Reconnaissance Energy (Africa) Ltd V.RECO

Updated Investor Presentation

[vdgruck]

Investor Presentation on Reconafrica.com got updated: https://reconafrica.com/wp-content/uploads/ReconAfrica-Investor-Presentation.pdf

[therager]

All you need to know from updated investor deck: Catalyst-rich near term    First well confirmed active petroleum system, exceeding pre-drill expectations  Two more wells plus 450km 2D Seismic survey ongoing throughout 2021  Significant partnering

[teheran10]

I am just wondering which Major is talking with us now. I know we have brainstormed about it earlier this week but it's still interesting to know.  $150-$250

[YycBuddy]

Potential partner : Qatar Petroleum   GLTA

[GorgeousGeorge1]

If it's big, feasible and they can take out the whole thing in one transaction, the Chinese will definitely be interested. They already have a strong interest in Africa

[Goaweigh]

Notice that they've used the word " ongoing " when referring to both drilling and seismic which would imply that seismic is being conducted now, would it not ? If so that would be significant because, unless I'm wrong, it might allow them to change the location of 6-3 if they find a structure that is screaming out to them and they find it before being fully commited to 6-3

[hipfner]

The deadline for comments on the proposed 2D seismic is today (or yesterday). Irrelevant, they don't have their permit yet. The fine print on the presentation also references potential investors, implying share issuance. Could be boiler-plate. Hopefully. I think they've got enough cash to drill five or six wells.

[investor55x]

Yes, that's my only concern: that they will dilute well beyond 200 million shares. Because many very good companies with good assets became less attractive due to the subsequent strong dilution, because after a discovery, shareholder value was no longer so important for these companies. I therefore hope that RECO will do better in this regard, e.g. through farmouts or JV. Shareholder value is

[headtotoeinthe6]

With the planned acquisition of ROE, won’t there only be about 170,000,000 shares? Or does your mentioning 200 million also account for the Namibian and Botswana governments topping up their respective stakes in the company?

[Fredo51545]

Seismic is not underway yet.