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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

Post by Oregonduckon Jul 25, 2022 11:07pm
244 Views
Post# 34849995

For those novice investors

For those novice investors All those disparate claims have been consolidated into one Class Action lawsuit.

Rosen and Co has been granted carriage for the lawsuit and was certified by the Judge at the Eastern District Court NY.

The Co had asked for summarily dismissal in Dec 2021, and was turned down.

Following the money:

2019-09-05 Steinke held 10,251.964 shares
2022-01-24 Steinke held    4,513,687 shares
on top of that he was awarded 3,000,000 options plus warrants. You do the Math !! Dump, Dump, Dump.

Prior to jumping ship and resigning:

Dr. Granath exercised 666,000 options with a deemed cost of $0.25.

Jay Park owned 3,000,000 shares

Messrs Granath and Park are no longer considered insiders. They likely have dumped their holdings without having to file an Insider Report.
















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