Reconnaissance Energy (Africa) Ltd V.RECO

Next major NR?

[Buyhigheatchips]

What will be the next major NR regarding drill results? Do we wait for a final report on the well or will there be interim reports of one kind or another?

[C6J6Dub6U]

wait and see.... but like I say. If there's anything showing in the drilling the secret won't be well kept and we will probably know before the PR I believe

[Chas15]

If there's a major finding they will have to release news so the market can have the same opportunity as insiders. I reckon it won't be tight lipped over there. I can't imagine the venture would let it get over $10 without some sort of news release from the company either stating major findings or no material change. 

[Seraphim1]

  'The company stated earlier that they will not release any news until all 3 holes are complete. They are working under the laws of the jurisdiction where they are drilling and apparently they need not release any material news.

[uptherecazaly]

True I saw that as well , so thinking results in may or there abouts, wondering if it worth topping up on more shares, as looks promising , any thoughts off what share price could be if it a bonanza just curious as to what people think or estimate if they strike it rich, I see enough money to cover all drilling etc , so no capital raise in distant future

[Seraphim1]

  there are too many if's. But should the whole basin prove to be a bonanza, sky is the limit. Anyone with 10k shares will be a multi millionaire providing the company doesn't sell out

[farml1234]

Re:::::Anyone with 10k shares will be a multi millionaire providing the company doesn't sell out !!! Anyone that thinks the chiefs will sell the company cheap has to believe in the Easter Bunny !! We hit crude this will make billionairs and alot of millionaires !!! I have a load of ROE / RNSFF 

[Seraphim1]

  Unfortunately the sale of the company doesn't only depend on the chiefs but but a collective shareholder vote. 

[Chas15]

I understand that, I understand the jurisdiction where they are drilling as well. They however must follow the rules of the exchange which they are trading on. Do you think they are going to let this run to double digits in a month from $2? I don't but I hope they do, I'm not selling till triple digits anyways. 

[Seraphim1]

  I'm only saying what the company stated...."no NR till all 3 holes are completed". I'm not sure who's laws they must abide by. It would seem though, that if you want to work in a foreign country, you must follow their laws not Canadian ones

[Chas15]

Yes, so like I said in my original message - they'd release a news release claiming "No Material Change" in that case. Working in a foreign country has literally nothing to do with what I'm saying. I don't understand what is so difficult to comprehend, as it happens frequently. Regardless of where a company handles their business, if there is a large increase in SP then the

[Seraphim1]

  true, except that if the stock is halted, and there is a material change the company has 2 options. Release the material change or to stay halted till the 3rd hole is done. They will never say "no material Change" if there is, as that would leave them open to lawsuits.

[Chas15]

I see what you're saying. Ya I guess that would be their call. I don't see why they'd wait if there is good news, but up to them.