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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 Spookpukeon May 31, 2023 1:08pm
237 Views
Post# 35472892

Re: Rolling Stone Article

Re: Rolling Stone ArticleA well written article that is an essential read for anyone needing a refresher on this unfortunate saga. All about greed.

Thia is the final statement:

For ReconAfrica’s investors, it’s a less happy result. One way to think about ReconAfrica is as a mechanism for sucking millions of dollars out of the pockets of investors. That’s a mechanism that is as old as capitalism itself.

In any case, Steinke and his pals have already moved on to a new adventure — in Kansas, of all places. This play is not for oil — it’s for helium, the gas used in party balloons, but also increasingly valuable in high-tech manufacturing. The playbook for this company, called Total Helium, appears to be identical: the same key players (Telfer, Keep, Steinke). The same targeting of investors. The same hype from Oilprice.com (“Unprecedented Helium Shortage Could Send Prices Sky-High”). There are no migrating herds of elephants at risk in Kansas, but the hustle goes on.

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