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 > Positive effect of dilution

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Post by Rogerthat2on Feb 08, 2022 2:43pm

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Post# 34409689

Positive effect of dilution

A great transaction for RECO. They have issued 6.5M shares, approx 3% increase in the number of shares, but they have received $41.5M, over 100% increase in cash holdings, hopefully enough to last thru to production and revenue. The company's value from yesterday to today has not changed or dropped. The issuing of shares was offset by the influx of cash. Big vote of confidence by Cannacord.

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