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 > InterOil - Historic Buyout Without Reserves

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Comment by SirRichard1987on Sep 27, 2021 3:15pm

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Post# 33925149

RE:InterOil - Historic Buyout Without Reserves

Any buyout would have to be priced multiples higher than current SP.
Consider May's 4,358,040 units sold at C$9.50 (raising C$41.4M cash).
Consider June's 2,179,020 warrants issued @ C$14 strike price (add cost to strike for their breakeven).
Consider July's Eskandar Maleki termination agreement for 3M combined warrants & stock options.
Consider this month's John Dalton 100,000 warrants marketing incentivizion at SP C$6.23.
Besides retail investors, all these parties, plus founder Craig Steinke, plus all directors would have to satiated. Namibian Gov't, too.

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