Reconnaissance Energy (Africa) Ltd V.RECO

IR

[Angus66]

Has anyone contacted the IR department with Recon in the past. Just wondering to see if it is a waste of time or not. 
TIA

[Yo_Dog]

I have, quite a few times. Maybe we all need to start calling and emailing  I am wondering what the tight hole status means for each and all the wells. I also scanned the Namibian oil and gas government page, but couldn't find anything.  I have a colleague who runs a public company. I'm going to track that person down to see if they know anything about the regulatory

[jimgeorge]

See my previous posts on Material Change Reports. The exchanges don't have specific rules about well status, etc.  The rules pertain to any material change, which could be a successful well or a failure, if the disclosure of the well results would reasonably be expected to have a material effect on the share price, either up or down.

[Yo_Dog]

JIm if you watch the video from the conference there is reference to it being tight, not by Recon, but by the Namibian government. So, what we need to find out is; 1. how long is the tight status according to the gov 2.. what are the disclosure rules in such a case 3. what are the disclosure requirements on a company when in such a case

[jimgeorge]

If the well results can be considered material and Recon wants to keep it tight, then Recon would have to discuss their reasons for keeping it tight with Market Surveillance and get their approval to keep it tight.  Recon and Market Surveillance would come up with a timeline for releasing the news, Market Surveillance will always try to keep the "tight" status as brief as possible

[pacer001]

Jimmy, as to your statement "Recon would have to discuss their reasons for keeping it tight with Market Surveillance and get their approval to keep it tight."  this is hogwash.  The "market surveillance" folks are just that "surveillance" folks. In short they look but don't touch. They are NOT regulators like the Securities and Exhance Commission in the

[jimgeorge]

It's not hogwash.  Been there, done that.  In one case we drilled into a land sale, the TSX folks agreed we would keep the well results tite til 48 hours after the sale.  Very common practice in Canada.