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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

Post by Redrum180on May 17, 2021 3:03pm
370 Views
Post# 33215433

Buying Opportunity

Buying Opportunity     While the same cast of characters start running when there's news of a pp, it's time to back up the truck.  The panickers are taking their profits now.  

     Look at the terms of this deal.  The private placement investor pays $9.50 a share, a dollar more than today's price and they get a HALF a warrant for each share exercisable at $14; in effect, a long-term call option at $14, double the current price.  I'll be happy as a pig in you know what to see the share price at $14.

     As far as I can tell, nothing, other than the pp news, has changed the fundamental value of RECO.  All that has happened is they are taking in a sh*t ton of cash, with more to come when the stock goes over 14.  

     Diluting something that promises to be so huge is of zero concern to me.

     Of course, this is not investment advice; it's only an expression of how I feel about RECO.  

      Oil is up; gold and silver as well.  What a time to have oil in the ground as inflation marches on.  

      Lastly, it's not just on blind faith I'm making these purchases; we know there is a very large basin that is characteristic of other large finds and RECO has already found oil.  Sure, there's always risk with every purchase and I'm willing to assume those risks and soldier on.  
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