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

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Reconnaissance Energy (Africa) Ltd > Recaf Drilling Water Wells

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Post by Oregonduck on May 30, 2022 10:09pm

Recaf Drilling Water Wells

Hallelujah, Recaf drilling water wells. Why are they not drilling for oil in over a year? The more I look at Namibia, the more it is analogous to Somalia.

Water wells are more valuable than oil wells in Africa. There has never been any oil discovered onshore in Namibia and Somalia, period. Super majors such as Shell, Exxon, Chevron, Total etc.are all bidding for offshore blocks and not for onshore. There is reason why Recaf couldn't get any JV partners.

When they found water in Somalia, villagers were dancing and rejoicing, but not for prospects for oil.

"..,Access to clean drinking water is a big problem in Somalia as it is in the entire Africa. The IHH charity foundation has so far materialized various social relief projects in Somalia and dug 247 water wells in the country over the past three years. The foundation also drilled another 17 wells in 2010. Each well will provide thousands of Somalis with clean drinking water."

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