Reconnaissance Energy Africa Ltd.

Reconnaissance Energy Africa Ltd. is pleased to announce that it has entered into an amended agreement with Research Capital Corporation as the sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters to increase the size of its previously announced bought-deal public offering, pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 16,666,700 units of the Company at a [...]

Reconnaissance Energy Africa Ltd. is pleased to announce that it has entered into an agreement with Research Capital Corporation as the sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters , pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 11,112,000 units of the Company at a price of C$0.90 per Unit for aggregate gross proceeds to the Company of C$10,000,800 [...]

Reconnaissance Energy Africa Ltd. announces that it has engaged the services of FTB Capital Inc. to conduct investor awareness, advertising and marketing activities by distributing public information provided by the Company regarding the Company's business to various media outlets . The Publishing Agreement is valid until December 31, 2024, commencing March 18, 2024. FTB will be paid a fee of US$995,000 for its services [...]

Reconnaissance Energy Africa Ltd. announces an updated prospective resource estimate supported by a Prospective Resource Report dated March 12, 2024 prepared by Netherland, Sewell & Associates, Inc. , an independent qualified reserves evaluator. The Report focused solely on the Damara Fold and Thrust Belt Area, located within the Company's Petroleum Exploration Licence , in the Kavango Basin, NE Namibia, in which the [...]

Reconnaissance Energy Africa Ltd. announces that it has granted incentive stock options to certain directors and officers of the Company to acquire an aggregate of 2,800,000 common shares in the capital of the Company in accordance with the Company's ten per cent rolling incentive stock option plan. The Options were granted at an exercise price of $1.40 per share for a five year term expiring March 6, 2029. The Options [...]

Reconnaissance Energy Africa Ltd. announces the filing of its financial results for the quarter ended December 31, 2023. HIGHLIGHTS Re-initiated the farmout joint venture process in December 2023 with completion expected in April 2024. The bid deadline was extended to allow participating companies time to incorporate the updated resource report on the Damara Fold Belt currently being evaluated by Netherland, Sewell [...]

Reconnaissance Energy Africa Ltd. announces that, subject to court approval, it has reached a global settlement of the class action lawsuits pending against the Company in the United States and Canada. As previously disclosed in the Company's October 28, 2021 and February 4, 2022 press releases, three purported shareholder class action complaints were filed against the Company and certain of its current and former [...]

Reconnaissance Energy Africa Ltd. announces an update to a press release dated June 26, 2023. In that press release, the Company disclosed certain resource estimates based on a report prepared by Netherland, Sewell & Associates, Inc. dated June 22, 2023, with an effective date of March 31, 2023, entitled "Estimates of Prospective Resources in Certain Opportunities located in the Damara Fold And Thrust Belt Play Area". As [...]

Reconnaissance Energy Africa Ltd. announces an operations update and the resignation of Mark Gerlitz as a member of the Board of Directors. OPERATIONS ReconAfrica continues to pursue activities as it prepares to start a multi-well drilling campaign in 2024. To date, all surveying activity has been completed, with demining activities complete on the Damara Fold Belt Prospect L, which is expected to be the Company's first [...]

Reconnaissance Energy Africa Ltd. announces an operational update, an update to Petroleum Exploration Licence 073, onshore Namibia, a filing update, and an update on the transaction with Namcor Exploration and Production announced in the Company's news release dated September 22, 2022. Operational Update The Company continues to advance activities in preparation for the drilling program planned for 2024 with land access [...]