MAJOR hint in Corporate Language....."The exercise of these listed warrants significantly strengthens the company's balance sheet, providing a strong catalyst to accelerate ReconAfrica's objectives in developing this newly discovered deep Permian basin," said Scot Evans, chief executive officer.
=========================================================
I want you to carefully note the words used by RECO. As I stated a company behaves in one way when there is success and another way when there is failure.
Look at these hints:
- Strong catalyst (meaning momemtum continues for them, but for what???)
- Strengthens balance sheet (probably towards negotiations with majors)
- develops (which confirms you have something to develop if not why use the word)
- newly discovered (which means NEW DISCOVERY of some kind, what do we have???)
- deep Permian basin (this is what they have discovered, how do they know it is deep and how do they know it is Permian???)
MPO