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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

Post by peterj99on Jul 01, 2021 8:55pm
316 Views
Post# 33480498

veryfishy

veryfishyveryfishy posted this on April 21, 2021 I wonder what he is thinking now LOL (2) Every day with a vacuum of news is a death by a thousand cuts. ROE market cap today is $113 million vs. a valuation for the merger with RECO of $155 million a 1/3 discount. On the exchange ratio basis .046 of a RECO share at today's RECO closing price down 5% to $7.62 (being down again to as low as $7.25) the spead at closing was 3 cents per share, which gives some faint hope a merger sucess. As RECO continues to decline day after day -- no news - profit taking, worries, ROE declines daily to. It is called "a round trip".RECO back to $ 3 and ROE to 10 cents.
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