Reconnaissance Energy Africa Ltd. is pleased to announce that it has completed its previously announced overnight marketed offering of units of the Company for gross proceeds of $7,475,000, including the full exercise of the over-allotment option in the amount of $975,000. The Offering was completed by way of a short form prospectus filed in all of the provinces of Canada, except Québec, and the Units were sold outside of [...]
Reconnaissance Energy Africa Ltd. announces it has received its Environmental Clearance Certificate from the Office of the Environmental Commissioner, Ministry of Environment, Forestry and Tourism, covering PEL 73 licence, which extends over an area of ~6.3 million acres , in northeastern Namibia. The ECC authorizes ReconAfrica to commence the drilling of an additional 12 exploration and appraisal wells, to unrestricted [...]
Reconnaissance Energy Africa Ltd. is pleased to announce that it has agreed to increase the size of its previously announced overnight marketed offering co-led by Canaccord Genuity Corp. and Haywood Securities Inc. . The upsized offering will consist of 5,909,091 units of the Company at a price of $1.10 per Unit for aggregate gross proceeds of $6,500,000.10 . Each Unit will consist of one common share of the Company and [...]
Reconnaissance Energy Africa Ltd. is pleased to announce that, in connection with its previously announced overnight marketed offering, it has entered into an underwriting agreement with Canaccord Genuity Corp. and Haywood Securities Inc. to sell 4,545,454 units of the Company at a price of $1.10 per Unit for aggregate gross proceeds of $5,000,000 . Each Unit will consist of one common share of the Company and one common [...]
Reconnaissance Energy Africa Ltd. is pleased to announce that it has filed a preliminary short form prospectus in connection with an overnight marketed offering of units of the Company, at a price per Unit to be determined in the context of the market . The Offering is being conducted through a syndicate of underwriters comprised of Canaccord Genuity Corp. and Haywood Securities Inc. . Each Unit is expected to consist of [...]
Reconnaissance Energy Africa Ltd. announces an updated prospective resource estimate supported by a Prospective Resource Report focused solely on the new Damara Fold Belt gas play located within the Company's Petroleum Exploration Licence in the Kavango Basin, NE Namibia in which the Company holds a 90% working interest. ReconAfrica engaged Netherland, Sewell & Associates, Inc. , an independent qualified reserves [...]
Reconnaissance Energy Africa Ltd. provides an update on the transaction with Namcor Exploration and Production announced in the Company's news release dated September 22, 2022. The Company and NAMCOR have not yet completed the transaction pursuant to the definitive purchase and sale agreement but report that discussions are ongoing. About ReconAfrica ReconAfrica is a Canadian oil and gas company engaged in the opening of [...]
Reconnaissance Energy Africa Ltd. is pleased to announce the results of the Association of International Energy Negotiators, 2022 Corporate Social Responsibility award at the annual International Energy Summit & Award Ceremony that took place in Miami, Florida on May 31, 2023. These awards celebrate impactful industry achievements, underpinned by international energy negotiations and transactions that promote and embody [...]
Reconnaissance Energy Africa Ltd. reports that on May 23, 2023, a shareholder of the Company, filed a claim pursuant to the Class Proceedings Act against the Company, in the Supreme Court of British Columbia, alleging various misrepresentations published in core and non-core documents. ReconAfrica will review the claim, but currently has no reason to believe that there is any merit to the claim. About ReconAfrica [...]
Reconnaissance Energy Africa Ltd. provides an update on the acquisition of Enhanced Full Tensor Gravity surveys and 2D seismic acquisition recently conducted in Namibia. Initial results from the first phase show a high quality eFTG sub-surface image, with the rift bounding faults and other structural features delineated. In addition, the intra-rift highs and rift floors are well imaged. The image also puts into [...]
Reconnaissance Energy Africa Ltd. provides an update on the acquisition of the first Enhanced Full Tensor Gradiometry survey conducted in Namibia. Metatek-Group Limited, a worldwide airborne geophysical survey specialist based in the United Kingdom, is currently conducting an eFTG survey over an area of nearly 2,200 square kilometers in ReconAfrica's 25,000 square kilometers PEL073 exploration license in north-eastern [...]
Reconnaissance Energy Africa Ltd. is pleased to announce as a result of recent data from the ongoing phase two 2-D seismic program, a significant new play type has been confirmed in the southern and western parts of the Company's ~6.3 million acre exploration licence area in Namibia - PEL 73. This new fold belt province, the "Damara Fold Belt", initially identified SW of the Karoo Rift Basin, consists of a very prominent [...]
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