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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 Oldschool2022on Sep 12, 2022 9:34pm
360 Views
Post# 34958358

Possible short squeeze this week!

Possible short squeeze this week!

It looks like the perfect storm for a short squeeze. Shares are up 60% in the last 8 trading days and 10.3 % today. With over 1 million shares short (over $5 million $) they will have to soon cover their shorts and will put buying pressure to the upside. News will probably be the catalyst. With low daily volume and potentially 1 million shares being chased we should soon break to new year highs. I think we will consolidate in the $5.90-$6 range before tackling the upper end of the chart. The chart looks awesome and it looks like the train is about to leave the station. Cheers!!

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