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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 11, 2022 3:30pm
188 Views
Post# 34955291

RE:Russia losing the Ukraine War-oil to collapse?

RE:Russia losing the Ukraine War-oil to collapse?Things are going very badly for the Russians with them losing more ground every day.

But I have been thinking, even if Putin falls, there is no guarantee he will be replaced by someone friendly to the West. Indeed that supporter of his that was killed by a car bomb was a hawk that thought he was not aggressive enough.

The big thing with Recaf is that is in an area of Africa that has to import oil and is energy starved. Example: recently a South African oil refinery had to stop operations because it could not get enough crude.

Recaf should be a low cost producer with a ready nearby market and thus I think relatively isolated from world oil price declines.
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