Reconnaissance Energy (Africa) Ltd V.RECO

Would not be surprised

[sept2rembr]

With already one Bought Deal Financing 

Would not be surprised ----IF Another one is in the works if next well is proven 

10 to 15 mil  at a price of C$10.00 per Unit

any thoughts ?

[teheran10]

RECO would NEVER raise money below $20 on a similar hole.

[grenouille]

another bought deal?  to raise cash for expanded exploration program?  not impossible.  $C10.00 per unit?  way too low.  $C20, maybe.

[doggiestyle]

I don't think they need the cash for quite a while. I noticed that they are now budgeting $8 miillion per well for 4 to 6 whereas I seem to recall the first 3 where just over $4 million per well. I think they are being extremly conservative with the budget estimates and will end up having  extra cash from the $36 Million cash raise to last them into next year. Might need to spend more on

[doggiestyle]

I dont think they need the cash for quite a while. I noticed that they are now budgeting $8 miillion per well for 4 to 6 whereas I seem to recall the first 3 where just over $4 million per well. I think they are being extremly conservative with the budget estimates and will end up having@ extra cash from the $36 Million cash raise to last them into next year. Might need to spend more on dealing