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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 Wynjoeon Feb 16, 2022 10:29am
143 Views
Post# 34433505

Class action spells trouble...

Class action spells trouble...Reco has not properly assessed the wells it drilled,and is charged with pumping the s/p? $2.17 yearly low is still maybe high for this " titantic" sailing.I cant believe that Royal Bank employs and or pays Morningstar for giving a 5 star rating and a value of $11.65.They or him/her should be compelled to quantify how this value was ever determined,especially when reco valued themselves at this stage at $6.35.Shamefull.Talk about your pump and dump.Reco should be delisted or any and all other companies that have class actions filed against them.MAJOR SELL,and if these filings are remotely true,this company should go bankrupt.
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