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 > Prima Facie case of Corruption and Fraud

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Post by Oregonduckon Jul 22, 2022 10:21pm

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Post# 34844920

Prima Facie case of Corruption and Fraud

Paying Namcior or its officials $2 million cash and 5 million shares for allegedly fast tracking permitting and drilling approvals.

Who does that ?!! Namcor has a free-carried 10 percent intereat in all oil leases like the offshore Shell or Total discoveries. Did they ask for same deal with Shell or Total after they discovered several billion barrels of oil?!!

I said a couple of months ago that the Namcor deal smells and argues that it looks like payola to high Namibian officials.The deal didn't close as promised after an outcry.

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