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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 May 02, 2023 6:33pm
212 Views
Post# 35426292

The last big oil discoveries were …

The last big oil discoveries were …

... long ago! 


From the OP site:

"

8 The last big ones

Most of the massive oil field discoveries in the world were made before the late 1980s. Since then, discoveries of huge fields have been negligible in terms of numbers. In fact, the only really big oil discovery in the last 30 years was the Kashagan field in the Kazakh section of the Caspian Sea. The field has a maximum production capacity of 380,000 bpd, which was hit in 2019. Its development has not been free from trouble, cost overruns, and delays, but it continues to contribute a substantial part of Kazakhstan’s oil output."

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