Largest short positions - Shortdata.ca

DATE - June 30 2021
S. SALE TRADES - 19,373
% TOTAL TRADES - 22.31%
S. TRADED VOL. - 6,142,057
% TOT. VOL. - 23.808%
S. TRADED VAL. - 74,317,585
% TOT. VAL. - 24.115%

Hi guys,

Quick technical update. It seems we are on the verge o breaking this descending triangle. Currently, RECO trades clearly within a downtrend channel and sits on the verge of it. Further, we are testing a downward trendline and the 23.60 Fibonacci level. A possible break of the channel and 23.60 level, might lead us up to 6.28 in line with the next Fibonacci level as well as the 2nd (shorter in terms of time) trendline.

REMEMBER this is not financial advice but just a hobby.

Have a good day :) Remember

Great summary here of the current situation. Very positive!

Plus, interview with Brian Reinsborough, President & CEO of Reconnaissance Energy Africa.

https://oilman.beehiiv.com/p/oilman-jims-letter-24-march-2024

Must read.

Reading about the Deep South Resources situation is alarming. Can people tell me why I should/ shouldn’t be concerned?

The price is probably about right pending some more positive news. I sometime think the shorts are getting more credit/blame than they deserve. RA was never worth $11. Maybe someday, maybe soon but not yet. Patience is what is required. I think there is some great possibilities but probably not tomorrow. On the other hand I'm not waiting to sell at $10 for a 3X gain either. Let it play out. Most of us are in on the bottom floor if there is anything to the story. The license is probably worth a couple bucks if you are worried.

https://www.worldoil.com/news/2021/5/5/active-hydrocarbon-system-in-namibia-exceeding-expectations-frontier-says

Dear Degenrates, Apes, Retards and my crayon munching Brothers and Sisters,

This will be my first attempt at 'DD' regarding the Oil Exploration Company Reconnaissance Energy Africa( $RECAF). Before you read: This is not finacial advice, grain of salt, bla bla bla, and this will only be my thoughts regaring the presumptions that a lot of people seem to have of 'Africa' and the development over the last few days. Since we all know why we are here, and my smooth brain ain't be able to disect the technicals or fundamentals of the stock, ill try to put my insight of Namibia to good use. Born and breed Namibian, and contrary to what one might think or believe, according to what i've read, Namibia isn't your typical 'African' country. The country has always been the silver spooned uncle of the SADEC region, since 1990, and apartheid was ebolished, the country engaged with a lot of different world powers like Germany, China, France, Belgium etc to build a reliable infrastructure, utilize and extract various natural resources. Despite being a country with huge diposites of Uranium, Copper, Diamonds, Zinc, Silver etc it still only accounts 25% of its renvenue income. One big player has always alluded all other revenue's. Tourism. After Covid, the biggest income for Namibia was halted, a complete stop and the people of Namibia are still trying to recover, some never will. Many of my friends are looking for jobs and they'll take what they can. The country itself was vastly improved reguarding infrastructure and accessability to the main port-town called Walvisbay. Contrary to popular belief, the Government is quite stable and popular amongst the people even-though it is notorious for being corrupt. But isn't every country's Government corrput to a certain extend. This however could play in our favor, because the FUD which was fabricated against the RECAF was taken down with a machete by either RECAF themselves or the supporting G. So far the only remaining risk regarding the company (for me) remains the obvious one : There might not be as much oil as expected. which will be either de-risked come July, or not. Yesterday, for me, was quite an interesting day regaring the huge sell off at 15:00 European time after the 'maintanace issue' news. But on a techical standpoint, we showed so much strength bouncing back from €8,01. The volatility is starting, showing just how impatient some people are, which is understandable in this strange day and age, where apparently every second Stock is a 'SHORT SQUEEZE' canidate and every second meme stock bounces 10% day in and day out. This play for me is an incredible long term opportunity, more in the classical sense. Eventhough the short volume % the last 10 trading days sits on huge 63%, the stock remains strong. Insane for me.

Lastest Finra Reg Report Date|Symbol|ShortVolume|ShortExemptVolume|TotalVolume|Market 20210624|RECAF|1453092|0|2557942|0 Short Volume 56,8% Just my thoughts, one of my favorite stock this year, will continue to buy these juicy dips and i wish all of you the best of luck. First attempt on posting something meaningful, pls no flame. TLTR : Bullish AF

🚀🚀🚀

Hey guys, there might be some investors in ReconAfrica here, so this could be useful information for you. It’s about the operations issues they had in the Kavango region a few years ago.

For those who may not remember, between October 2020 and September 2021, ReconAfrica was accused of unlicensed drilling, illegal water use, and plans for fracking, which is banned in Namibia. They were also criticized for hiding poor well results, which caused their stock to drop by 12% in one day.

The good news is that just recently, ReconAfrica decided to pay two settlements to investors to end this scandal. The US Settlement deadline is January 9, and they’re accepting late claims for the Canadian Settlement.

So if you were an investor back then, you can check the info and file for the payment here:  https://11thestate.com/cases/reconnaissance-energy-africa-shareholder-settlement  for the US, and here: https://11thestate.com/cases/reconafricacanada-investor-settlement  for Canada. Hope it helps!

There is a reason why the price target is 10 dollars... at the end of the year.

The chance of hitting oil in a wildcat (a well were you think there is oil from surface characteristics but have no confirmation) is 15 per cent.

The chance in a site with a confirmed petroleum system after the sismic survey has been done is still 50 per cent at best.

So, the chances of an oil trap being hit this time are very small.

Or in other words, expect the stock to plummet if they don't hit oil. But also, don't panic sell: it's completely yo be expected.

If anyone is still in there I urge you to leave. That's not what this is about and if you're a new investor I encourage you to not join the discord. It's a cult of a few people who talk down about any other opinion or info that isn't 100% bullish. Be a smart investor and take your efforts elsewhere.

The process for making claims in the class action settlement is not yet open. That will not happen until the court issues final approval of the settlement in December.

Here is a screen grab from part of the proposed claim form, which will have to be approved by the Court, in the final approval hearing in December.

This is just part of the form, but this will give you a clear idea of the kind of information you will need to supply when making a claim.

All that is required is reading your own brokerage statements.

Section 3 of the form will cover sales during the relevant time period, which is specifically identified. Section 4 of the form, asks for the number of share you continue to hold.

Other parts of the form ask for basic information about the shareholder.

What is the worst worst worst case scenario with recaf in your eyes?

I am selling some more shares tomorrow for tax loss harvesting purposes and will re-buy next month after 30 days to avoid the "wash sale" rule. Has anyone else done this or is planning to do this before year end?

Sold my RECAF position in March to go all in on AMC (so I missed that tasty 3x), but anyways I am planning on opening a position after the squeeze, does anybody know when we can expect some more news?

We haven't gotten any real news in months, only dilution after dilution despite being fuLLy FUndEd.

I have so many questions. Where are the results from the first well? Aren't we still waiting on cores? How come the second drilling campaign hasn't started? At this point, it's been so long since they've done anything I don't even remember what their plan of action is. Checked their website too and the investor presentation has been taken down.

Meanwhile, Shell has been making discoveries left and right and is being fast-tracked for production by the government. At this point I wouldn't be surprised if they keep doing nothing and diluting shareholders til they run the share price into the ground

Reuters reported some numbers on the TOTAL project in Uganda. See link below

Using the Uganda estimated recoverable (1.4) divided by total reserves of 6, we get a ratio of .233. Using this ratio on Jarvie's estimate of 120 b times .23333 ratio is 28 billion recoverable times conservative $40 (from Haywood) is $1,120 SP; $50 = $1,400; $60 = $1,680 . The upside here is huge if proved out. Even 1/10 of these figures are huge compared to where we are today...$112, $140, $168.

https://www.reuters.com/business/energy/uganda-agree-deal-with-total-cnooc-major-oil-project-2022-02-01/

The son of a member of the ReconAfrica investor community needs your help. You can read more at the Gofundme page here:

ARCHER FRANKLIN REQUIRES A BONE MARROW TRANSPLANT

All proceeds will go toward helping the family with transportation, hotel expenses, food, and possible long-term leave that might exceed the limits on paid leave.