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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 Shirs1on Feb 07, 2022 9:26am
214 Views
Post# 34404224

RE:RE:New deal with Namibia is good news

RE:RE:New deal with Namibia is good newsThis looks a good deal for both. Namcor gets cash flow and a balance sheet add - they also get the opportunity to benefit earlier than first production revenues, assuming there is a price run up in anticipation of that.  If there is nothing in the fields then namcor just monetized for $2m one of the licenses and lives to fight another day on others. I do wonder if this is a precursor to a wider recon farm down. This would give namcor the chance to benefit from that farmdown where as in the previous state they don't. 
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