Reconnaissance Africa(RECO)

Webinar from Wednesday by Namibia Ministry of Energy. Very positive on oil discoveries there. RECO is about the 13 minute mark, but a lot of good info throughout. Just have to get use to the accent some what

www.cgef.org/media/webinars

I bought a bit more too, Can't wait until drilling starts

I bought more on the dip under $6

I think this is very important in fiance news "Each warrant entitles the holder to acquire one common share at a price of $9 until Oct. 31, 2022."

This is a pretty short dated warrant. It tells me that they expect the stock over $9.00 before the end of October

I heard very powerful entities came into this financing, I think dtangen could win the contest

BOUGHT DEAL: Reconnaissance Energy Africa Ltd. (RECO) – C$38MM - C$6.35 per Unit – CG 100%

ReconAfrica is a Canadian oil and gas company engaged in the opening of the newly discovered deep Kavango Sedimentary Basin, in the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum licences comprising approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat, in line with best international standards, and will implement environmental and social best practices in all of its project areas. For more information, visit www.sedar.com .

THIS IS A SHORT FORM PROSPECTUS ISSUE. NO QUEBEC SALES.

Order books may close without further notice.

Issuer: Reconnaissance Energy Africa Ltd. (RECO).

Issue: C$38,100,000 (6,900,000 Units), prior to over-allotment option.

Issue Price: C$6.35 per Unit. Each Unit shall consist of one (1) Common Share and one (1) Common Share purchase warrant (C$9.00. October 30, 2022).

Reference Price: C$6.69 per Common Share.

All-In Discount (See Below For Warrant Valuation): C$0.0957 / 6.5%.

Closing Date: March 1, 2022.

Use of Proceeds:

The Company intends to use the net proceeds of the Offering for drilling and seismic operations in the Kavango sedimentary basin and for general corporate purposes.

Warrant Valuation*:

Reconnaissance Energy Africa Ltd. (TSXV: RECO)

Black-Scholes Warrant Value

Warrant value

Unit Offering Price:

C$

$6.350

K


%


41.7%

Exercise Price:


C$


$9.00

Time to maturity (in years):


yrs


0.8

Annualized volatility:


%


30.0%

Annual risk-free interest rate:


%


0.69%

d1


number


(1.1451)

d2


number


(1.4134)

Black-Scholes value (basic)


C$


$0.0957


# warrants per unit


1.00

Warrant value per unit


C$


$0.0957


Issue discount


Market close price:


C$


$6.690

Unit Offering Price:


C$


$6.350

Warrant value:


C$


($0.096)

Implied share issue price:


C$


$6.254

All-in discount:


C$


$0.436

All-in discount:


%


(6.5%)


*Calculations are my own

Syndicate:

Canaccord Genuity Corp. - 100.0%

I'll take $7.50

Put me in at $14.01

I just have a feeling that RECO can do as well as Shell, Exxon or Total Energy. With that in mind I will go with $63. D Tangen

wide range of predictions here, should be exciting

2022 Contest I did a sort and reposted

Hammerhead4 4.44
Travis M 8.37
Pasta 9.5
Davyboy 11.5
Jocko 12.5
Glenn L 12.55
luck 12.84
cricket 15
qinvest 16
Robert R 16.99
raccoonskunk 17.01
itnsk 18.88
Robin 19.66
DearJohn 21.2
Lynnsa 23
James B 24.01
Jim B 24.68
Gerald M 29.5
Glenn T 34.25
Gambler 36
GoldnBoy 37
Hoss 40.15
JunglistGuy 40.2
mozrep 45
Dreamer 48.22
alexgreat 55

I'm in at $48.22. Thanks

Put me in for 18.88