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 > Fish Rots from the Head

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Post by Oregonduck on Feb 22, 2022 11:11am

Fish Rots from the Head

The "fish gate" bribery totaling over $500 million over time by Namibian officials, including allegedly the former PM, was unlawful under the Foreign Corrupt Practices Act.

As I also stated beforehand, the sale of 5 percent in the petroleum licence for $2 million cash and 5 million shares "don't make no sense." Very suspicious.

https://www.namibian.com.na/110207/read/Namcor-defends-ReconAfricas-95pct-EPL-stake

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Comment by Luckboxx on Feb 22, 2022 1:04pm

Lol. They only quote known enviros.....buddies of yours?

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Comment by Wynjoe on Feb 22, 2022 1:13pm

Do you think this recent drop in s/p is due recos extreme over valuation? (having little in guaranteed assets),or do you think the CLASS ACTION will weigh on investors sentiment until settled?CLASS ACTION is not good hanging over a company.Personally I believe it may be the way wells were drilled and analyzed. I still wonder if this bought deal will finalize,i have witnessed companies before that ...more

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