Reconnaissance Energy (Africa) Ltd V.RECO

Another nail in the coffin - from its own government!

[pacer001]

Recaf already has one foot over the grave and another on a banana peel? Will this be the push over? And by its very own government to boot?

https://oilprice.com/Latest-Energy-News/World-News/Canada-Ends-Support-For-International-Oil-And-Gas-Projects.html

[wmstock]

Did you read this part, "Per the new guidelines, the Canadian government will not provide support to any new oil and gas projects globally but will continue supporting existing projects as these do not fall within the scope of its COP26 commitment.".  They will not provide support for ANY NEW OIL and GAS projects.  Recaf is not new. 

[peterj99]

pacer You have morphed into a Wynjoe  Canada will at least support Canadian oil and gas Because if it doesn't the words in the anthem The true north strong and free  will become The true north strong and freezing

[Yo_Dog]

That's interesting Pacer. Didn't know the CDN gov supported any O&G here. Several years ago our superior leader, JT, villainized the industry. There are countless projects in some form of permitting limbo and the scuttlebutt is they will stay so. We will see higher gas prices here with the 'wizards of knowledge' we have leading the charge. 

[jimgeorge]

Right you are, Dog!  Recon does not receive any funding from the Canadian govt - read their financial statements!  Pacer/Cammer, get your facts straight. the Canadian govt funds almost zero oil and gas projects internationally.  This announcement is just virtue signalling, they're banning something they already don't do.

[pacer001]

This would apply to any FUTURE possible investments from Canadien companies. Per the conference call that I heard they are actively looking for partners and I would think a Canadien one would have been desirable and in the running.  Also a major government coming out with something like this sets a very negative tone for other potential partners and might accelerate a trend starting

[Lostalotandgone]

This post has been removed in accordance with Community Policy

[jimgeorge]

This has ZERO impact on Recon, they don't receive any Canadian govt subsidies and never would.  Next topic please!