Reconnaissance Energy (Africa) Ltd V.RECO

would love to be at the hearing today

[farml1234]

would to be in the hearing today

I can just see the Judges face when the plaintiffs present there case and then RECO counters !

The Judge is setting there and thinking these guys ROE has production and VERY good leases in Mexico  !  RECO has large land lease , NO production and no proven reserves and they want to take out ROE on the cheap !!!  My thinking the Judge is thinking this is a royal shafting of ROE bagholders !  Judge says i have to go pee while looking VERY hard at RECO side and i want this settled in 5 minutes or i will settle it !!!!!!


JMHO

[Ebenizer3]

ur memory is kinda fuzzy, less than 1200 boe with terrible royalty rates and an inability to get permits to drill wells that according to lease was supposed to be done 2 or 3 yrs ago. And a service contract that was supposed to migrate to a PSA 2 or 3 years ago. Yeah go talk to Talos and see how there negotiations are going. Lol . Go ask TC. Ur better off taking the carne guisada with cheese and a

[cyrustg]

You are wrong. Roe was starting to hit oil every 2-3 weeks when drilling.They succesfully drilled 18 wells. Had identified over 400 targets . Then Amlo pulled the rug out from under the oil industry and changed all the rules-- not just for Roe but many others in an effort to take over the oil industry. When he is voted out of office the new government will want to get revenues flowing again and

[Ebenizer3]

those 17 wells drilled in chicontepec and 1 well to test the shale were drilled for pemex, roe recieved no benefit other than to get paid under the service contract which they still haven't received full payment for service performed. Its not worth the aggravation and the liability to wait for amlo and any Mexican to operate in good faith. Again go look up what happened to TC, and recently

[cyrustg]

They know how to find oil and drill it They are owed approx $45 million and they have a whole block full of oil , Amititlan, tied up for another twenty years that they can't get permission to drll but no one else can drlii on it either. The wait will be worth it for Reco once the takeover is complete. Ciao

[TeslaPlus1]

There are NO plaintiffs. This is more likely than not just a formality, reaquired by securities law.  Essentially a NON-EVENT.  Unless someone files  a petition in the next few hours (i.e. before 4:00 pm PST Today) and puts up the cash to do so.  Highly unlikley.