Renaissance Oil Corp. RNSFF

Terms of the Merger

[derpa]

Recon Africa gets 17% more land for an 11% dilution. This was as much as admitted by an employ of Recon Africa in an email that was recently posted on one of the discussion forums.  If I remember he placed the land accrual to 15% but he probably forgot to take into account Namcor's 10% participation in Namibia. Now of course one could argue that Namibia is already tested whereas Botswana is more uncertain. Hence the discount on a per acre basis.   

Yet in this case we don't only have a case of a "haircut" on land holdings; we are also assigning a zero value on all of ROE's operations and leases in Mexico.  Current operations of 1.200 bpd plus  a partnership (with lumpia) in a 25 year lease to a valuable onshore field. Hence I think a more  fair deal would be as follows. Spin off the Mexican assets to a separate company and allocate the shares to ROE shareholders. 

For disclosure I own shares in both companies

[derpa]

Sorry, meant to say partnership with Lukoil.

[Matteo1234]

It's just facts. You guys think your genius. RECO buys ROE. ROE becomes a sharholder and part owner of RECO. From a nothing company to a shareholder in a world class find. Nothing in Botswana has been proven. Other words a great deal for ROE.

[LandCruiser1983]

agreed.

[LandCruiser1983]

agree with derpa's comment

[doggiestyle]

This stock is NOT invisible to prospective interested buyers in this play. Any prospective buyers for RECO would likely also be interested in ROE's Botswana assets (maybe more so).  This is why the LOI has a 30 day window - It doesn't leave a lot of time for anyone else to do Due Diligence or even put an offer together. RECO trying to wrap this up before they prove the field out any

[Matteo1234]

ROE + RECO = Solid land mass basin = GooD Deal. Stop overthinking bullsheot for brains.