My Prediction ReconAfrica will be bankrupt within 6 months. The share price will go to zero.
The runway is short and the Co will likely crash and burn unless they found oil. Chance of success is remote before the money runs out. It costs some $10 million per well and the Co has no wherewithal to raise any more money.
Reco will have to file for bankruptcy protection under the Company Credtiors ArrangementAct (CCAA) to shield the defendant insiders from the Class Action lawsuit alleging securities fraud for inflating the stock price - pump and dump. The Mexican National Oil Co and/or the Surety Bond underwriter could demand payment and petition Reco into bankruptcy proceedings for overdue oil royalty liabilities owing of US$59 million as of June 2022, and counting.