Reconnaissance Energy Africa spuds Kavango West 1X exploration well in Namibia
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) announced that drilling has commenced at the Kavango West 1X exploration well in Namibia. The Kavango West 1X exploration well, also referred to as Prospect I, was spud on July 31.
Reconnaissance Energy Africa prepares to spud Kavango West 1X well in Namibia
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) announced it will spud its Kavango West 1X exploration well in Namibia before the end of July, targeting over 1,500 metres of Otavi carbonate reservoir in the Damara Fold Belt. The well is expected to reach a total depth of approximately 3,800 metres (12,500 feet).
Reconnaissance Energy Africa upsizes fundraising, preparations underway for Kavango West 1X well drilling - ICYMI
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) CEO Brian Reinsborough talked with Proactive about the successful closing of a C$19 million offering, significantly upsized from the initial C$10 million target due to strong investor demand. Reinsborough emphasized that the raise reflects confidence in the company's renewed strategy and leadership, with support coming from long-time shareholders, management, directors, and institutional investors, including partner BW Energy.
ReconAfrica raises C$19M in upsized equity offering to fund drilling in Namibia
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) has closed a C$19 million upsized public offering of units, including the full exercise of the over-allotment option, to fund upcoming exploration activities in Namibia's Kavango Basin. Proceeds will be used to drill the Kavango West 1X exploration well—ReconAfrica's second test of the Damara Fold Belt play in northeastern Namibia.
ReconAfrica upsizes public offering to C$16.5M on strong investor demand
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) has announced an increase in the size of its underwritten public offering to C$16.5 million due to strong investor demand. The offering, originally launched as an overnight marketed deal, will now consist of 33 million units priced at C$0.50 per unit.
ReconAfrica launches C$10M equity offering backed by BW Energy, insiders
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) revealed plans to raise C$10 million through an overnight marketed public offering of units to fund drilling of its high-potential Kavango West 1X exploration well in Namibia. "We are excited to spud one of the company's largest and most attractive prospects, Kavango West 1X,” said Brian Reinsborough, President and CEO of ReconAfrica.
ReconAfrica appoints new IR head, eyes warrant extension
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) has appointed Mark Friesen as Managing director of investor relations and capital markets. Friesen, based in Calgary, brings over two decades of energy finance and IR experience, including prior roles at Kiwetinohk Energy, Murphy Oil, and BMO.
Reconnaissance Energy Africa hails transformational 2024 with key farm down deal and drilling milestones
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) CEO Brian Reinsborough has reflected on “another transformational year” for the company in 2024 along with the filing of its annual financial statements for the period. Reinsborough highlighted the completion of the company's agreement with BW Energy Ltd for a 20% farm down of Petroleum Exploration License (PEL) 73 as a significant milestone.
Reconnaissance Energy Africa CEO discusses Angola expansion deal - ICYMI
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) CEO Brian Reinsborough talked with Proactive about the company's newly announced joint exploration agreement, which adds approximately 5.2 million acres to its asset base in southern Africa. Proactive: All right, welcome back inside our Proactive newsroom.
ReconAfrica could unlock multi-billion barrel potential with Angola expansion, analysts say
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) is set to unlock considerable hydrocarbon potential, analysts say, following its move into Angola announced last week. The Canadian company signed an agreement with Angola's national oil regulator, Angola's National Agency for Petroleum, Gas, and Biofuels (ANPG), granting ReconAfrica 5.2 million net acres of onshore exploration rights in southeastern Angola's Etosha-Okavango basin.
Reconnaissance Energy Africa prepares to drill Prospect I in Namibia – ICYMI
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) CEO Brian Reinsborough talked with Proactive about the company's preparations to drill Prospect I—its largest and most promising target to date. Proactive: All right, welcome back inside our Proactive newsroom.
ReconAfrica advances drilling plans for largest prospect to date
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) announced that it has completed pre-drill evaluations and remains on track with pre-construction work ahead of drilling its largest-ever target, Prospect I, located onshore Namibia in Petroleum Exploration Licence 073. The onshore Prospect I aims for up to 365 million barrels of unrisked and 32 million of risked light to medium oil or 1.9 trillion cubic feet of unrisked and 140 billion cubic feet of risked natural gas, ReconAfrica said in a progress update on Thursday.
