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 > Todays Selling is Anson Funds

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Comment by Bpultraon Aug 05, 2021 12:35pm

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Post# 33655220

RE:RE:Todays Selling is Anson Funds

I think this short sellng story/excuse is well over done.. all rumors IMO
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NFKRS17 wrote:
If that is true, they are so screwed.

To cover 3 million shares, you would need about 5x that many shares to trade in the market (assuming you can even manage to buy at 20% of volume). So if they are

Year to date, RECO has traded about 1.7 million shares/day. So they are looking at trying to cover 3 million shares into a rising market over 9 long and miserable trading days. Of course once the market figures out there is a desperate buyer, the sharks will circle around Anson and the offers will start vanishing.

FWIW, the warrants are trading at $3.75...which implies a future price of $17.75. Yeah...that is where the last bit of buying to cover for Anson will come in.