Post by
Hiddensecrets on Feb 20, 2021 12:55pm
Mark Gerlitz BOUGHT 509,935 shares ($ 2 million)
Mark Gerlitz bought 509,935 shares of Reco on February 17, 2021, spending $ 2 million on the stock.
On February 18, 2021, he gets appointed to the RECO board as a director, of which it appears to me the main purpose is to NEGOTIATE with majors in hostile or friendly environment.
Information can be found on CEO.CA, sedi insider filings.
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He was not an insider on February 17, 2021 and therefore was not privy to any corporate affairs.
HOWEVER, the $ 2 million investment in common shares is very telling and is the MOST BULLISH SIGN ever that we have a PETROLEUM SYSTEM IN PLACE.
Who in their right mind would invest $ 2 million in shares of stock, if there was an indication that all RECO had was sand.
He might have read the tea leaves or, he may have read the POSITIVE CORPORATE LANGUAGE like I did or, maybe once he got the phone call from RECO he may have assumed, if they are calling me then they probably have some good news.
Either way, this is ANOTHER STRONG HINT that we have a PETROLEUM SYSTEM IN PLACE.
MPO
Comment by
DrDredge on Feb 20, 2021 4:32pm
One thing is certain, at least in the United Stated. You cannot trade a security based on information provided to you by a corporate insider unless that information has been made available to the public. That would still constitute illegal insider trading.
Comment by
GorgeousGeorge1 on Feb 20, 2021 4:56pm
Anyone else find it strange they said in the press release that Mark Gerlitz was recently at Marelago consulting (for which I can find no material or reference to anywhere) and didn't mention he's worked for Jay Park's firm from 2013 - 20? I don't know what to make of that. Thoughts?
Comment by
GorgeousGeorge1 on Feb 20, 2021 5:41pm
Montelago, that's it. Yes I saw his LinkedIn. Outside of that I can't find anything on Montelago
Comment by
bandykell on Feb 20, 2021 6:18pm
Agree with you. In my view, it's a BUllish. They share piece of the cake to friends. I don't think that a clever person would share it if it is negative to friend or acquaintance. It is sure at this stage of drilling they have an very clear idea of strat and core.
Comment by
teheran10 on Feb 20, 2021 6:22pm
Might be true. This guy would never invest in a company with sand amd nothing to show for. I don't care as long as there is lots of oil in that ground.
Comment by
yrmac on Feb 20, 2021 9:08pm
https://www.canadianinsider.com/node/7?menu_tickersearch=RECO+%7C+Reconnaissance+Energy+Afr Is this what you are looking for
Comment by
hipfner on Feb 21, 2021 7:37am
Gerlitz purchased his shares in advance of him becoming an insider. We don't know when, or at what price. That's private. What we see on sedi.ca is that he is now an insider and therefore he had to disclose his holdings. This is very bullish.