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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  V.RECO.WT | RECAF

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 Plus50on Jul 17, 2024 1:36pm
466 Views
Post# 36136953

news

newsOk why does the market dislike the news. Trading below offer price??? Is it because they gave up 20%. When i mentioned a possible JV on the board i was told probably wont happen. I tended to agree with that because why would a company JV with a company that hasnt found anything yet. Well hear we are with a company that is not a nickel and dime outfit ( that i can see) that is working near by. But yet we are selling off at over 2 million shares traded. I guess someone is buying those shares.So hard to understand the market. I dont understand the shorting thought in this situation.
Maybe it will recover. 
I have owned this stock since before it went to $ 12-13 just wasnt smart enough to sell then.
Any thoughts are wellcome. 
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