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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

Post by Wynjoeon Jul 21, 2022 9:49am
265 Views
Post# 34840038

The flip flop side....

The flip flop side....Environmental factors equals DOOM. Whether its David Attenborough's cult like following or Greenpeace militia or even Suzuki's tree huggers,when you get the Greta Thunbergs of this world protecting an ecological anomaly like the kalahari desert your facing an uphill struggle. With this recent ecc challenge there will be ZERO probability that any pipelines ,roads or infrastructure will be approved in Namibia,and any and all permits will have to be in place before "big oil" would even consider buying reco.I will be surprised if drilling wont be shut down immediately and with lawsuits and court actions pending reco is a MAJOR SELL. Multi millions of shares were issued recently for pennies and sellers will line up and flood the market with these shares upon an s/p crash.The 40 million dollars on hand,(last equity offering),wont last long when you have to fight off environmentalists as will as pay for lawyers to fight court actions,and third parties who don't agree that your government followed protocol.SELL BEFORE THE CRASH!!! Remember when an environmentalist hugs a Rhino or kisses a baby leopard kitten OIL WILL LOSE. Morningstar has gone from 5 stars to 3 and a value of $14.00 to less then last equity offering in under 3 months...SELL NOW!!!!
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