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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 pacer001on Aug 12, 2022 11:23pm
235 Views
Post# 34893484

RE:rumors...

RE:rumors...

Where did you come across this "rumor"?

I don't doubt that there will be a buyout by a major sooner than later. A billion or two is pennies to them and they routinely write off billion dollar dusters.

But I would think it would be the French (TotalEnergies) with their partners the Chinese since they are already in the area. Plus the Chinese have been pouring a fortune in Namibia having built up the main port, built oil storage facilities, funded the new officers college, trained security personnel,  etc. and there are already a lot of them in Namibia.

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