Reconnaissance Energy (Africa) Ltd V.RECO

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

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 > Why the negative spin

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Comment by veryfishyon Apr 22, 2021 1:20pm

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Post# 33045791

RE:RE:RE:RE:RE:Why the negative spin

Good for you. That will assure the Directors resign and the Chief Complliance Officer.
Of course the lands were leased. Mr Steinke is an insider of RECO owns more than 10% but not a director. As the founder of RECO and President from 2010 to 2020 he worked great magic for the company. But on an ethical basis ESG - the G at RECO is a red flag, and the LOI is proof of that,
Expect the directors that care about their stellar reputaions to resign orhave the LOI trashed,
If the latter, RECO stock will settle down, might even strengthen. But the credibility is gone. Who is going to believe future press releases? All very sad.

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