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.
ReconAfrica accelerates drilling timeline for Prospect I to Q2 2025
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) said it is accelerating the start of drilling at Prospect I in Namibia's Damara Fold Belt to the second quarter of 2025, citing progress in site preparation. "Our in-country teams have commenced community engagement, surveying, debushing, and demining activities, which will be followed by construction of a 10-kilometre road and drill pad site," said Brian Reinsborough, CEO of ReconAfrica in a statement.
ReconAfrica advances drilling plans after oil indications in Namibia's Damara Fold Belt
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) is planning further drilling in the Damara Fold Belt after reporting oil indications that demonstrate a working petroleum system, according to the company. The company's Naingopo well, on Petroleum Exploration Licence 073, reached a total depth of 4,184 metres on November 26 and encountered over 50 metres of net reservoir in the Otavi Group, based on log analysis and rock fluorescence observations.
ReconAfrica announces completion of strategic farm down with BW Energy
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) announced that it has completed its strategic farm down agreement for Petroleum Exploration License 73 (PEL 73) in northeast Namibia with BW Energy. The company's sale of a 20% working interest in PEL 73 was approved by the Namibian Ministry of Mines and Energy.
Reconnaissance Africa's upside potential highlighted by analysts following completion of Naingopo drilling
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) has earned a repeat ‘Buy' rating from Haywood Capital Markets analysts following its latest update on drilling at the Naingopo well on Petroleum Exploration License 73 (PEL 73) onshore Namibia. The company reported that exploration reached a depth of 4,184 meters, deeper than the planned depth of 3,800 meters.
