Reconnaissance Energy (Africa) Ltd V.RECO

New to RECO

[smxmcx2]

I have started doing some research on RECO. Obviously a huge target. However, if RECO is successful, what the estimated cost of getting the oil to market? I assume they will have to truck it somewhere unless there is a pipeline to tie into.

Thanks in advance for you response.

[smxmcx2]

A follow up to my prior question, will the current cash cover the 3 well drilling program. If not, what are the plans for funding these wells?

[LandCruiser1983]

When share price gets to $3.00,very soon I believe, warrants will be exercised @$1 and Reco get new injection of cash.

[LandCruiser1983]

A total of 32,855,409 Units warrants. @$1.00

[snowdreamer]

My understanding is that the 3 wells are fully funded from the $32M placement a few months back. As stated above, the warrants will be exercised for another $32M when sp hits $3.  Mgmt stated in the Petroleum Club of Houston (in Oct or Nov) that any finds would be commercialized with trucking ~150 miles to the railway at Grootfontein, and then shipped by rail to the coast. I would assume

[smxmcx2]

Thank you landcruiser and snowdreamer for your responses.

[smxmcx2]

I agree trucking is not a long-term solution. If they find enough, it won't matter in the long run.

[grenouille]

yes, trucking will only be a temporary expedient. if this is as huge as some think it may be, we can look forward to all kinds of infrastructure - pipelines, pumping stations,tank farms, refineries...   a whole oil and gas industrial base.   ...or, if it turns out to be less than a HUGE oil/gas discovery, somewhat less than that.  we must wait and see.  we are not