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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF | V.RECO.WT | RCNWF

Energy Metals & Mining Oil & Gas E&P Industrial Metals & Minerals
Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest Botswana over the Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (km2) (6.3 million acres) of oil and/or gas exploration properties comprising Blocks 1719, 1720, 1721, 1819, 1820 and 1821 situated in the Kavango Basin of northeast Namibia (the Namibia Licensed Property) and approximately 7,592 km2 (1.88 million acres) in Botswana (the Botswana Licensed Property). The two licenses together comprise over 32,933 km2 (8 million acres).


TSXV:RECO - Post by User

Reconnaissance Energy (Africa) Ltd > rennaissance is a bargain
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Comment by CoreyBon Apr 19, 2021 3:06pm
219 Views
Post# 33023228

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:rennaissance is a bargain

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:rennaissance is a bargain
Matteo1234 wrote: As far as I understand the news release. RECO wants to aquire ROE for it's land rights. ROE shareolders get .046 a share of RECO. At $9.00 X .046 = .042 cents a share. Why is it trading at .033 cents. Does anyone have an answer ?


Because the deal was made at a certain price for each company, but the news has pushed it up today so it skews the numbers everyone is jabbering about.  Basically if you sell some RECO at current price and throw that exact money into ROE you should be ahead of the game a handful of cents per share, provided the deal doesn't fall through or anything else happen to cause prices to change.  If deal completes then every 1000 shares of ROE turns into 46 shares of RECO.
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