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.

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Reconnaissance Energy (Africa) Ltd > Todays Selling is Anson Funds

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Comment by Bpultraon Aug 05, 2021 12:35pm

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Post# 33655220

RE:RE:Todays Selling is Anson Funds

I think this short sellng story/excuse is well over done.. all rumors IMO
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NFKRS17 wrote:
If that is true, they are so screwed.

To cover 3 million shares, you would need about 5x that many shares to trade in the market (assuming you can even manage to buy at 20% of volume). So if they are

Year to date, RECO has traded about 1.7 million shares/day. So they are looking at trying to cover 3 million shares into a rising market over 9 long and miserable trading days. Of course once the market figures out there is a desperate buyer, the sharks will circle around Anson and the offers will start vanishing.

FWIW, the warrants are trading at $3.75...which implies a future price of $17.75. Yeah...that is where the last bit of buying to cover for Anson will come in.