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Bullboard - Stock Discussion Forum 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... see more

TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > First bit of the Globe & Mail article about RECO.v this a.m.
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Post by hipfner on Feb 02, 2021 8:02am

First bit of the Globe & Mail article about RECO.v this a.m.

(this is an article locked for G&M subscribers, so I'm pasting only the first few paragraphs)

A consultant hired by a Canadian oil company in Southern Africa has launched an extraordinary series of attacks on environmentalists, accusing them of “sabotage” and “colonialism” as the company begins drilling in a region near the Okavango Delta.

Vancouver-based Reconnaissance Energy Africa Ltd. (ReconAfrica) 

RECO-X +16.82%increase
 
hired consultant Sindila Mwiya to conduct environmental assessments for its oil exploration project in Namibia and Botswana. But his bitter criticism of activists has led to calls for his removal over his apparent lack of neutrality.

 

The confrontation is a sign of the high stakes and rising emotions surrounding the oil project, which has garnered increasing attention in Canada and Southern Africa.

The company has touted the Kavango Basin site as potentially one of the world’s biggest oil discoveries in decades, and local politicians see it as a source of much-needed jobs and revenue. But many environmentalists worry it could jeopardize biologically sensitive and culturally important World Heritage sites, including the Okavango Delta.

The company’s first drilling site is about 250 kilometres west but within the watershed of the world-famous delta, whose seasonal floods attract one of Africa’s greatest concentrations of wildlife, including vast numbers of elephants and lions. An elephant migration route is south of the drilling site.

Comment by GorgeousGeorge1 on Feb 02, 2021 8:07am
Thanks for the info. They need to get rid of this consultant. That's not a good look for the company
Comment by Chas15 on Feb 02, 2021 8:18am
People still read the Globe and Mail? Lol. I wouldn't worry about it, just another left leaning newspaper. 
Comment by GorgeousGeorge1 on Feb 02, 2021 8:21am
Even so, you stir this up into a 'us against them' then people get polarised and stop listening to reason. Got to keep the dialogue open and constructive
Comment by Chas15 on Feb 02, 2021 8:25am
The only people who seem to be against the project are people outside the region. From what I've read, the people and villages around the site are all for this, and the advancements that a large discovery can bring. 
Comment by Buyhigheatchips on Feb 02, 2021 8:33am
Agreed. Opposition seems to be ramping up. At some point the company with have to reassure investors that if they find a petroleum system they will be able to get production permits. Commit to no fracking too. Only conventional will be economical anyways. Just my opinion.  
Comment by hipfner on Feb 02, 2021 8:59am
There are always environmental concerns about any project. And yes there is foreign funding for much of that opposition, just as we are foreign-funding RECO The community is the most important factor. If they are on-side and RECO is truly toeing the line with best practices they can continue to explore. All govts. want the tax revenue and jobs for their people. But if their nature reserve is ...more  
Comment by Chas15 on Feb 02, 2021 9:02am
The Namibian government holds 10% of findings, believe me - if there's oil, there will be no issue with production permits lol 
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