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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 Sep 01, 2022 8:03pm
234 Views
Post# 34937031

RE:Haywood Report

RE:Haywood Report

Thanks curious; something finally readable but this mostly has been known over the last few days. Nothing by itself to push Recaf up 30% plus. Note Haywood's assessment: NEUTRAL! See below.

I think the shorties went in their pants on just some good news and panic bought to cover!
 

From Haywood's release yesterday: 

Makandina 8-2 Well Drilling Update
Our Take: Neutral. ReconAfrica announced it has reached total depth (TD) of the Makandina 8-2 well on time and on budget. Work ahead includes well data collection and analysis that will be used to make subsequent appraisal/development decisions. The rig will remain on location until logging and coring operations are completed, with initial results anticipated around the end of September. Drill results are highly anticipated and confirmed success here will certainly give the Company and the market a boost of confidence.
 

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