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

Reconnaissance Energy (Africa) Ltd > added more this morning

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Comment by NFKRS17on Aug 09, 2021 10:33am

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Post# 33671480

RE:added more this morning

Makes sense to buy this dip. They did a deal at C$9.50. You are getting it at a big discount.

Then look at the trading volumes. On the Venture exchange, we are up to 1 million shares in the first hour of trading. Average for 2021 is 936,000.

Big volumes at a low price = bottom.

Then you have our shorts which need to cover. If they don't start covering soon, they are likely to get into trouble with naked shorts...although admittedly, they have lots of profits to book.

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