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ReconAfrica Responds to Short Seller's Biased and False Short Report
ReconAfrica Responds to Short Seller's Biased and False Short Report Canada New...
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"\n \n \n \n ReconAfrica Responds to Short Seller's Biased and False Short Report\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n June 28, 2021\n \n /CNW/ - Reconnaissance Energy Africa Ltd. (the\n \n \"\n \n Company\" or\n \n \"\n \n ReconAfrica\") (TSXV: RECO) (OTCQX: RECAF) (\n \n Frankfurt\n \n : 0XD) provides the real facts in response to falsehoods and distortions from a recent short seller's report.\n \n \n \n \n \n \n \n \n \n \n Short Seller's False Claims about ReconAfrica\n \n \n \n \n \n \n The short seller report published on\n \n June 24, 2021\n \n 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. The short seller has no geological expertise itself, has not seen any data whatsoever, and its financial bias is clear:  it admits that it has shorted the stock of ReconAfrica.\n \n \n \n ReconAfrica's Exploration Strategy is Logical, in Line With Best Industry Practices and Specifically Tailored to the Geology of\n \n Northeast Namibia\n \n and\n \n Northwest Botswana\n \n \n \n \n \n \n 1- ReconAfrica was the first to recognize the deep Kavango Basin as a distinct geological feature\n \n \n .  ReconAfrica purchased aeromagnetic survey data which the Government of\n \n Namibia\n \n had commissioned, and had this data processed by Earthfield Technology, based in\n \n Houston Texas\n \n , one of the world's leading specialists in quantitative analysis of magnetic and gravity data.  Earthfield's analysis yielded detailed, three-dimensional images of the basement surface of the Kavango Basin, and further defined it as geophysically separate from the Owambo Basin to the west. A new view of the regional geology resulted in the Kavango rift play that ReconAfrica is pursuing.\n \n \n \n \n 2- ReconAfrica worked to first establish the existence of a working petroleu...