Post by
SirRichard1987 on Apr 22, 2021 3:01pm
Mgt Tightens the Spring
ReconAfrica's officers are displaying superb skills. First, nab the Kavango Basin. Second, buy their own exploratory drill. Third, accelerate call warrant exercise - raising capital before the stock pop. Fourth, announce deep oil & gas discovery then immediately buy out Renaissance Oil through a stock deal. True, S/H didn't like the dilutive effect of warrants. S/H also don't like the dilutive effect of the buyout. Nonetheless, ReconAfrica tightened control, tied up the loose ends, is debt free and poised for greatness. Anticipate explosive gains after successful second spud announcement.
Comment by
Chihuahua on Apr 24, 2021 4:22am
on a side note, if the merger goes through we will have more debt from Renaissance Oil, about $4,000,000 more.
Comment by
Ebenizer3 on Apr 24, 2021 11:40am
renaissance's debt will be reduced or extinguished when they offload their stake in amatitlin and chiapas blocks, probably at the same time they finalize the deal to be acquired by reco. Curious to see what lukoil will do since amlo trying to run IOC's out of Mexico.