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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF

Energy Metals & Mining Oil & Gas E&P Industrial Metals & Minerals
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

Reconnaissance Energy (Africa) Ltd > WE KNOW WHY ALLEN, VP IR AND BIG RECO S/HAREHOLDER LEFT -
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Comment by SprengoMon Apr 20, 2021 3:23am
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Post# 33027332

RE:RE:RE:RE:RE:RE:WE KNOW WHY ALLEN, VP IR AND BIG RECO S/HAREHOLDER LEFT -

RE:RE:RE:RE:RE:RE:WE KNOW WHY ALLEN, VP IR AND BIG RECO S/HAREHOLDER LEFT -

The way you put it does seem very fishy (;)), but I don't think that you can call it manipulation considering he did not know what he was going to find at the time of the deal. Even if this was his plan all along, he took a big risk, which turned out very good for him.
I would only start becoming worried if he sells off large portions (as in 50%+) of his Reco interest, because that would show he is not confident in the play anymore
Are insiders actually even allowed to sell shares at this moment?

I think his move was a genious one, allowing him to 150x money without losing anyone any money (well unless you bought in at 10CAD and sold afterwards). You should not be jealous on that, instead be happy if you are able to 3-5x your money on this olat with just having to do some reading.

 

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