IMO --- I observed a correlation of the Recon stock SP responding the LOI for Reconnaissance Energy Africa Ltd to purchase Renaissance Oil Corp. approximately on April 19. ""Pursuant to the LOI, ReconAfrica will issue to each holder of a Renaissance Share 0.046 of a common share of ReconAfrica (each whole common share, a "ReconAfrica Share") (the "Consideration"). The value of the Consideration represents a 1.45% premium over the closing price of the Renaissance Shares on the TSX Venture Exchange (the "TSXV") on April 16, 2021, the last day of trading prior to the announcement of the Transaction, and based on the closing price of the ReconAfrica Shares on the TSX.V of $7.62 on April 16, 2021. The terms of the Transaction value Renaissance at $.35 per share or approximately $155 million. Following the completion of the Transaction, current shareholders of Renaissance will hold approximately 20,340,792 shares or 11.36% of the fully-diluted issued and outstanding shares of ReconAfrica.

Then the biggest response to ReconAfrica SP occurred on MAY 19, 2021 when ReconAfrica and Renaissance Announce Signing of Definitive Arrangement Agreement to be voted upon on July 8th. So -- it seems that the two stocks are more or less floating around the terms of the transaction.