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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the opening of Kavango Sedimentary Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. It holds 90% interest in a petroleum exploration license in northeast Namibia and a 100% interest in petroleum exploration rights in northwest Botswana over the entire Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (6.3 million acres) and 8,990 km2 (2.2 million acres) in Botswana. The two licenses together comprise 34,325 sq km (8.5 million acres). Its conventional drilling program is focused on analyzing the rocks to determine if there is a working petroleum system in the Kavango Basin.


TSXV:RECO - Post by User

Comment by veryfishyon Apr 20, 2021 12:27pm
243 Views
Post# 33029650

RE:StinkyFish working for a major or just a crooked broker

RE:StinkyFish working for a major or just a crooked brokerI have said repbeatedly the   RECO-ROE  $100,000 to $18.6 million lay up for Mr Steinke is completely  legall and that it  stinks, but it is absolutely  legal. The lay up speaks of how the RECO board is a rubber stamp for the original founder of RECO, yet who is no longer on the board or part of its management.  The RECO board screwed RECO shareholders by selling lands for $100,000 in June 2020 and now is buying those same lands back for $155 million in new  RECO shares, diluting  RECO shareholders by 15% in new shares issued. You pay for that dilution.  Says what kind of a board it is -- hardly one that protects  is shareholders interests which is why there are Boards of Directors. The RECO board is protecting Mr Steinke's  interest  while concurrently not defending  its shareholder? Answer: MIA. . In an ESG world RECO's board is not a  ZERO it has negtive value.. It would be a farce were it not for the damage done by the directors  to shareholders interests. I expect some Board resignations  if the merger is not cancelled.
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