Reconnaissance Energy (Africa) Ltd V.RECO

Cutting my position

[g197040]

Been long since about .50 but this contant barrage of negative opinions and articles has me worried.  In today's climate, they're taking on the environmentals and the climate change groups.  Even though I think they may have found billions of barrells, I'm not sure they'll every be able to produce it.   They sure won't be able to produce it conventially   I may get back in and accpet that I'll have given up some money in the process.   But at this point, I'm taking some profits.

[Ebenizer3]

Congrats, but with all that cushion, trust me u will regret it. On the first run up I took my cost out. today those shares would have been worth $400k. Ouch!!!! But hey still up 700% on Roth and 1100% on small regular. Good luck to you

[g197040]

It's a cushion.   But I don't really look at it like that.   At this point, that's my money.  If it drops, I've lost that money.  Regardless of what my initial cost was.    I'll take the 20x on half my shares and see what happens with the rest.   I defintiely think it has a high possibility (and maybe even probability) of

[Ebenizer3]

[Ebenizer3]

My bad, yeah totally agree with you, and again congratulations nothing like money in the bank, and being able to sleep all night.

[Moneycat]

Taking some profit is never a bad thing. Everyone has to do what is right for them.  And you still have some so its a win win.  Congrats

[InvrsContrarian]

Ain't no problem with taking profits, and definitely no problem in recouping original investment. What ifs and shouldas and couldas only lead to regret. What's that saying?... almost only counts in horseshoes and pregranacies? As in I almost doubled my money. GLTA. Have a good weekend it's gonna be a hot one!

[Bpultra]

============ Good for you....everyone's stress level is different ... everyones montary position is different .. and everyones risk appetite is different .. this is what makes a market .. sellers and buyers.... so you just do what id right for you... the rest is just noise ... remember you never go broke making a profit ... GLTA

[doggiestyle]

Remember that the shorts need to start buying back at some point fairly soon and that itself will drive the price back up. They will cover before any lab results are released unless they are suicidal or stupid (which they are not).  This is a good opportunity to either play the gap trade (or to pick up a few shares to hold long term) - I can't say that it won't go lower yet today

[Hiddensecrets]

Big MISTAKE as you decision is based on your emotions of fear and not on facts. How could you possibly justifying selling with these facts and, that July 2021 will bring in blockbuster news that will tie in these two holes creating a MONSTER OIL FIND. I really do not understand your logic, or lack of.  Facts:    Hole 6-2    660 feet of sweet oil and gas    

[g197040]

Not denying that the results haven't been positive.   Extremly postive.   But logging and coreing a well with good shows doesn't mean that a reservoir is productive.   The key will be the seismic tie in to confirm that it's a large contiguous reservoir.   Cores and logs tell you what's in the immediate area of the well.    We

[doggiestyle]

All true what you said - I don't doubt your intentions and everyone has their opinon on it. My point is that we are in the middle of an abvious  short attack and this not the time to be adding to the FUD. Your posting about it makes it look like you are one of them

[doggiestyle]

The only point I disagree with on is this.  Just becasue it will take years to produce this find at anywhere near capacity - that doesn't mean the stock price isn't going to massively respond way in advance of that. Stock price is a "prediction" of future cash flows and RA's strategy is to JV most of this and drive the stock price early. This fall will be peak time for

[g197040]

Agree 100%.    If they get anywhere near the point of production, the share price will be over $50.   Assuming everything is at they're hoping for and projected   And as the data (so far) suggests.    I'm just taking some profits knowing  that I may have end up having left money on the table.   

[doggiestyle]

Cool - i can respect that you are a reasonably conservative investor (its really just the posting in the middle of an attack that I had an issue with) - I still personally think its not good advice to sell until this short BS clears out of the market  (maybe as early as next week)

[g197040]

You may be right.   It wasn't my intent to add fuel to the fire.   I legit wanted to have a discussion about my concerns.    Not get into any kind of argument about my selling and why. I'm still long and will certainly come out better if it goes up. Good luck to us all.  

[Ebenizer3]

really, EF, Bakken and the wolfcamp/delaware basin all of them had to truck oil long distances before they built out the storage tanks and pipelines. In particular west Texas they couldn't find enough trucks to haul it , I does it sound profitable to haul from west Texas to san Antonio or to three rivers and than bobtail back to w.texas. but that's what they did .

[doggiestyle]

Comical that you post this "before" you are supposedly cutting your position.    Not sure why you think anyone on this board cares what you plan to do? The only reason for your post is to shrill for the shorts. 

[Zoolanders21]

I have learned over the years that if you hit a triple, best to take out your initial investment and ride with house money. I have lost a lot in the past not doing that when oil crashed a couple of times and holding some pot stocks too long. I took out 1/3 on the first run up at $8.50 but i have to admit that i do regret it on this one. i just have that feeling for some reason that this is going

[g197040]

I hear you.  And everyone will be different based on what they put in and what they're looking for.  When I bought this in 2020, I had just had a good hit on another trade.  I was willing to lose the whole investment on this or at least recongize the risk of that.   If I had just bought a few hundred or thousand shares, I'd be fine letting it play out.  

[Ebenizer3]

its obvious they don't know what the term "drilling blind" means. They didn't throw a dart at a map, they used an expensive tool, aero mag survey. " drilling blind" in the oil business means that they are losing drilling mug in the formation, meaning they don't have control of that well, not a good thing. If they claimed that, that would be concerning. Really

[doggiestyle]

I too have lost big when the price of oil crashed (after some big gains on the way up). But this is not that situation - the price of oil will flucuate with OPEC for the next 2 years but generally looks like it is more likely to remain strong.  This situation is very different - this is clear a short and distort campaign that is separting you from your money. I too doubted a short and

[g197040]

Fair enough.  I'm just putting my thoughts out there.  I thought that's what the forum is for. As to oil prices, I don't think they have much to do with RECAF's share price right now.    If they find what they're hoping to, the current share price will be a bargain even if oil drops to $30 per barrell.    Until they start producing, I

[teheran10]

No bro you are nagging now. If I sold my shares, I would bow out and sat thank you. Why this apologetic tirade about RECO?  thank you so much for being a part of this huge success so far and a Minstrous success in the near future. 

[g197040]

Dude...if my comments have any negative impact on price, 1) I'd be shocked and 2) you should thank me so you can buy some cheaper. In the end, they'll either produce oil or not.   All this stuff in the middle wont' matter excpet as to who has shares and who doesn't. If you believe they've found billions of barrells (which I think they probably have), then the shorts

[Luckboxx]

You sound like a short.  Why encourage people to sell by telling everyone you have weak hands? Just asking...

[Ebenizer3]

yeah thanks for the cheapies, finally getting some action.

[g197040]

Your'e upside down if you bought my shares amigo.

[Ebenizer3]

really dude my avg. Is $1.22 for crying out loud.

[TenneseeOil]

A Ten Cent Gap Down... with two hours to go bizarre... Stunningly bizarre... I realize it's not an actual Gap down but so strange none the less. It really shows how little liquidity is being represented here today. 

[Moneycat]

Dude...thats great that you sold but now you are just starting to sound like a douche !!!

[g197040]

I posted that after I cut my position.   I sold at an average of $10.06.   The only reason I posted was just to provide my thoughts and rationale.   Maybe most don't care what I do and that's fine.    I've done this for a long time and maybe someone gets something out of what I said.   As I said, I'm still long.  

[doggiestyle]

When I get out - (which won't be until after the JV discussions have occured) I won't post that I did in the middle of a highly coordinated short and distort attack. Especially if I'm still holding some. 

[g197040]

Honestly,  I posted that hoping to have an open discussion about the issues I brought up.   Mainly the push back from the green groups and the global momentum that's currently going in thier favor.   And secondly how likely can they recover this by conventional methods.   It wasn't intended to be about me defending my position about selling.  

[Shirs1]

One of the main reasons I'm investing in this stock is because oil demand will continue to make up a very significant if not predominant portion of the energy mix. This will be the case well into the second half of the century. Oil production and exploration in western nations is and will continue to be paired back. As such the last oil major production centers will be Africa, ME and Russia. I

[g197040]

That's a fair take.   Honestly, I invested in this stock because of the billion barrell upside and their leasehold position.  I didn't think once about oil prices.    Getting those reserves in a company at .50 per share was a no brainer.   Started off with a small position and as the news kept getting better, just added on.   Regardless if

[CammerRec]

[CammerRec]

Agree with your previous post shirs1.

[CoreyB]

If you don't want to get comments about your decision then why the hell would you even post about it in the first place?  Anonymous bullboard makes everyone keyboard warriors, expect the worst no matter what you post as there will be some clowns just sitting waiting to punk you on any type of post.

[teheran10]

Bye thanks for you 200 shares