RE:fyi Suddenly, the eco system became "fragile." I hear six turtles and a chicken passed out from gas fumes...a tragedy! (Regulators: That is a joke!)
Somehow this "imaginary" oil basin has shown the presence of un-imaginary oil and gas. How the flock did that happen when they're supposedly drilling willy-nilly exploratory wells?
Viceroy says some of the principals may have checkered pasts. As far as ethics go, I wonder if Viceroy took a short position before releasing this valuable "report" out of the goodness of their hearts just hours before the weekend began when day traders make adjustments in their portfolios. What a wonderful public service; screaming "sell!" on a Friday afternoon.
Viceroy mentions a "Namibian businessman" who was "implicated" in bribery scandals. "Implicated?" Look that word up.
National Geographic is more worried about saving the planet and all of its wildlife than a project that could boost the economy of Namibia and bring modern services to folks who live in sub-optimal conditions today. Come on; even WATER is scarce and RECO is drilling wells so thirsty folks can have access to water. National Geographic's issue is the environmental impact of drilling and the company has addressed that thoroughly; they are steering clear of the most sensitive areas.
Lastly, I'm shocked -- shocked that a company would "promote" its own stock! (Apparently Viceroy is only in favor of promotion when they are promoting negative information about RECO!)
How many times have we invested in good companies that didn't promote their stock and that kept their share price low and kept them from accessing new capital with private placements. Many of those companies were bought out and the new entity successfully turned those assets into cold, hard cash.
I'm not vouching for everything RECO claims but I wouldn't have invested in the company had I not weighed the risks and rewards. If they are successful and correct in their early assessment, then the shares are NOW selling for a fraction of what they are worth. If they have modest success, I think the shares are fairly priced. Of course, this is my opinion only and NOT investment advice.
Time will tell us who is right about the future of RECO.