Reconnaissance Energy (Africa) Ltd V.RECO

Most of the Warrants have been EXERCISED

[Hiddensecrets]

I believe that most of the 33 million warrants have been exercised.   

Shareholders were preemptive in their exercise.   They did not wait for the company to call in the warrants as it normal creates a downdraft on the price.   The selling from $ 5.00 to $ 3.30 was the downdraft from the exercising of warrants with selling of shares.   This is NOW DONE.  

Therefore, the company already has it coffers full.   Will the company call in the balance of the warrants, which is about 1 million left is an unknown.   They may not call it in as they already collected on the bulk of the warrants. 

Expecting NEWS update, most probably NEXT WEEK.

And I sincerely believe that they hit OIL.....

Headlines will say,  MAJOR OIL DISCOVERY

MPO

[hipfner]

As of Sep 30 there were 58,708,987 warrants outstanding with a weighted strike price of $ 0.82 Where did you get your 33million number? How do you know if any warrants were exercised? There is no motivation to exercise them before expiry, or before triggered by the company.

[hipfner]

Okay, I found the 33million # in their latest investor presentation.  Weighted $1. With the comment that warrants will be forced after 20 trading days above $3 No speculation required, it's been 17 days above $3 So next week the treasury picks up $33million and we get diluted. :) **unless disaster strikes and the price falls below $3 before Tuesday.

[NameOfTheGame]

I'll be curious to see how dilution affects the stock price. Most of the value in this company is speculative. On one hand, the extra money improves our chances of a success on proving the reservoir through expanded exploration which technically derisks the play. On the other hand, you're also increasing the number of stocks by about 25%. I'm sure there's people here with better