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).

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Reconnaissance Energy (Africa) Ltd > Very BULLISH sign: Haywood clients want to be part of RECO

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Comment by Moneycaton May 05, 2021 6:40pm

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Post# 33137513

RE:Very BULLISH sign: Haywood clients want to be part of RECO

My sentiments exactly...very bullish and very soon !!!

Hiddensecrets wrote: This bought deal is extremely BULLISH sign for RECO.

It means that Hayword clients want it, it also means that they believe that hole #2 will be a success.

Bought deal was done just in time before it becomes insider information as they drill hole #2.

I believe that institutional demand is going to heat up as we move higher.

And the discount given to Haywood is minimal, almost at the price in which shares were trading. RECO rewarded Haywood by giving them a bought deal as they did not really need the funds.

This puts RECO in an even more powerful negotiating position with major oil companies.

And once one big institutional firms buys, watch as the rest will follow their course.

Dilution was very minimal at 1.6% in return for lots of cash.

mpo