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Reconnaissance Energy Africa Ltd. (RECAF)

Other OTC - Other OTC Delayed Price. Currency in USD
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4.5300-0.1700 (-3.62%)
At close: 3:59PM EDT
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  • F
    FYI, Steinke purchased 10,000 shares today. Sounds bullish to me.
  • S
    Did you see the Rosen Lawsuit? Claiming items that Recaf did not do?
  • m
    Mr Steinke has just purchased a further 10,000 shares at a cost of $57,100 dollars. Go RECON 😊
  • C
    Michael we didn’t drill deep enough to find source rock. Doesn’t mean it isn’t there.
  • S
    Anyone who got into this stock at approx 2CAD and did their DD then, will not give up their shares at this price because dimwits post on message boards trying to bash the company with no evidence. There have been big milestones for this company since I got in, and I am excited about the future. The day-to-day price action is just noise for long-term investors. The only noise you should be listening to is the news on the explorations progress. This stock does have its risks, but the upside is massive.

    When the shorts think they got a victory with a nice daily decrease with no news, I giggle. Do you think it even makes a smidge of difference to my overall gains? No.

    I suppose that's the benefit of getting in early, understanding what you are investing in and its risks. If this stock went to 0 tomorrow I would not have lost even 2% of my portfolio - since I made sure to cash in when it was above 10CAD. A small sell just to offset any future risks. It wasn't because I thought that was the top SP for this company. But it gave me peace of mind that I can just enjoy the ride without being concerned with short-term fluctuations.

    I share my own personal experience just to help anyone that got in after the price rocketed. Be ready for good news and even bad news. Only invest what you can afford to lose and protect your downside when you can. But never sell based on emotions or noise. Do not ask when the next big news is coming, you will drive yourself insane. When you buy your shares, you are investing in the companies potential success. Not the opinions or predictions of people you don't know or can't verify as credible.

    As someone that once held BTC when it was at 4GBP and sold for a quick double - I would rather see my shares be valued at 0 than give up this opportunity. Perhaps Lenin and the gang are right, we are being scammed! Or perhaps we are a small part of one of the last big oil discoveries in our lifetime. Either way, my remaining shares are staying with me.

    Seismic complete, JV's interested, proven samples, potentially being uplisted in the near future, and cooperation with the Nambian people (depending on the source you believe). All signs of a company making the right strides.

    No cause for concern yet. Worrying just ensures you'll suffer twice.
  • R
    RECO Investor
    Source Rock has been found in well 6-4 (Lenins’ Head)
  • R
    RECO Investor
    Halfway through the presentation and I’m upping my position another 3400 shares at 5.60 CAD
  • R
    Rob Rob
    Looking forward to Dr. Granath's comments later today. I doubt it will impact the stock price. It will affect my confidence and I hope in a positive way.
  • R
    RECO Investor
    All I can Say is this “Sell if you are blind and if you want money in 4 months stay long and keep acquiring shares at these low prices.” There is oil just need to pinpoint the traps and get a flow test.
  • R
    RECO Investor
    BEN is a FUD short
  • C
    Any help on finding site where Steinke purchased 10,000 shares
  • B
    Rosen is a paid hit lawyers for shorts. They have been saying they will sue many times in past it is all BS. They are just trying to scare investors into selling do not fall for their scam.
  • F
  • M
    As a non O&G person, I have to admit I'm finding some of these updates by the company and subsequent reactions to them on this board hard to digest / decipher. I was just after an honest / impartial assessment of where people think we are today, based on the information that has been made public, how people are interpreting that.

    Points of interest / highlights for me so far are as follows:
    1. We've had oil and gas shows in the first 2 wells
    2. The company have stated there is evidence of a working petroleum system
    3. Latest release references conventional reservoirs
    4. From Greg's article below, Jim Granath makes reference to 6-2 well showing evidence of 3 potential Karoo age reservoirs plus two possible carbonate reservoirs (deeper than Karoo level).
    5. The first two wells were never meant to find oil, as I understand it, they were about exploring the geology to determine what they might be working with
    6. Sounds like they didn't find source rock at 6-2, would they have expected to?

    So I'm a bit confused to be honest. Are the results to date not something we should be positive about? Given the size of the basin and the fact we've drilled 2 initial test wells and had the results so far, is that not good?

    There's a lot of comments about them not finding source rock, no evidence of Karoo source rock etc, which again I'm not sure I understand whether that is a good or bad thing given where we are. Granath also said the below:

    "The potential Karoo reservoirs could be up to about 95 metres thick with “excellent” porosity, he said, adding that Kawe-2 “did not identify a source rock".

    We didn't expect shows".

    So apologies for the lengthy message but I'm just trying to understand where we are as a non O&G person. If they are saying we have conventional reservoirs, then does that not mean we have oil?

    I'm not quite sure what to make of the situation to date / where we are. It sounds like there are lots of reasons to be really positive but there's also a fair bit of negativity in some posts about the results so far.

    I'm long Reco and really hope this stock is going to deliver big time for all us longs and the people of Namibia and Botswana, so fingers crossed that we've got some great days / news to come 🤞🙏🤠
  • F
    News Flash! Rosen Law Firm out with another bogus class action 'lawsuit' against Recon.

    That tells us right there that hedge funds are still actively trying to bring this stock down. They always do this before company presentations or news releases. I wonder if good news is on the way?
  • B
    Feel free to write recaf investor relations with these questions. Instead of having some
    Guy with 7 handles talking to himself here. Be careful folks. You can also watch O&G videos on YouTube to learn about source rock and the process. These are all good questions. Your just asking the wrong people. I mean why would you even trust anyone in a public forum where you don’t know anyone and you know there’s a shorting firm out to destroy us. First rounds on me in Windhoek.
  • F
  • j
    ReconAfrica is uncovering what could be the last Large on shore oil play in decades. We have to this point proven a working (conventional) petroleum system , we have over (6-2) 600ft of oil shows in well #1 and over 1100ft of showings in well #2 . Now with the 450 kilometers of the seismic program complete and in the process of interpretation by 3rd party(s) we are 6-8 weeks from finding out what this first basin holds. The delay with the 3rd well should be viewed as a good sign as the science in the 1st 2 wells along with the seismic data will put them on the 1st Sweet Spot and next targeted drill location for what we are looking for and why we (longs and believers) are all HERE. Soon the world will know what we have , and what makes the Namibian Government along with our All Star ⭐️ Team of Expert RA Management

  • P
    Ok guys this false lawsuit needs a response, no information not ready for prime time is needed here. Just a statement calling this frivolous paid program totally fake and if you want to know the real status standby for our future updates. Nothing more or less.