Third Try a Charm??!! Exxon and partners spent $100 million for each well drilled offshore Guyana in the upper Cretaceous with stratigraphic trap. All 3 wells were non-commercial. They announced the results forthwith after each well.
The Class Action lawyers have a low bar to win their securities lawsuit for fraud and stock hype to induce investors to buy the shares while insiders were dumping.
From 2010 to 2021, only 20 percent of securities class action lawsuits filed were certified by the courts. Around 60 percent of those lawsuits were successfully dismissed under motions by the courts. Rosen Firm was able to get certification and defeated Reco's motion to dismiss in Dec 2021.
Reco must provide proof that they have 120 bbl of Oil in Place in Kavango, and 6-2 and 6-1 wells data and their promise that commerciality is "bullet-proof" by year-end. Good luck.
This is a penny stock from Hell.