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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 veryfishyon Apr 20, 2021 2:30am
189 Views
Post# 33027305

RE:RE:RE:A Few Questions from a shareholder of RECO and ROE

RE:RE:RE:A Few Questions from a shareholder of RECO and ROEA LOI has no meaning in law. A Definitve Agreement does, There is and there will continue to be  
a growing outcry and pressure on the directors to end this merger. Key players are being asked to  approve a deal which has a massive conflict of interest at  its core. Why VP IR   and big shareholder who invested real money in the unit last August at 70  cents is gone due to this merger and conflict of interest.

U. S.  institutional shareholders have a habit of initaing strike suits against the company and directors  when they lose money.  That legal action clock started ticking today. Any U. S. shareholder who bot the stock today btween $9 and $10 is in the red. Under ERISA  U. S. money managers have an obligation to consider legal action called a strike suit for damages. Once RECO falls to $3 all hell will break loose from  a U. S.  class action lawsuit.   This merger LOI is a redflag to both Canadian  and U. S.class action  legal firms who get paid by a contingncy -- usuallly 30% of the settlement or a  court ordered judgment.
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