilling will be done in Botswana 200 Km away.

As for farming out or JV, CNBC reported that the major oil giants are acutely aware of ESG and the bad optics of exploring for fossil oil.