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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 RawSiennaon Apr 19, 2023 6:25pm
127 Views
Post# 35404014

RE:to Jim George

RE:to Jim GeorgeHere's what a lot of people don't understand, that information belongs to Namcor and it is at their discretion to release all or none of it, not Reco's

What is ReconAfrica’s policy in regard to petroleum data?
In Namibia, the Petroleum Act, 1991, outlines that the control of and ownership of petroleum data vests in the Government of the Republic of Namibia under the custodian of the Minister of Mines and Energy (MME), by virtue of the powers given to its officials. The data is confidential for a period of 5 years.

There are circumstances under which ReconAfrica, NAMCOR and MME may share, publish and/or reproduce petroleum data which are:

a) NAMCOR and/or ReconAfrica may share, publish and/or reproduce petroleum data when consent is obtained from the Minister of Mines and Energy

b) NAMCOR and/or ReconAfrica may provide the data to an affiliate, assignee, professional advisor, bank or financial institution, contractor, any stock exchange for purposes of complying with securities law or a court of competent jurisdiction to comply with a court order.

c) NAMCOR and/or ReconAfrica may trade data with third parties in accordance with normal petroleum industry practice provided consent is obtained from the Minister of Mines and Energy.

This policy is very consistent with oil and gas laws in jurisdictions where the sovereign owns subsurface rights. ReconAfrica’s policy is to strictly honour applicable law. For well data, ReconAfrica will capture all the data from all sources at the end of each well program, and transfer data to the MME. After official acceptance, a request for the release of data under certain circumstances (as per above) can be made.
https://reconafrica.com/operations/frequently-asked-questions/

 
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