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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 Oct 06, 2022 8:38am
288 Views
Post# 35008821

Namibian pipeline deal is BIG NEWS on the African wires

Namibian pipeline deal is BIG NEWS on the African wiresBut I think building this pipeline on a "crash basis" of only four years will be very challenging:

MINES and energy minister Tom Alweendo and his Zambian counterpart Peter Kapala are expected to sign a memorandum of understanding on cooperation on the construction of a natural gas pipeline project from Zambia to Walvis Bay at Swakopmund on Thursday.

According to Kapala, the gas will be used for power generation while the oil pipeline will help reduce the cost of petroleum products in the southern African nation.

He said the project was expected to take three to four years to complete.

“It is good news that Namibia has discovered oil and gas, and we will discuss how this resource can be of benefit to the people of the region. The new pipeline will further benefit both people of Namibia and Zambia by creating value chains and employment creation,” said Namibia’s deputy prime minister and minister of international relations and cooperation Netumbo Nandi-Ndaitwah on Wednesday during the official opening of the two-day 10th session of the Namibia-Zambia Joint Permanent Commission of Cooperation held at Swakopmund.

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