Reconnaissance Energy (Africa) Ltd V.RECO

More worrisome than any court challenges is ...

[pacer001]

... the growing unrest over Chinese business and other activities in Namibia.

Some very small things seem to be inciting the locals to violence. I just wonder what it would be like if the Chinese start to develop the oil industry in Namibia. I hope the friendly humane Canadien ownership of Recaf is communicated very well to the locals.

An example of Chinese unrest:

"The situation turned violent as hundreds of people who gathered at the industrial area, refused to disperse which prompted the police to use force by firing teargas and rubber bullets. The police’s reaction, was also due to threats made on social media with intention to burn down shops.
All roads leading into and out of China Town is blocked now blocked by armed security forces, in an attempt to protect property and lives, after some of the demonstrators threatened to burn down the place.
Amushelelo handed himself over to the Windhoek police station around 07h00 after the Police Inspector General Sebastian Ndeitunga ordered that he be arrested, following his self-styled activism of bagging business places alleged to be mistreating and underpaying workers. The police chief said Amushelelo be hunted down and arrested. This is after, the NEFF Commissar for Economic Development, burst into various Chinese-owned shops confronting them regarding employee remunerations and welfare. Thereafter he threatened to shutdown the whole China Town, alleging that they are being favoured by government, though they are selling products that are allegedly not genuine."

[Wynjoe]

Sounds like another nail in the coffin,not that reco needed another. Even if drilling continues it will take weeks to discern drilling results.Plenty of time to buy when and if they don't go bankrupt in the interim. August 3 will see drilling shut down and environmentalists will be more prepared by then.No big oil will be interested in this play with all this turmoil happening. Below $2.00

[pacer001]

Wynjoe, NOT another "nail in the coffin"; just something to be sensitive to. If Recaf handles it right, being a Canadien company can be a great plus. Canadiens generally have a very good international reputation and a hunamitarian one too.

[Wynjoe]

You don't worry about recent 30 percent s/p drop?court actions? running out of cash ? drilling and all activity shutting down August 3?environmentalists concerns? now street fighting? management decisions? big oil and pipeline and infrastructure permitting? None of this bothers you?Class action?

[montreal10]

I am not worried about BS. Do you worry about Recon drilling in progress and the oil and gaz they are about to prove?

[pacer001]

No wynjoe I am not worried; all the things you mention are just background noise. As with any company there are challenges and more so with African ones. i have been investing in South African mines (SBSW my big one) for over 12 years and the ups and downs have been dramatic. Example: necklacing where non-striking workers had a gas soaked tire put around them and set on fire! And yet they have

[Bpultra]

================ when do you think you guys want to cover your short position ?  mid 3's or you think you are going to be able to push it lower ?