Reconnaissance Energy (Africa)

Analysts have welcomed moves by Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) to bolster its balance sheet and bring on strategic partner BW Energy to advance the development of Petroleum Exploration License (PEL 73) offshore Namibia, where the company has recently spudded the Naingopo exploration well. On July 16, ReconAfrica unveiled a joint venture (JV) transaction with BW Energy that will help fund an expanded exploration program within PEL 73. » Mehr auf proactiveinvestors.com

Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) has provided investors with an update on its operations at Petroleum Exploration License 73 (PEL 73), offshore Namibia.   The Canadian oil and gas explorer said, having secured funding for a multi-well exploration program and with a joint venture agreement in place with BW Energy, its focus has returned to the Naingopo well. » Mehr auf proactiveinvestors.com

ReconAfrica is a Canadian oil and gas company exploring the Kavango Basin, with volatile stock performance and a market capitalization of $205M. Q4-2023 financials show a loss of $74.8M due to the sale of Mexican assets, but the divestment frees ReconAfrica from tax liabilities. Operational updates include upcoming drilling activities, new hires to strengthen the exploration team, and ongoing discussions for a potential JV partnership. » Mehr auf seekingalpha.com