Bullboard - Stock Discussion Forum 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... see more

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TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > Operational Update imminent

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Post by Flintstone60 on Mar 31, 2021 7:51am

Operational Update imminent

From discord:
StormO2heute um 13:44 Uhr

Operational Update is “Imminent” According to a message I received this morning.

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Comment by NFKRS17 on Mar 31, 2021 9:42am

If they give an operational update, that will be very bullish. Recall that they had originally said they would only come out with data after all 3 wells were drilled. So why come out right after the very first well is completed? Coz there is something positive to say!

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Comment by Chas15 on Mar 31, 2021 10:09am

At this point, any news is good news in my opinion. The SP has taken a beating this week and some news might help lift or stabilize.

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Comment by Bpultra on Mar 31, 2021 10:26am

================ why do you think a operational update will be bullish? What happens if no oil...? Its an update ? What is concerning is the falling off of the SP as traders hear about an update or want one or see one coming ... usually stuff leaks out and good news bad news will move the stock before the little guys ... US .. hear about it.. it is however low vol so ...more

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Comment by Chas15 on Mar 31, 2021 10:32am

Well there won't be oil in this first well...it's a strategic well and will determine where the next ones are drilled. The next couple are the ones you should be interested in. There has been no insider selling, that's the important thing. They are holding. They like what they see. Patience.

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Comment by Bpultra on Mar 31, 2021 10:47am

=============== yes I know this .. and know the process they are trying to achieve ...drilling holes does not make an oil well.... go look back at NIKO.... 18 dry holes .. just saying..... hype got this to $5... hoping is keeping it at $3 .. now they need to show the MM's somehting..

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Comment by Chas15 on Mar 31, 2021 11:01am

There's no correlation between NIKO and RECO. Other than they rhyme...lol

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Comment by NFKRS17 on Mar 31, 2021 3:05pm

While not much trading on the Canada exchanges, RECAF is trading a lot more on the US market. Around 500,000 shares in US vs less than 400,000 shares in Canada.

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