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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 pacer001on Jan 01, 2022 3:03pm
275 Views
Post# 34276343

RE:RE:The Mexico thing ...

RE:RE:The Mexico thing ...Thanks cyrustg. It was buried.

Now I don't want to open up a can of worms, but this also raises a lot of questions. It looks like these holdings will/can produce about $10 mil in rev for the year, under very optimistic assumptions, yet our royalty payouts will be 80%?

Ok so we may make a couple of million but thise cautionary notes about remediation are very concerning. If we have to pay for "cleanup", etc. that could easily cost a bundle.

I think we should get out of Mexico, unless there really is something big there, and concentrate on Africa.
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