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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 pacer001on Jul 27, 2022 6:31pm
239 Views
Post# 34855316

More worrisome than any court challenges is ...

More worrisome than any court challenges is ...

... the growing unrest over Chinese business and other activities in Namibia.

Some very small things seem to be inciting the locals to violence. I just wonder what it would be like if the Chinese start to develop the oil industry in Namibia. I hope the friendly humane Canadien ownership of Recaf is communicated very well to the locals.

An example of Chinese unrest:

"The situation turned violent as hundreds of people who gathered at the industrial area, refused to disperse which prompted the police to use force by firing teargas and rubber bullets. The police’s reaction, was also due to threats made on social media with intention to burn down shops.
All roads leading into and out of China Town is blocked now blocked by armed security forces, in an attempt to protect property and lives, after some of the demonstrators threatened to burn down the place.
Amushelelo handed himself over to the Windhoek police station around 07h00 after the Police Inspector General Sebastian Ndeitunga ordered that he be arrested, following his self-styled activism of bagging business places alleged to be mistreating and underpaying workers. The police chief said Amushelelo be hunted down and arrested. This is after, the NEFF Commissar for Economic Development, burst into various Chinese-owned shops confronting them regarding employee remunerations and welfare. Thereafter he threatened to shutdown the whole China Town, alleging that they are being favoured by government, though they are selling products that are allegedly not genuine."

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