Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s): V.RECO.WT | RECAF

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 > Under Liquidity in the MD&A

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Comment by farml1234on Mar 03, 2023 8:52am

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Post# 35317021

RE:Under Liquidity in the MD&A

Re::: The Company’s subsidiary, Renaissance, does not have sufficient

funds to completely repay the outstanding royalty balance. Additional funding will be necessary should payment be

required on the balance of the royalties payable. Initial results from the upcoming operations will influence !

HEY if i remember correctly the Mexican government is way behind on paying Renaissance for the oil produced and sold to the Mexican company so why should we have to pay any royalty

JMHO

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