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 > RECO - Giant in the making on the way to $20

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Comment by hydrocarbsson Jul 16, 2021 9:34am

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Post# 33558540

RE:RECO - Giant in the making on the way to $20

Agree, but RECO/RECAF as a TSXV/OTC traded company, institutions do not buy, really cannot buy shares of companies traded on those exchanges.

The minimal listing requirements for companies to trade on those exchanges do not provide the fiduciary requirements needed for funds and institutions to buy.

Fintel reports all of 41,000 shares owned by funds.

With the ownership overwhelmingly retail, it is the playground for shorts.

But this too shall pass.

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