Post by
Dave4444 on Dec 23, 2020 1:00pm
Market Cap. ROE is $32m and RECO $240m, put two and two
together and you get an imbalance here as it relates to the Kovango basin. Yes, ROE also has Mexico, but just looking at Kovango Basin. RECO owns 100% of Namibia portion of the basin, however, the Botswana side of the basin, 2.4 million acres is now 50% owned by ROE. IF RECO hits oil in the basin, the RECO shares are expected to sky rocket, and guess which shares will also be heading up, those of ROE, as if the Namibia portion of the basin has oil and gas, it is a good guess that the same will apply to Botswana.
The thing is though, ROE is still dirt cheap.
Comment by
harlanshawk61 on Dec 23, 2020 4:36pm
recaf shareholder correcting post. ROE pd $100k down to recaf on OPTION to purchase 50% of Botswana 2.3 mill acres lease with $1 mill payment due by 12 months or $1.5 mill pay due by 18 months to recaf, if not pd no ownership. ROE is cash poor (owes $12 mill in royalties per 9.30 fin st) and probably not an ongoing business if recaf doesnt hit in Namibia.