HALT........in March 2021.....OIL HIT....?????Reco had stated that they had wanted to release the results of their drilling once all 3 holes were done.
HOWEVER,
I am of the opinion that they changed strategy as they have hit oil.
You have indirect confirmation from a couple of press releases:
- lining the well - not to containminate water supply. I read this as they are lining the well as they do not want the oil to contaniminate the water supply. This would cause environmental issues.
- hiring of company to analyze their find (company is specialized in source rock and oil)
- biggest hint: hiring of Mark Gerlitz who negotiates in HOSTILE CONDITIONS (owns 2 million shares).
I think that the company thought that they would hit oil in drill number 3 and could therefore wait for the press release BUT, this changed when they hit oil in drill 1.
So they rush to line the well, to hire company to analyze rock and oil and, hiring negotiator for hostile conditions.
CONGRATULATIONS to dedicated longs.....I am of the opinion that you are holding a winning lottery ticket.
My personal opinion of course