Reconnaissance Energy (Africa) Ltd V.RECO

Some more pr

[Bpultra]

https://www.africanews.com/2021/09/14/reconafrica-delegation-to-attend-african-energy-week-in-cape-town-committed-to-promoting-namibian-frontier-exploration/

[CammerRec]

From that recent link pbultra posted: We have PROVEN reserves??? Other oil companies now exploring? There are some curious statements in this media release; when did we get to be "proven"? I thought we just were working on getting to "probable"? Or is this just referring to offshore? Also I though we had 100 % exploration rights; not 90%. If we have just 90% who has the

[jenganaplastic]

For someone who posts a lot, you sure don't read a lot.  Namcor have 10%, Recon have 90%

[CammerRec]

Yes jengenaplastic I understood that Namcor is holding 10%. Now I am not a lawyer let alone an American, Canadien, or Namibian one. But the way I understand this all Namcot is the license granting authority, and from previous posts, these are granted by blocks, tracts, whatever. So that is what I was getting at: have they started cutting up and allocating their 10% like with the offshore parcels

[CammerRec]

I am almost sorry that I opened this can of worms but I thought it was important to know exactly what we have going on here in that I know leases and tracts are normally bid out and can vary greatly in value.  Apparently Namcor is an offshoot of the government but also has other entities involved. Here is an example of what is involved ; not Recaf, for illustrative purposes only. https