The press release style and disguised pumping - yes I have seen in many biotechs. So I agree on that point.
I have been in some biotech for 5+ years - then I realized my mistake - staying that long in small biotech was wrong investment strategy - when you get signals like these pumping PR - time to move on. Long term is good for large companies with good record.
My time horizon for Recon is possibly 12 months from now. However I expect decision results- direction in 3 months.
If the 2D results are good, the big oil will read them and go for partnership - if partnership happens we will get SP jump.
if company says 2D results are good but no partnership happens then the results are not that good and we have to wait for next well drilling results which will take us into Q2-2022 and there may be another well.
So in my view - we should have clear picture by end of Q1-2022 on whether staying in this stock makes any sense
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