Reconnaissance Energy (Africa) Ltd V.RECO

No Oil, No Problem

[Oregonduck]

Reco has no oil or revenue but sporting a stock valuation of $1 billion. Preposterous.

They just announced they're buying tin cans or containers to store the oil that has yet to be discovered. Maybe, they will next buy trucks to transport the oil by land, and oil tankers to ship the crude to Europe as their Mission Statement. These guys are world class promoters in the best of the VSE-style tradition.

As an e.g., Africa Oil (AOI) in 2012 discovered 1 billion bbl oil field in Kenya with their JV partner Tullow Oil. Total also later bought into the deal as a strategic partner. As a pilot project, they attempted to truck the oil from the field to the sea port totaling 200,000 bbl for sale. They stopped doing that after chewing up the dirt roads with their 300 trucks. Now 9 years into discovery, there is still no pipeline being built estimated to cost some $3.4 billion and another 3 more years to construct if money is found.

That is exactly the similar situation with the Uganda oil being brought to mkt by Total and Cnooc. A pipeline is still needed.Tullow first discovered the oil 15 yrs ago but squabbles with the Govt due to taxes and sold out to Total for $500 million this year.

Some dreamers here must like drinking Koolaid to think oil will flow in 2022.

[Bpultra]

when you get a sPAMER .. time to hit the ignorrrrr button.. now no more ducky duck

[Lund2007]

Wow...I did that 3 months ago. Mr. Duck is long gone.

[Bpultra]

------------------- yes usually I do not ignor anyone ... alwasy good to listen to both sides but the duck  has maybe been diving under water and without oxygen for a bit long he has gone whacky and as of late .. comments are not even close to be right .. and so yes its nice now