@Pizzabrewer OMG! That is incredibly risky. A Canadian company with 7 employees (!) that only holds an oil and gas license in Africa. What could possibly go wrong? As per their own info:
"Reconnaissance Energy Africa Ltd, formerly Lund Enterprises Corporation, is an oil and gas company. The Company is engaged in the exploration and development of oil and gas in Namibia. The Company holds interest in a petroleum exploration license in northeast Namibia, which covers the entire Kavango sedimentary basin."
So, the first company (Lund) already went out of business and they re-branded the stock as Reconnaissance Energy Africa. Think; reverse merger. Lund had no value left other than their stock listing. So these 7 guys get together and buy the defunct company consisting of only a stock listing, make wild claims about ownership/property rights in Africa, issue new shares, and.... now what? Again, they only 'hold interest in a petroleum exploration license"; meaning, they don't own it outright, therefore they must also have a partner. Who is that partner? What are the terms of that deal?
Going back to the 'reverse merger' method of listing stock--by buying up Lund, Recon. didn't have to submit documents and go through all the due diligence of an IPO. They just updated their info onto the old info by Lund. It's cheaper, of course, but also it hides all the risk for investors. It's the same method by which many many Chinese companies get listed on the NYSE/NASDAQ and then burn the investors.
And, as for Canadian resource extraction companies, I'd encourage any potential investor in that sector to review the cautionary tale of Bre-X:
https://en.wikipedia.org/wiki/Bre-X That stuff actually happened in a Western country with stock market oversight, a questioning media, rule of law, etc.
Now, Namibia is one of the better run countries in S. Africa, but property rights there aren't the same as in the West. Stuff gets nationalized there all the time. Sam Nujoma tried to kick white farmers off the land in Namibia, with mixed results. He couldn't quite pull off the same trick as Mugabe in next door Zimbabwe.
OK, I just looked on the map on their website where their license claim/rights are. It's right next to Angola and the Caprivi Strip. The southern part of war-torn Angola ruled by Jonas Savimbi for 30 years (or so) until his death in 2002. Will it stay stable and peaceful? Well, as long as no oil or gas is found, why shouldn't it? Back in the 1980's no one went into the Caprivi Strip--it was no man's land. Most of the new large oil and gas deposits found today are found in risky places in the world and this one is no exception.
So, I'd put the chance of a total loss of your investment at about 40%. Since your cost basis is $1 and closing price on Friday was $1.74, I'd put the chance of a 70% return also at 40%. The other 20% I'd say is the chance of a less than total loss.