Reconnaissance Energy (Africa) Ltd V.RECO

RECO HAS LOST $500 MILLION IN MKT CAP SINCE MERGER ANNOUNCED

[veryfishy]

The rubber stamping for Mr Steinke of  an RECO-ROE merger  has cost shareholders $500 million since its high of $10.20 after the announcemnet of a  hydrocarbons system in Namibia. That is  a half billion dollars in 3 days. Not a single RECO director stood up for the minority shareholders. This disgrace means that the RECO board has lost all  future credibilty. And that board included key RECO management. A half billion dollars goes up in smoke. Very sad. Common shareholders who choose to ignore these  facts now shall in time realize how outrageous the situation is. It would be a farce were there no so many investors who trusted the company who have been part of a $500 million loss in value in their shares.

[GorgeousGeorge1]

Instead of using the 52 week high you should use VWAP, it would be a much more accurate representation of perceived worth, that's if you're interested in accuracy of course...

[veryfishy]

The investor who paid $10.20  does not see it that way. The weighed average is a fool's errand - like saying for a vacation plannig that the average temperature  in San Francisco is 59 F  -- when in mid-August  to mid October   it is hot and sunny but foggy for the most of the time outside those months.  

[SprengoM]

You reason in very strange ways. Investors that bought at 10.20CAD were not "skrewed" by management but rather by their own greed. They probably were trying to make a quick buck on the enormous volatility in small-cap stocks during price discovery on trading days after news is released. Some win and some lose, but those that invest were already in at or below 4CAD after thorough DD or

[veryfishy]

De-risked project you say> Really? ... you mean after what RECO directors have done with ROE you actually believe a word of any RECO press release. The more I look at the dots the more I see a Bre-X.

[peterj99]

If your boss ever finds out what you do on his time, he will tell you to clean out your cubicle and do your bashing on the unemployment line. just curious: are you a fish or a fishette?

[hydrocarbss]

just curious: are you a fish or a fishette? Think it bent over once and took a sniff.  And thus was borne the legend of veryfishy

[veryfishy]

What a queer thing to say.

[hipfner]

The proposed buyout of ROE stinks. RECO should never have gifted ROE the Botswana option in the first place. Regardless, it's a good idea to buy it back. But buying the whole Mexican screw-up and thereby providing great bonuses to ROE mgmt., while taking on undisclosed liabilities is just bad business. RECO is not BRE-X. But I'm not happy. I own RECO shares.

[hydrocarbss]

"But I'm not happy." Well boo hoo. Have you actually put one cent into the operational running of RECO?

[Ebenizer3]

truly amazing no one complained about this transaction when roe paid the $100k for botswana. And roe at anytime could sale that option for any price to any suitor. Everyone had a chance to buy roe at around 0.04 or .05. for me I am up a mealsey 600% lol. When is it illegal for someone to profit from there hard work. The fact that reco bought the 50% back is a bullish sign before the nr bout a

[doggiestyle]

Does anyone else feel like this stock is not getting enough recognition for the exciting and promising results from the first well and from protecting their intersts in Botswana with the ROE merger? It traded consistanlty between 3 and 4 dollars on nothing but  Aerial Mag and now that they have proved it is there it has only doubled??    I have no way to know what the Market cap

[headtotoeinthe6]

To the best of my understanding, and as far as the RECO ticker is concerned (in Canada), many money managers can’t touch RECO simply because it’s traded on TSX Venture Exchange.  I was wondering the other day if management have any incentive to get RECO and RECAF listed on the Toronto Stock exchange in Canada, or NYSE in the US, prior to further discovery being made and data analyzed about

[GorgeousGeorge1]

Yes it's unfortunate that some were caught out with the exuberance, but anyone who paid above $9 is in a minority, look at the volume traded in that range. You could however argue that a $1.5B market cap is not unreasonable. Hopefully with a few more successful drills we trade well north of $10. Time will tell

[GorgeousGeorge1]

And no, VWAP is not a fools errand, it's a great indicator of significant price points