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 > It is darkest before,,,

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Post by Oregonduckon Aug 09, 2022 8:36pm

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Post# 34883436

It is darkest before,,,

it becomes completely black.

If they don't discover any oil, the stock is done. You can stick a fork in it.

They will never be able to do another round of financing when the money runs out. Each well will cost $10 million and they owed $48 million to the Mexicans.

The Co might have to file Chapter 11 or CCAA bankruptcy protection to shield the insider defendants from the Class Action lawsuit filed under the ambit of perpetuating an alleged con.

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