Reconnaissance Energy (Africa) Ltd V.RECO

Latest Financials are a Mug’s Game

[Oregonduck]

The merger of Renaissance Africa booked at over huge premium caused  around $260 million in deficits. The CO's net equity is only about $91 million against a mkt cap valuation of $1 billion. More than 40 million warrants @ $0.86 have been exercised or over $240 million dollars at
today's price. Dump, Dump, Dump. How did the Co incur losses of over $200 million from the merger and still owing millions to the royalty liabilities owed to the Mexican interests??

The Co has found no oil or potentially shale oil at Kavango that is non commercial. The Petroleum permit does not allow them to extract shale oil. 

A penny stock trying to be an oil producer.

[crude]

YOU ARE A NUT !!!!! - we still have operating wells in Mexico and the govt there ows the company MILLIONS

[TurnToTheRight]

@oregonduck - you really have no clue how oil and gas (usually legally referred to as petroleum natural gas - PNG) rights (lease) and licences work. The lease cannot differentiate between where PNG substances are produced from, they only dictate the formations from which production may occur. So your "no shale oil production allowed" statement is completely false and made up - prove me

[jimgeorge]

This might have given Ducky the idea that shale oil production isn't allowed in Namibia: "We can confirm that no licence to conduct fracking activities was granted to Reconnaissance Energy by the ministry, and no such licence is being contemplated," Shino said.

[pacer001]

You can't have fraking without oil! You just don't pump water into the ground and magically oil shoots out. And it is not the primary method to get oil, usually only after a field has been tapped by conventional means, and there is oil left in the rocks like in the Permian. And then it is still more an art than a science. This board is becoming a regular duck pond for quackers! Quack