Reconnaissance Energy (Africa) Ltd V.RECO

Went to the Horses mouth

[judomacca]

Since there were so many rumours flying around and a stock halt this morning, I drcided to call  RECO up. This is no problem since I live near Vancouver, the heart of Howe Street Stock Scams.
The lady was very nice but wouldn't give out any info, but did say she is a big holder of stock and continues to hold. She said at the outset the venture was to find a permian system and that idea was more speculative than it is now. Whatever that means.
She says the idea of drill, find oil and mine it is not what they are looking to do. They want to prove up an extensive Permian-type basin and will not be releasing results until they have finished their 3 well exploration and seismic operation. 

At the same time they are taking longer than forecast due to extensive sampling 

Their plan is to finally drill up to 10 water wekks for the local population

[teheran10]

They will be sued if they had material info and did not release. They might not know the market law than. Someone send them email maybe. I have already done that.

[TurnToTheRight]

Jay Park is a Canadian lawyer with substantial experience... they know the law.

[ReConAfr]

Jay Park was accused of bribery in Somalia and Chad... this whole thing is dodgy... at first it was all about unconventional, then it's conventional... call the UK number for ReconAfrica and you reach Jay Park Energy... the office in London is just a front... its all running on fumes

[teheran10]

slander

[TurnToTheRight]

Your Due diligence blows!!! Park Energy Law is his LAW FIRM... where he is the managing partner. It is a completely seperate entity from RECO. Park Energy law is an LLP, Reco is a company, completely incompatible legal entities.  And unless he was convicted, i really wouldn't believe the bribery charges.

[smilley69]

I don't have a ton of shares but I'm in for under $1/share.  I'm going to ride this to $0 or $20.  There are are games being played and prices manipulated up and down.  I'll just enjoy the show  and enjoy.  The only ones sweating this one are the day traders.

[ReConAfr]

UN Security Council made the bribery claims so I'm listening... https://www.reuters.com/article/uk-un-somalia-soma-idUKKCN0Q829Q20150804 FYI There is no ReCon in the UK, no company, and nobody by that name at the address...

[Fuqufrank]

Yes there is you numb-skull. https://reconafrica.com/contact/ They have a uk address you liar. Why are you lying? If he did bribe officials that is good news. A cutt-throat person is perfect for capitalistic endeavors.

[Crunch5555]

Because as the English say ..the wanker is pumping his plays here and is probably short Reco.

[GorgeousGeorge1]

I'm not commenting on this specific allegation. You should recognise though - this is not uncommon in Africa. Foreign execs are forced to grease palms if they want to operate there on any level. It's a very different landscape than nth America

[Chas15]

The recent plummet in SP with no NR from the company is more concerning. 

[GorgeousGeorge1]

On a percentage basis it's performed about as poorly as Tesla over the last month, and I don't see any NR out of Tesla to soothe nerves. Speculative money is draining from these markets. RECO is only about halfway to TD, there is no leak

[Crunch5555]

NR for what ? Investors who had $1 warrant options are selling stock at a higher price to buy them instead of losing them.Most of the warrants were exercised when the stock was at $4 which was a good sign.The last stragglers are probably poorer retail investors with empty coffers who gambled the SP was going higher before they had to exercise their warrants.Sellers gifted me with cheap shares..its

[Chas15]

It's okay, being emotionally attached to a stock is normal. It's definitely not good though. Lots of that here. 

[GorgeousGeorge1]

Lol, and don't you love to stir it

[stiffupperlip]

Agreed - when a highly speculative stock drops 50% and no NR that is a problem.  It rattles to the core confidence in the company. 

[Chas15]

I'm not asking for them to send a wellbore sample to my house lol but maybe a "we are 45 days behind because XYZ. Things are going according to plan" blah blah. And don't compare this to Tesla...ever. Lol. 

[GorgeousGeorge1]

It's got more chance than outperforming the index than Tesla has from here, so I will compare them - on relative performance/alpha. It was intended for amusement. Lighten up

[Buyhigheatchips]

It's not the company's job to hold our hands when there's some volatility. Maybe better off in GIC? 

[WHVWHV]

I am a sizable shareholder, a little less than Mark Gerlitz. Some at $.70 some off the market a bit higher, I will redeem and hold my warrant shares next week. Yesterday Haywood did not release publicly, but was told that everything was going as planned and there were/are no issues. For anyone who has been in the markets for a very long time you can tell stock manipulation when it happens. This

[Bpultra]

Thanks for taking the time to post..... any idea of how many warrants are still outstanding ?  ============

[WHVWHV]

I do not know how many warrants are still outstanding.  As of about a week ago there had been about 2/3 redeemed. I am not expecting a large sale on warrant redemeption. A lot of the warrant holders who are still holding, like me, are not in a rush to sell those warrant shares and do not need any share money to redeem them. There may be cases where their account rep tries to talk them into it

[teheran10]

.....you only have a few trading days to exercise your warrants, do you know that?  at this point, meaning at this SP, the ones who held the warrants until now have made a huge mistake. Hopefully the SP bounces back to $4.50-$5 and you can exercise them. It may happend but you guys will have only 9 trading days for this to happen.

[WHVWHV]

I suppose I should have said 'I am not expecting a large sale or sell on warrant redemeption'. Also let me be absolutely clear, Haywood reps advise their clients, they feed them information, but every single trading decision is absolutely the decision of the client. Some reps are more conservative, some are more aggressive, but still the decision on actions in an account is always the

[Bpultra]

============= Yes but if someone who has warrants usually has shares they have bought in the open market... and maybe they do not have the cash to exercise the warrants ... so what they do is sell thier shares in the open market to raise $$$ to exercise the warrant,,,, not saying that is happeening now but it does happen alot... also some funds have to rebalance thier holdings so they sell shares

[WHVWHV]

You are not telling me something I do not know. I have done it many times myself. That is by no means the only option. Several decades ago when I may not have known all the possibilities I may have asked the question but would not have told someone they were doing it wrong because I did not understand the possibilities.

[Crunch5555]

Retail investors without unlimited funds are the ones liquidating to exercise their warrants.Deep pockets kept their original holdings and exercised warrants..they want to have it all.Almost done with warrants ..was a gift to add or begin a new entry this last week.Onward and upward we go.

[hydrocarbss]

It's tough when one realizes a corporation is not being operated in a manner that supports one's psyche. It's possible times like these reveal what one is truly made of.

[TurnToTheRight]

2 problems with your statement: 1. Alleged, not proven, therefore did not occur for all intents and purposes 2. Jay was accused of having a conflict of interest, not a bribery charge. Please READ and use some LOGIC. What moron reads your article and gets that Jay was indicted for bribery. It says in plain english an alleged conflict of interest.