Reconnaissance Africa(RECO)

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7 months 1 week ago #126690 by Gambler
Gambler replied the topic: Reconnaissance Africa(RECO)
There is also a good interview with Craig Steinke at oilprice.com

oilprice.com/Interviews/Is-This-The-Worl...h-Craig-Steinke.html

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7 months 1 week ago #126689 by RonS
RonS replied the topic: Reconnaissance Africa(RECO)
New report from Haywood with a $12.50 target

secureservercdn.net/198.71.233.72/jka.27...eport-Jun-3-2021.pdf

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7 months 1 week ago #126687 by lynnsa10
lynnsa10 replied the topic: Reconnaissance Africa(RECO)
Very good interview here with Bill Mooney, the president of Polaris Geo, the company charged with carrying out the 2d seismic imaging plans in what some are calling one of the most exciting oil plays on the planet. RECO

During the interview, we touch on a number of points including:

- Why he believes Kavango has incredible potential and is one of the most exciting oil and gas plays on the planet.
- Why he thinks the equipment recon Africa is using is unlikely to cause environmental harm, especially to elephants
- Why he believes the equipment they will be using in the Kavango is well suited for environmentally sensitive areas
- Why he believes the Kavango has numerous traps and conventional reservoirs
- How 2d seismic imaging works
- How 2d may show if there is oil in the ground

finance.yahoo.com/news/most-exciting-oil...-play-234500819.html

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7 months 2 weeks ago #126646 by RonS
RonS replied the topic: Reconnaissance Africa(RECO)
RECO is defineltly being heavily shorted. I check short volume on US side RECAF and short trades are half or more of the volume.

Today a lawsuit was filed. That is a sure sign, shorts get their buddy lawyers to file a suit to try and scare retail investors into selling. It is a classic play by the shorts.



NEW YORK, June 1, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Reconnaissance Energy Africa Ltd. ("Reconnaissance" or the "Company") (OTCMKTS: RECAF). Such investors are advised to contact Robert S. Willoughby at This email address is being protected from spambots. You need JavaScript enabled to view it. or 888-476-6529, ext. 7980.


The investigation concerns whether Reconnaissance and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On May 11, 2021, National Geographic published an article entitled "Oil company exploring in sensitive elephant habitat accused of ignoring community concerns: Namibians allege ReconAfrica disposed of wastewater unsafely, without permits, and ignored concerns about potential impact of oil drilling on water and wildlife." The article reported, among other things, that "ReconAfrica, a Canadian company exploring for oil and gas in Namibia upstream of a world-famous UNESCO World Heritage site that's home to elephants and other wildlife is disposing of wastewater without permits, according to a government minister." The article detailed that "[d]rilling for the first test well began in January, and waste fluids are being stored in what appears to be an unlined pond, where they could leach into the ground and contaminate the water supply in this desert region[,]" and that "Namibia's minister of agriculture, water, and land reform, the agency responsible for water-related permits, told National Geographic in a written statement that ReconAfrica does not yet have permits approved to extract water to use in its drilling operations nor to dispose of the waste water[.]"

On this news, ReconAfrica's stock price fell $0.50 per share, or 6.25%, to close at $7.50 per share on May 11, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .

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8 months 1 week ago #126550 by GoldnBoy
GoldnBoy replied the topic: Reconnaissance Africa(RECO)
Lot of interest in this company, financing at a great price.

2021-05-05 16:27 ET - News Release


Mr. Scot Evans reports

RECONAFRICA ANNOUNCES C$25 MILLION BOUGHT DEAL FINANCING

Reconnaissance Energy Africa Ltd. has entered into an agreement with Haywood Securities Inc., as underwriter, pursuant to which the underwriter has agreed to buy, on a bought deal basis, 2,632,000 units at a price of $9.50 per unit for gross proceeds of $25,004,000.

Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of $14 for a period of three years from the closing of the offering. The warrants will be subject to acceleration of the expiry date to a date 30 calendar days following notice to be provided to the holders of the warrants by the company in the event that the moving daily volume-weighted average trading price of the common shares on the TSX Venture Exchange over any period of 20 consecutive trading days equals or exceeds $20.

The company has granted the underwriter an option, exercisable at the offering price to be completed concurrently with the offering, to purchase up to an additional 15 per cent of the number of units issued pursuant to the offering to cover overallotments, if any.

The net proceeds from the offering will be used for seismic and drilling operations, as well as for working capital and general corporate purposes.

Closing of the offering is expected to occur on or about May 26, 2021, and is subject to the company receiving all necessary regulatory approvals, including, but not limited to, the acceptance of the exchange and the approval of applicable securities regulatory authorities.

The units will be offered by way of a short form prospectus in each of the provinces of Canada, excluding Quebec, and the units may also be offered by way of private placement in the United States.

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8 months 1 week ago #126542 by GoldnBoy
GoldnBoy replied the topic: Reconnaissance Africa(RECO)
Gambler, for sure new break out in progress

Attachments:

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8 months 2 weeks ago #126537 by Gambler
Gambler replied the topic: Reconnaissance Africa(RECO)
Looks like a break out on the chart here. The last gap up was around 150% so this move could put us over $20


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8 months 2 weeks ago #126536 by GoldnBoy
GoldnBoy replied the topic: Reconnaissance Africa(RECO)
It was just aired on CNN and I watched it. They really played the climate change angle, but apparently with an oust Trump agenda last year, CNN is switching focus to climate change and green energy.

I like the headlines and highlights saying the oil discovery could be worth $billions. To the moon RECO

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8 months 2 weeks ago #126535 by alexgreat
alexgreat replied the topic: Reconnaissance Africa(RECO)
Gambler, close enough we hit 9.99

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8 months 2 weeks ago #126534 by lynnsa10
lynnsa10 replied the topic: Reconnaissance Africa(RECO)
There was coverage on CNN today. It really played the climate change card, but any coverage is good coverage for a little unknown junior

us.cnn.com/2021/05/03/africa/namibia-oil...-intl-cmd/index.html

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8 months 2 weeks ago #126533 by Gambler
Gambler replied the topic: Reconnaissance Africa(RECO)
RECO up again today, last $9.72. $10 here we come

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8 months 3 weeks ago #126504 by DearJohn
DearJohn replied the topic: Reconnaissance Africa(RECO)
Haywood also put a report out after the news

reconafrica.com/wp-content/uploads/Haywo...port-Apr-15-2021.pdf

I am up about 5 times on the average of positions I bought :)

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