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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 > Bidding war for us? Sinopec vs Gazprom?
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Post by CammerRec on Aug 26, 2021 3:52pm

Bidding war for us? Sinopec vs Gazprom?

I am going off on a lark here,  but I can see it - if our field is as good as it appears - that there could be a bidding war here - between majors but also specifically between the Chinese versus the Russians. 

It is well known the Chinese are aggressive buyers of oil resouces. But what is not that well known is that the "Big Bear" of Russia is stirring and becoming more aggressive too.

Contrary to all the pr that is being put out about their Artic ambitions they are moving boldly and aggressively into the Middle East and Africa. They just bought into a big Iraq oil field and have a big military base in Syria to project power in the region.

More worrisome is that with our mess in Afganistan, our supposed staunch ally, Saudi Arabia, just flipped sides from us to the Russians signing a big deal with them. For the US and the area this can not be good and sooner than later.

Now as to us in Eastern Africa, during the cold and Angola wars, the Russians and their proxies, the Cubans, were big players in the region and generally seemed to have made a good impression as they poured reasources into the region. 

Now if our field/s are anywhere near as good as they seem, I see not only the big western oil companies wanting in but in addition to the ever expanding Chinese the Russians too.

Just imagine a bidding war. I could see like $20 a share, and maybe more, sooner than later. Another reason why I am holding my Recaf positions even though these ups and downs can be nerve wrecking.

Comment by Moneycat on Aug 26, 2021 4:22pm
20 a share only ??  If there is a bidding war( and for there to be a bidding war the find will have to be huge )  you could easily add a 0 to that 20 in a heart beat.  20 a share would mean only a 4 billion payout.  For there to be a bidding war this find will have to be well over a couple of billion barrels. Lets say  its  5  billion barrels of recoverable oil ...more  
Comment by JohnnyDoe on Aug 26, 2021 4:40pm
I don't see the namibians beingtoo quick to jump in bed with the Russians or the Chinese A bidding war sure, just not with who you're suggesting
Comment by derpa on Aug 26, 2021 5:41pm
The area of interest (that Grayson highlighted in his tweet) I make out to be between 200-300 sections (square miles). As per Jarvie this would generate 80 mm barrels per section or 16-24 billion barrels of oil. Call that 1- 2.5 billion barrels of recoverable oil. That is in just one sub-basin. So yes I could see 5 billion barrels overall and maybe more. Would be interested to hear from any geo ...more  
Comment by CammerRec on Aug 26, 2021 6:06pm
Yes, derpa I too would be interested in hearing from geos. Also I wonder how an expert sees us in comparison to Uganda which is zipping  along with development. My impression only, is that Nambia could be bigger.
Comment by jimgeorge on Aug 27, 2021 2:19am
And if it covered one million square miles there would be 80 trillion barrels of oil....
Comment by frank7717 on Aug 28, 2021 5:52pm
As good as it appears? Right now it doesn't look like anything. One hopes that will change, but to date we've got squat.
Comment by CammerRec on Aug 28, 2021 8:19pm
Yes, Frank 7717 it is true now that we have squat. But I dont think any realistic investors here think all this will be fast and easy.
Comment by lamulah on Aug 28, 2021 9:12pm
I believe the first well hit a reservoir and it's going to be big. Just look what is happening behind the scenes. Lot's of things happening.
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