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Environmentalists and short sellers have continued their criticism of ReconAfrica, with the share price declining in the last two weeks.
) announced early findings from the first of their initial 3-well drill program in Namibia’s 6.3-million-acre Kavango Basin. It came as a surprise to many of us: Results indicated signs of a working petroleum system after only the first test drill. On June 3rd, investors got another surprise when RECO announced further indication of a working petroleum system in the shallow section of its second well. Now, we’re waiting for an announcement about the completion of the second drill to 12,500 feet, which we think should be any day now. Previous projections have compared the possible nu...
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Share: VANCOUVER, BC, June 28, 2021 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV:RECO) (OTCQX:RECAF) (Frankfurt: 0XD) provides the real facts in response to falsehoods and distortions from a recent short seller's report. Short Seller's False Claims about ReconAfrica The short seller report published on June 24, 2021 which falsely claims that no petroleum exists in the Kavango Basin completely ignores prominent geoscientists with decades of international experience, who have all verified that ReconAfrica's data clearly confirms a working petroleum system. ...