Reconnaissance Energy (Africa) Ltd V.RECO

As much as I hate the buyout of ROE

[hipfner]

and the massive enrichment of Steinke as a buyproduct, I bought more shares of RECO.

It's pretty clear that well 1 was successful. The team has great confidence that even better results would be available in Botswana, which they will set to drill after the first 3 in Namibia.

Sure, they could have waited and let the ROE farm-in option expire. But they were worried that someone else would buy it from ROE and then they'd have to share 1/2 the Botswana side of the basin.

Too bad Reco gets stuck with ROE mess. It'll take a lot of time and effort to shut it down. We don't know what that will cost. *sigh*

On the good side, ROE had a lot of good people when they started (I owned shares for the first couple of years). Hopefully a few of them are excited about working in Africa now.

[SirRichard1987]

It's better to have a small piece of a big pie than a big piece of a small pie. Think of the ROE acquisition & dilution in that frame of mind & you'll appreciate this move.

[petesfreak15]

As well. In the long run, you want to control 100%  No other company would look at partnering or buying out RECO in future if they had a another company tied to it.  they control 100%, they call all the shots.  Small dilution for 50%

[hydrocarbss]

Were you traveling around Africa and other global areas looking for investment opportunities? Have you offered the common guy the opportunity to profit off your investments? Have you done anything that could enrich others beyond almost everyone else on this planet? Probably not. If Stienke hadn't done all that, you would not have this vehicle to make money beyond what most even dream of