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Not sure many people are selling. Looks manipulated / shorting to me. Evidence is is it only takes a few days to recover most of the drop. The recent climb above $4.50 USD showed that. Rumor is big news is coming before Oct 5th, potentially next week. If that is true, you will be shocked how fast this will shoot up.
You don’t open your data room and then schedule yourself to talk at one of the largest African conferences on oil and gas if you have a dry hole.
Patience
Uh, if you really are in oil & gas you may want to look for a new industry to work in, because you don’t know what you are talking about. Their progress is right on track with the industry and their results are even better.
Not sure they are done yet, but if not, they should be close. They did talk about going back over some areas of interest. (Which is good news - already rumor of potential traps found).
Either way, they have a “time to analyze the data” buffer that puts any information on what they found quiet for another 3-4 weeks.
End of October is when they said they would be “done”. Of course, they could release information earlier.
Not the same thing.
5 zones without the hole drilled (think layers) doesn’t equal identified traps (locations to drill new wells targeting where one or more of the zones lead to)
Rumor of 2 traps already identified!
Agree with this, and inflation will only exacerbate this. Projections of oil going up in price will only increase the future worth of the company, which the share price should reflect.
Goldman Sachs presentation - transcript:
https://cdn.discordapp.com/attachments/865679362828533820/887529730650296411/ScotEvans-GoldmanSachsWebinar-091421_-_transcript.pdf
That is the dumbest statement. They have exceeded expectations and are moving to the exploration phase with a ton evidence that this will be a huge success, faster than any oil company before them.
Why is the share price down? Hedge funds shorting and stupid people putting in stop losses. This thing is a giant cooled spring as the short pressure has to go away eventually. Longs are still adding!
We have Oil Mr President
He added that he has no doubt that the company would not harm the environment because it is Canadian. “But we allowed the noise,”Geingob noted. Meanwhile the company’s founder informed the president that oil has been found but the commerciality of the oil is yet to be determined.
— The Namibian (@TheNamibian) August 10, 2021
Guess many of those “knowledgeable” experts on Reddit were really full of it after all like I said.
Geo (add his many aliases) has been anti Recon for months and has been proven wrong again. His first contention is that they would only find gas.
https://oilprice.com/Energy/Crude-Oil/Update-On-The-Worlds-Most-Exciting-Oil-Play-Interview-With-Scot-Evans.html
This is a perfect time to buy, easy 2-4 bagger by Christmas.
From a Geo expert on Discord:
“Regarding the outputs of an online, mud-logging chromatograph:
C1 stands for methane, C2 for ethane, and so on (number of carbon atoms in the molecules detected by the chromatograph). Many of these instruments do not even pick the longer chain (C4+) molecules, because their main purpose isn't accurate measurement, but operational safety (hints at gas kicks).
Contrary to some people's belief, these devices are set up to provide a quick screening of the short-chained alkanes (mostly methane, but also ethane and a few larger C-H compounds) to warn operations of any gas kicks. Those systems were never designed to do any accurate, in-situ measurements of HCs at depth. How could they, being placed at the mud return from thousands of metres of depth and with lots of variables that may distort the measurements, like mud weight of efficiency of the mud cake?
I've been drilling through several (marine and non-marine, oil-prone, immature to mature) source rocks, where not even C2 picked up beyond the levels documented by Horizon. One should not mix these up with what you would encounter when drilling into a HC-filled trap.”
I will stick with the Geo experts on the two Discord servers that say the results are good.
The problem with some of these “experts” on Yahoo or Reddit is they are extrapolating from the mud logs, which you can’t do. They are evaluating the data as if it is core data, which we don’t have.
Bottom line is that Core Labs along with Recon Africa say this is good news and it confirms a conventional system (core labs uses the term “reservoir”).
2D is currently being used to find the best location for a production well, which they will then flow test. Don’t want to be out when this happens.
Impatient, ignorant investors and short sellers. But no worries, once the flow test results come out later this year these shenanigans will be history. This is a game of patience, nothing has changed.
Your #5 point is misleading, price per share would obviously play a part in a buyout, but the amount of oil they find will really be what is being bought, and if they find what they think is there, the share price will be many multiples of $20.
2D approval approved
How so? Are you saying the Viceroy group has inside information?
Not really, just profit taking / consolidation after a healthy run with added pressure from shorters taking advantage of the situation
Yeah, complete creep. Fraudulent Liar he is! Almost like he doesn’t care if comes across credible. I suspect he is just a paid shill of whoever is really behind the short attacks.
Think it maybe more the 2D seismic delay. But fundamentally nothing changed, just people without patience and stupid people putting in stop losses that shorts took advantage of.
Too many people lack crucial
thinking skills. The article is bullshit on so many levels.
Excellent article with one glaring fault, which negates the thesis put forth, marine geology confirmed, article only compares terrestrial.
Not sure it is “high” risk anymore. Proven petroleum system, likelihood of not being able to commercialize somewhere in at least 1 of the 5 sub basins very low.
Also, high reward portion only being a multi-bagger is an understatement.
Big nothing burger. They waited until a lull in positive announcements, but pure BS. There were no grains fields, the farmer doesn’t own the land, and the government run company that provides the manpower is listed as a co-defendent with RECAF. The Farmer just pissed off his own government.
Haywood bought $25M worth of newly issued stock, super bullish! This like a hedge fund insider YOLOing.
That is how the cards are setting up, China has tentacles all over Africa.
I wish everyone the best, decided to get off the bus today, gifted 1M cheap shares to someone(s), hope it all works out for everyone.
For those that sold today, I highly recommend RECAF, largest oil discovery in decades.
Ciao
For those getting out Monday, I recommend RECAF as your best chance to regain your losses.
In the same boat.
Good but out of date, that was before they found oil, so the statement in the article that it is an all or nothing play is no longer correct. It is now an all or something play lol.
With the volume we have been seeing we are lucky it is even trading lol
Trending on Stocktwits, Top 5. Hot will be an understatement when this thing is done, years from now.
This is a life changer for everyone in Namibia.
Rocket gifs not sufficient!
WINDHOEK, Namibia and VANCOUVER, BC, April 15, 2021 /CNW/ - Ministry of Mines and Energy ("MME") and Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) are pleased to announce preliminary analysis of the data from the 6-2 well, the first of a three well drilling program, provides clear evidence of a working conventional petroleum system in the Kavango Basin.
The fact this swings so much with so little volume makes your statement moot. Basically negligible volume at low pps.
Not sure how that is possible. No one in the “bush” would know anything relevant.
They wouldn’t know the geological results from the first hole, only someone in the lab would know.
No oil in well? Not bad news, not drilling for oil.
Well being capped and sealed? Incorrect, only being capped.
2nd well location based of bad news? Incorrect, location was selected early into drilling of first hole, before results were available.
No 3rd well? Incorrect, moving to second now.
Government opposes? Incorrect, government very much in favor.
What would they possibly know?
Most feel this way, yes