Bullboard - Stock Discussion Forum Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s): RECAF | V.RECO.WT | RCNWF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest... see more

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TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > Very BULLISH sign: Haywood clients want to be part of RECO

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Post by Hiddensecrets on May 05, 2021 6:16pm

Very BULLISH sign: Haywood clients want to be part of RECO

This bought deal is extremely BULLISH sign for RECO.

It means that Hayword clients want it, it also means that they believe that hole #2 will be a success.

Bought deal was done just in time before it becomes insider information as they drill hole #2.

I believe that institutional demand is going to heat up as we move higher.

And the discount given to Haywood is minimal, almost at the price in which shares were trading. RECO rewarded Haywood by giving them a bought deal as they did not really need the funds.

This puts RECO in an even more powerful negotiating position with major oil companies.

And once one big institutional firms buys, watch as the rest will follow their course.

Dilution was very minimal at 1.6% in return for lots of cash.

mpo

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