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).

TSXV:RECO - Post by User

Reconnaissance Energy (Africa) Ltd > Day of Reckoning

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Post by Oregonduckon Jun 13, 2023 11:04am

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Post# 35493638

Day of Reckoning

The Co must submit audited financial statements by no later than 4 months after new year end or July 31. It will likely show they will owe over $100 million on Mexican oil royalties. The debt will subsume Reco and the Co will be forced into Chapter 11, or more likely, CCAA or BIA proceedings since they are domiciled in Canada.

They can fake it, but they can't make it !!!

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