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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the opening of Kavango Sedimentary Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. It holds 90% interest in a petroleum exploration license in northeast Namibia and a 100% interest in petroleum exploration rights in northwest Botswana over the entire Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (6.3 million acres) and 8,990 km2 (2.2 million acres) in Botswana. The two licenses together comprise 34,325 sq km (8.5 million acres). Its conventional drilling program is focused on analyzing the rocks to determine if there is a working petroleum system in the Kavango Basin.


TSXV:RECO - Post by User

Comment by NameOfTheGameon Jan 26, 2021 4:44pm
268 Views
Post# 32390766

RE:Recent shorting

RE:Recent shorting
The stock has had a meteoric rise over the past three months. I don't know why anyone would be frustrated with the company achieving such a high valuation considering it only has unproven assets. The only thing that's going to drive the price forward sustainably is results that lead to money. It isn't reasonable to value this company currently at over a billion dollars, which is what asking for ten dollars a share would be doing. Patience. Let them gather their rocks and pound on their ground. In a few months even a small discovery of DATA as to where to drill will make this thing run wild.
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