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 > Do you want more shares

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Post by Moneycat on Jul 07, 2021 10:01am

Do you want more shares

if you own RECO currently...and want more shares . Sell your current RECO and buy ROE. As long as the deal goes through tomorrow you will end up with a net result of more shares based on current SP for both. I was able to pick up an extra 240 shares yesterday based on selling my 6000 reco shares. If you plan on staying in RECO for a while it is a no brainer IMO !! Good luck

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Comment by Zoolanders21 on Jul 07, 2021 10:24am

That arbitrage opportunity is prob also adding to the downward pressure on the SP. Friday will be the day we get a pop. No short would want to hold over the weekend IMO

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Comment by wpatrick530 on Jul 07, 2021 11:31am

Please Explain Moneycat?

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Comment by Moneycat on Jul 07, 2021 11:57am

Sure thing Using current prices of selling at 11.75 for Reco and buying Roe at .52. I am using current Bids and asks so the transaction will happen quick. 1000 shares of RECO sold would get you 11,750 dollars......that will buy you 22,596 roe shares. At a conversion of .046 shares you will end up with 1039 Reco shares after the deal is finalized ( which they ...more

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