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 > a new total

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Comment by cyrustgon Oct 15, 2022 12:42pm

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Post# 35026772

RE:RE:RE:a new total

Pacer- I also think it is only a couple of days to cover under the new rules.The 8 days ,I believe , is the number of theoretical days to close all the short positions based on the number of shorted shares and the trading volume that day . For example , if the trading volume on say Tuesday was around 800k and there were around 6.5 million shares shorted , then it would take about 8 days trading to get rid of all the shorts ( not counting the naked shorts that may or may not be out there ).
When the news hits and the shorts have to get out,they will all be trying to buy back shares when the market makers want shares and smell an opportunity and the price should appreciate ala Dry Ships a few years ago. Comments /Corrections JMHO
Ciao

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