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Is ReconAfrica a buy, or a gamble?
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Speculative oil and gas investments
- Rick rates Reconnaissance Energy, not Northern Oil and Gas
- Reconnaissance rated four, highly speculative
- Speculation not for college funds
- Portfolio of small exploration companies
- 35-40% loss per name possible
- 10-20x gains possible on 1 name
- Offshore exploration with 3D seismic
- 1 in 3-4 chance of commercial discovery
- Aggregate arithmetic attractive
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