Announcement • Jun 09
Reconnaissance Energy Africa Ltd. Commences Production Testing At Kavango West 1X Discovery Reconnaissance Energy Africa Ltd., along with partners NAMCOR and BW Energy, had commenced production testing operations at Kavango West 1X. Downhole production testing operations at KW1X have commenced. The cement bond log was conducted prior to the end of May confirming that production testing could proceed with no additional cement work. Downhole perforation work is currently underway, managed by SLB and Halliburton services, following the delivery of perforation equipment to site. While permitting requirements for the transportation of the downhole testing equipment from North America to the Kavango West 1X drill site experienced minor delays, ReconAfrica continues to target disclosure of production test results to all stakeholders by late July. As previously stated, plans are to test six optimized zones of interest (three in the lower Elandshoek formation and three in the shallower Huttenburg formation) with each zone test lasting up to 10 days. Any flow of natural gas or liquids to surface will be flared at this testing stage. Following a successful production test, the KW1X well would be temporarily abandoned and available as a future producing well. ReconAfrica continues to take the steps required to advance appraisal drilling locations on the Kavango discovery following the completion of the production test at KW1X. Preparations for the appraisal well are proceeding with specific permitting applications and site preparations underway for the Kavango West 2A appraisal well. Announcement • Mar 28
Reconnaissance Energy Africa Ltd. Commences Production Testing Operations At Kavango West Discovery and Provides Operational Update Reconnaissance Energy Africa Ltd. commenced testing operations on schedule at the Kavango West 1X discovery well. Regulatory permits required to proceed with production testing have been received and work crews are on site preparing the well for testing. The production liner, which was procured in North America, has arrived on site. The Company has signed contracts with Halliburton and Schlumberger Oilfield Services for equipment and services. Local suppliers have been engaged in multiple support capacities. By incorporating additional rock data, log analysis has continued to be updated which has resulted in refinements to previously disclosed results of the well log analysis. The current petrophysical analysis indicates 75 metres (246 feet) of net hydrocarbon pay in the Huttenberg formation, an increase over the previously disclosed 64 metres (210 feet). ReconAfrica, as operator, will be conducting production testing across six optimized zones, three of which are in the Huttenberg formation and three in the deeper Elandshoek formation. A total of 345 metres (1,132 feet) of prospective interval will be isolated and perforated for testing. The Company is currently reprocessing 3D seismic data over the key areas of the Ngulu block, including the Loba discovery. Upon completion, the Company will select an appraisal location on the Loba oil discovery and commission a third-party resource report, which is expected by the end of 2026. The Ngulu block, which covers 1,214 Km2 and is equivalent to 54 Gulf of Mexico blocks, is in shallow water offshore central Gabon. This strategic block is located on trend to several sizable producing oil fields. The key aspects of the Ngulu block include the Loba oil discovery and over 28 seismically identified prospects in the pre- and post-salt plays. Announcement • Jan 20
Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 32.000085 million. Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 32.000085 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 33,684,300
Price\Range: CAD 0.95
Discount Per Security: CAD 0.057
Security Name: Units
Security Type: Equity/Derivative Unit
Price\Range: CAD 0.95
Discount Per Security: CAD 0.0285
Security Name: Common Shares
Security Type: Common Stock
Security Name: Warrants
Security Type: Equity Warrant Announcement • Dec 16
Reconnaissance Energy Africa Ltd., Annual General Meeting, Feb 19, 2026 Reconnaissance Energy Africa Ltd., Annual General Meeting, Feb 19, 2026. Announcement • Dec 03
Reconnaissance Energy Africa Ltd. Announces Results at Kavango West 1X Well, Onshore Namibia Reconnaissance Energy Africa Ltd. announce the results of the Kavango West 1X well located on Petroleum Exploration Licence (‘PEL’) 73, onshore Namibia. Highlights of Kavango West 1X well:The well encountered ~400 metres (~1,300 feet) of gross hydrocarbon section identified on wireline logs in the Otavi carbonate section. The well encountered 64 net metres (210 feet) of hydrocarbon pay, verified by wireline logs and supported by mud log anomalies. An additional 61 metres (200 feet) of hydrocarbon shows identified in the deeper sections, where interpreted natural fractures in the limestone reservoir occur. The Company plans to production test Kavango West 1X in the first quarter of 2026. ReconAfrica completed drilling operations at Kavango West 1X (‘KW1X’) on November 29, after reaching total depth (‘TD’) of 4,200 metres (13,800 feet) and conducting an extensive wireline logging program. The well has been temporally abandoned and will be re-entered once testing equipment arrives in the first quarter of 2026.Extensive wireline logging indicates ~85 metres (~280 feet) of net reservoir with 64 metres (210 feet) of net hydrocarbon pay across a gross interval of ~400 metres (~1,300 feet) containing multiple limestone reservoir units. Mud and gas samples have been collected throughout the well and will be sent to the Unites States for analysis. No core samples were taken in this well. The Company’s forward program will focus on testing the well to establish flow rates from intervals of interest. Testing will be conducted because of the positive indications of hydrocarbon saturated reservoirs based on wireline logs and oil and gas shows in addition to interpreted natural fractures in the limestone reservoir units, which should enhance deliverability of hydrocarbons. A production test will be conducted to determine the deliverability characteristics of the intervals of interest within the Otavi carbonate section. The production test will be run in 5-inch production casing with Tubing-Conveyed Perforations (TCP) to selectively perforate intervals based on where hydrocarbon pay has been identified on wireline logs and where significant oil and gas shows were encountered. Intervals of interest will be the 64 metres of hydrocarbon pay identified on wireline logs and an additional 61 metres of oil and gas shows identified in the deeper sections where interpreted natural fractures in the limestone reservoir units should enhance deliverability of hydrocarbons. Planning and logistics have begun for this test, which is anticipated to occur in the first quarter of 2026 and should run for approximately one month in duration. Announcement • Nov 13
ReconAfrica Provides Drilling Update at Kavango West 1X Well Reconnaissance Energy Africa Ltd. provided a drilling update on the Kavango West 1X exploration well. The well has been drilling safely and efficiently. The Company is encouraged with the drilling results to date, which show the presence of hydrocarbons through numerous oil and gas shows, as well as strong and consistent natural gas markers on mud logs throughout the Otavi reservoir package. The company plan to conduct an extensive wireline test program to verify the hydrocarbon shows, including fluid sampling and pressure measurements upon reaching TD. Due to the scale of what the company are testing at the Kavango West prospect and the broader Damara Fold Belt play, the company plan to disclose the results when the well has been thoroughly evaluated. The company remain on track to provide results prior to year-end. The well has been drilled safely and efficiently to a current depth of 4,158 metres, which is deeper than the originally planned total depth ("TD") of 3,800. The well was spud on July 31 and drilling operations advanced efficiently and safely, reaching the original targeted total depth of 3,800 metres ahead of planned drilling program. The well reached its current depth of 4,158 meters on November 7. The company applied for and received approval to drill to approximately 4,200 metres based on the encouraging presence of hydrocarbons. Drilling has been delayed at the current depth due to a drive shaft failure. All equipment to conduct the repair has been sourced and is being shipped to the drilling site. The repair work is expected to be completed next week. The Company plans to drill ahead before conducting extensive wireline logging, including core and fluid samples. Results from the wireline logging tests are expected to be released prior to year-end. Announcement • Oct 07
Reconnaissance Energy Africa Ltd. Provides Drilling Update at Kavango West 1X Drilling Ahead into Otavi Reservoir Section Reconnaissance Energy Africa Ltd. provided an operational update regarding the Kavango West 1X exploration well. The final casing string has been set at a depth of approximately 2,300 metres, just above the targeted Otavi reservoir. Currently, the well is drilling ahead into the Otavi carbonate reservoir, which is the primary target in the Damara Fold Belt. The company anticipates drilling an extensive section of the potential reservoir, which will be followed by a full evaluation of the Otavi section. The Kavango West 1X well is testing a very large structural closure in the Otavi section measuring almost 20 kilometres long by 3 kilometres wide. Drilling operations advanced ahead of schedule in the shallower section of the well, which caused a deferral of operations for several weeks at the current casing depth as the Company wait on casing strings for the final section of the well to be delivered to location. Operations have resumed and drilling remains on the original expected schedule. The Kavango West1X well is expected to penetrate approximately 1,500 metres of potential reservoir before reaching TD at approximately 3,800 metres. Once at TD, an extensive logging program will commence with results expected to be made public around year-end. Communications from the Company regarding the Kavango West1X drilling details from this point until reaching TD will be under "tight hole" status, meaning that Recon will not provide indications of well results prior to final logging of the Otavi reservoir section. Strict adherence to tight hole status prior to the Company obtaining logging results should not be interpreted as being either negative or positive. Any drilling updates provided between now and the completion of logging of the Otavi reservoir zone will only include an updated drilling depth. Announcement • Sep 30
Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 18 million. Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 18 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 30,000,000
Price\Range: CAD 0.6
Discount Per Security: CAD 0.036 Announcement • Sep 03
Reconnaissance Energy Africa Ltd. Provides Kavango West 1X Drilling Update Reconnaissance Energy Africa Ltd. provided a drilling update on the Kavango West 1X exploration well that spud on July 31, 2025. The Company spud the Kavango West1X exploration well on July 31, 2025. the well is currently drilling the 8.5-inch section at a depth of approximately 1,910 metres. The next, and final, casing string will be set at approximately 2,400 metres before drilling penetrates the Otavi reservoir zone in October. The drill plan includes drilling approximately 1,500 metres of the Otavi reservoir before reaching total depth of around 3,800-4,250 metres by the end of November 2025. The Company will periodically provide drilling updates by way of news releases prior to expecting to release well results around year end. Announcement • Aug 01
Reconnaissance Energy Africa Ltd. Provides A Corporate Update and Announces the Kavango West 1X Well Has Starts Drilling Reconnaissance Energy Africa Ltd. announced that the Kavango West 1X exploration well is currently drilling and provides a corporate update on ongoing operations. The Kavango West 1X Exploration prospect spud on July 31st. The well is planned to reach total depth (TD) of approximately 3,800 metres (12,500 feet) by the end of November 2025 and is expected to penetrate over 1,500 metres of Otavi carbonate reservoir section, which is the primary target of the Damara Fold Belt play. The prospect is a large structural fold identified on modern 2D seismic data, which extends over 22 kilometers long by 3 kilometers wide. The Company has identified over 19 prospects and four leads mapped in the Damara Fold Belt trend, with an additional 5.0 million acres captured in a recently executed Memorandum of Understanding in offsetting Angola. Originally, the Kavango West 1 X location was not scheduled to be the next well, but the location was reprioritized after the results of last well, Naingopo. While this reprioritized resulted in a slightly longer lead time to spud this location, the Company prioritizes rigorous technical appraisal with respect to location selection to ensure the best possible chance for commercial success. Due to ongoing drilling activities, the previously announced 3D seismic program that had been scheduled for the second half of 2025 has been moved to the 2026 operating program. The Company is continually reviewing potential investment opportunities that may include acquisition of further acreage for exploration, development and producing properties and joint venture transactions that target acceleration of production and free cash flow, particularly due to the Company's concentrated asset risk profile. Announcement • Jun 17
Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 16.5 million. Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 16.5 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 33,000,000
Price\Range: CAD 0.5
Discount Per Security: CAD 0.035 Announcement • Apr 10
Reconnaissance Energy Africa Ltd. Provides Drilling Update on Prospect I Reconnaissance Energy Africa Ltd. announced a drilling update on Prospect I. Prospect I is located onshore Namibia in Petroleum Exploration Licence 073 ("PEL73") and is the Company's largest prospect to be drilled so far. It is targeting 365 million barrels of unrisked and 32 million barrels of risks prospective light/medium oil resources, or 1.9 trillion cubic feet of unrisked and 140 billion cubic feet of risks prospective natural gas resources, on a 100% working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell, & Associates Inc. ("NSAI"), an independent qualified reserves evaluator. Prospect I is noted as location 63 in the NSAI report. Pre-construction activities are continuing on schedule and the pre-drill evaluation is complete. The drilling schematic demonstrates that the company are targeting a drilling depth of 3,800 metres with the potential to drill deeper, as the company did for the Naingopo exploration well. The thickness of the Otavi section is expected to be approximately 1,500 metres to 1,800 metres depending on how deep the company are able to drill. The learnings from the Naingopo Exploration well have improved understanding of the Damara Fold Belt with respect to geologic model including time and depth migration for the Mulden and Otavi sections. This is the same reservoir where the company encountered over 50 metres of reservoir quality carbonates and encountered oil shows in the Naingopo well. ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum licences comprising approximately 8 million contiguous acres. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. Announcement • Nov 27
Reconnaissance Energy Africa Ltd Announces Completion of Drilling Operations on the Naingopo Exploration Well Reconnaissance Energy Africa Ltd. announced that it has reached total depth ("TD") of 4,184 metres (13,727 feet) on the Naingopo exploration well on Petroleum Exploration Licence 073 ("PEL 73"), onshore Namibia. The Naingopo exploration well was drilled to a total depth of 4,184 metres (13,727 feet). The Company will now undertake a comprehensive logging and coring program, and perform a VSP, followed by casing and cementing the well. Results of the well will be provided following a thorough analysis of the subsurface data acquired and any obtained oil or natural gas samples. The company expects to have the preliminary results of the Naingopo well in the next several weeks. During December 2024, the Company will undertake repair and maintenance activities on the Jarvie-1 drilling rig. The company expects to move to the Kumbundu (Prospect P) well location after completing the review of the results from current operations. As a reminder, the Naingopo well is targeting 181 million barrels of unrisked and 15 million barrels of risked prospective light/medium oil resources(1) or 937 billion cubic feet of unrisked and 65 billion cubic feet of risked prospective natural gas resources(1), on a 100% working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell & Associates Inc. ("NSAI"). Kambundu is targeting 309 million barrels of unrisked and 15 million barrels of risked prospective light/medium oil resources(1) or 1.6 trillion cubic feet of unrisked and 64 billion cubic feet of risked prospective natural gas resources(1), on a 100% working interest basis, based on the most recent prospective resources report prepared by NSAI. Announcement • Nov 22
Reconnaissance Energy Africa Ltd. Appoints W. Derek Aylesworth to Board Reconnaissance Energy Africa Ltd. announced that joining Joining the Board of Directors as an independent director is W. Derek Aylesworth, an independent businessman. Mr. Aylesworth has over 30 years of experience in the Canadian oil and gas industry having previously served as Chief Financial Officer of TSX listed Seven Generations Energy and TSX and NYSE listed Baytex Energy Corporation. Since September 2023, he is a director of TSX and NYSE listed Greenfire Resources Ltd, and is Chair of the Audit and Reserves Committee. Mr. Aylesworth is a Chartered Professional Accountant and holds a Batchelor of Commerce degree. Additionally, President and Chief Executive Officer, Brian Reinsborough, has been elected to the Board of Directors. Announcement • Sep 17
Reconnaissance Energy Africa Ltd., Annual General Meeting, Nov 20, 2024 Reconnaissance Energy Africa Ltd., Annual General Meeting, Nov 20, 2024. Announcement • Aug 29
Reconnaissance Energy Africa Ltd. Announces an Operational Update Reconnaissance Energy Africa Ltd. announced an operational update. The Naingopo exploration well is drilling beyond a depth of 2,400 metres or 7,875 feet, with surface casing set at 350 metres and a first casing string set at 1,200 metres. The company will soon be undertaking next set of logging and coring activities and setting the second casing string targeted at approximately 2,600 metres or 8,530 feet. The well has been tracking to drilling depth and well cost estimates, on schedule and plan with the primary objectives beneath current drilling depth. The Naingopo well is targeting 181 million barrels of unrisked prospective light/medium oil resources or 937 billion cubic feet of prospective natural gas resources, on a 100% working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell & Associates Inc. ("NSAI"). The well is targeting to drill to a depth of approximately 3,800 metres or 12,500 feet and is expected to encounter four primary reservoir intervals targeting both oil and natural gas. If successful, the well would be a major play opening discovery providing access to multiple drill ready prospects. Elsewhere on PEL 73, the Company continues to make progress in the construction of the access road for the second Damara Fold Belt exploration well, Prospect P, which is expected to start drilling in the fourth quarter of 2024. Prospect P is targeting 309 million barrels of unrisked prospective light/medium oil resources or 1.6 trillion cubic feet of prospective natural gas resources, on a 100% working interest basis, based on the most recent prospective resources report prepared by NSAI. Announcement • Aug 16
Reconnaissance Energy Africa Ltd. announced that it has received $0.456687 million in funding On August 15, 2024, Reconnaissance Energy Africa Ltd. closed the transaction. The transaction included participation from a single investor Announcement • Aug 06
Reconnaissance Energy Africa Ltd. Announces an Operations Update Reconnaissance Energy Africa Ltd. announced an operations update with respect to activity relating to Petroleum Exploration Licence 73 ("PEL 73"), onshore northeast Namibia. The Naingopo well is currently drilling on schedule and on budget to a depth of 1,450 metres and will soon be drilling into key targeted intervals. The will continue to drill through key intervals throughout the remainder of the well, which is targeted to complete drilling in early October with results thereafter. The well has been tracking to drilling depth and well cost estimates, with everything on schedule and plan. As a reminder, the Naingopo well is targeting 181 million barrels of unrisked prospective light/medium oil resources or 937 billion cubic feet of prospective natural gas resources, on a 100% working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell & Associates Inc. ("NSAI"). The well is targeting to drill to a depth of approximately 3,800 metres or 12,500 feet and is expected to encounter four primary reservoir intervals targeting both oil and natural gas. If successful, the well would be a major play opening discovery providing access to multiple drill ready prospects. Other Activities on PEL 73: The Company is working with Polaris Natural Resources Ltd. in testing the use of vibroseis as a source for the potential acquisition of 3D seismic covering a section of the Kavango Rift Basin. Current testing is being undertaken to compare results using the vibroseis as a source compared to previously acquired data using the acceleration weight drop system. The results of the testing will provide the data necessary to appropriately plan and execute a potential 3D seismic program in 2025. Announcement • Aug 01
Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 35 million. Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 35 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 28,000,000
Price\Range: CAD 1.25
Discount Per Security: CAD 0.0593 Announcement • Jul 18
Reconnaissance Energy Africa Ltd. announced that it has received CAD 22 million in funding from BW Energy Limited Reconnaissance Energy Africa Ltd announced that it has received CAD 22 million in a round of funding on July 16, 2024. The transaction includes the participation from new investor, BW Energy Limited. The company has issued equity in the transaction. Announcement • Jul 17
BW Energy Limited (OB:BWE) signed a letter of intent to acquire 20% stake in Petroleum Exploration Licence 73 in the Kavango Basin from Reconnaissance Energy Africa Ltd. (TSXV:RECO) approximately $145 million. BW Energy Limited (OB:BWE) signed a letter of intent to acquire 20% stake in Petroleum Exploration Licence 73 in the Kavango Basin from Reconnaissance Energy Africa Ltd. (TSXV:RECO) approximately $145 million on July 16, 2024. For total potential consideration of $141 million, including US$16 million equity investment and an additional US$45 million in carry payments based on achievement of commerciality. These payments will be paid in two installments, one at FID and the second payment one year after production. In the event of development of discoveries, production milestone payments could total an additional US$80 million. Three separate production payments of US$25 million, are made after BW Energy reaches certain free cash flow milestones. An additional first production payment of US$5 million, is paid sixty days after the start of commercial production. On completion of the transaction, the ownership interests in PEL 73 will be; ReconAfrica 70%, BW Energy 20%, and NAMCOR 10%. ReconAfrica remains the operator of PEL 73. This is subject to the satisfaction of customary closing conditions, including entering into a definitive farm down agreement and approvals from the state oil company of Namibia and the Ministry of Mines and Energy in Namibia. Announcement • Jun 27
Reconafrica Announces an Operations Update and Joint Venture Update Reconnaissance Energy Africa Ltd. announces an operations update with respect to activity relating to Petroleum Exploration Licence 73 (PEL 73), onshore northeast Namibia, and a joint venture update. Operations Update: All camp, rig and equipment moves have been completed with all major equipment now on site of the Naingopo exploration well. Third party service contractor teams are either on site or expected to mobilize to the site in the next week ahead of the expected spud date of July 7, 2024. On Prospect P, debushing and road access activities are ongoing with major civil works including well pad construction expected to commence in the next month. Joint Venture Process Update: The Company continues to progress its farm out joint venture process which the company expects to conclude soon. Announcement • Jun 13
Reconnaissance Energy Africa Ltd. Announces an Operations and Joint Venture Update Reconnaissance Energy Africa Ltd. announced an operations update with respect to activity relating to Petroleum Exploration Licence 73 ("PEL 73"), onshore northeast Namibia, and an update on the joint venture process. First Damara Fold Belt Well Naingopo Prospect The move of the working camp and the drilling rig from the Wisdom Farm 5-1 location are wrapping up, with everything expected to be operational on the Naingopo well site towards the end of the month. The well remains on schedule to begin drilling this month and is targeting 163 million barrels of unrisked prospective oil resources or 843 billion cubic feet of unrisked prospective natural gas resources, net to ReconAfrica, based on the most recent prospective resources report prepared by Netherland, Sewell & Associates Inc. ("NSAI") dated March 12, 2024, and available on the Company's website (the "NSAI Report"). Announcement • Jun 08
Reconnaissance Energy Africa Ltd. Announces Board and Committee Changes Reconnaissance Energy Africa Ltd. announced changes to its Board of Directors, including the retirement of Chairman Craig Steinke, the appointment of the Honourable Diana McQueen as Chair and the appointment of D. Jeffrey Harder as a new independent director and Chair of the Audit Committee. Mr. Craig Steinke, the founder of ReconAfrica, is retiring as a director and Chair of the Board. Mr. Steinke has been a director and Chair since January 2022. Mr. Steinke played a pivotal role in the development of ReconAfrica including the acquisition of Petroleum Exploration Licence 073 in Namibia and PEL 001 in Botswana, the acquisition of the Jarvie-1 drilling rig and the drilling of three stratigraphic test wells. In addition, he was involved in extensive environmental, social and governance initiatives including the drilling and installation of 36 community water wells and the provision of 17 post-secondary scholarships for students from the Kavango regions and SAN community. Mr. Steinke's retirement as director and Chair of the Board is effective immediately. Joining the Board of the Company as a director and Chair is the Honourable Diana McQueen, ECA, ICD.D, currently Senior Vice President of Stakeholder Relations & Communications of the Company since April 2021. Diana held senior level Alberta provincial cabinet roles from 2008 to 2015, including Minister of Energy, Minister of Environment & Sustainable Resource Development/Forestry and Climate Change, and Minister of Municipal Affairs. Ms. McQueen has extensive board governance experience and is currently a director of MEG Energy Corp. Also joining the Board of the Company as an independent director and Chair of the Audit Committee, is D. Jeffrey Harder, FCPA, FCA, FCBV, ICD.D. Mr. Harder has more than 40 years' experience as a financial professional with a focus on the energy and mining sectors. Mr. Harder was previously a partner with Deloitte LLP before his retirement from the firm where he held strategic governance and operational positions including Canada business leader and Americas business leader. Mr. Harder is currently a director of MCF Energy Ltd. Announcement • May 26
Reconnaissance Energy Africa Ltd. Announces an Operations Update with Respect to Activity Relating to Petroleum Exploration Licence 73, Onshore Northeast Namibia Reconnaissance Energy Africa Ltd. announced an operations update with respect to activity relating to Petroleum Exploration Licence 73 (PEL 73), onshore northeast Namibia. First Damara Fold Belt Well Naingopo Prospect: Major civil works are wrapping up on the well site access roads and well pad construction. Members of the drilling crew have arrived in-country to undertake rig maintenance and certification activities which are ongoing ahead of the move of the Jarvie-1 rig to the Naingopo well (Prospect L), in the Damara Fold Belt. The drilling and operations teams, including all major third-party service providers, have completed a drilling on paper activity with all critical path processes reviewed and tested. All major equipment has been ordered and is either in country or in transit to Namibia. The well remains on schedule to begin drilling in June 2024 and is targeting 163 million barrels of unrisked prospective oil resources or 843 billion cubic feet of unrisked prospective natural gas resources based on the most recent prospective resources report prepared by Netherland, Sewell & Associates Inc. ("NSAI") dated March 12, 2024. Damara Fold Belt Well Prospect P: The Company is in advanced planning for Prospect P, which is expected to be the second Damara Fold Belt exploration well. Debushing activities are expected to begin in the near term and will be followed by demining activities before major civil works are started. The well is expected to spud in the fourth quarter of 2024, soon after the drilling of the Naingopo exploration well and is targeting 278 million barrels of unrisked prospective oil resources or 1.5 trillion cubic feet of unrisked prospective natural gas resources based on the NSAI Report. Announcement • Apr 03
Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 15.00003 million. Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 15.00003 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 16,666,700
Price\Range: CAD 0.9
Discount Per Security: CAD 0.063 Announcement • Feb 23
Reconnaissance Energy Africa Ltd. Announces Resignation of Mark Gerlitz from the Board of Directors Reconnaissance Energy Africa Ltd. announced that Mark Gerlitz, has tendered his resignation from the Board of Directors (the "Board"), to pursue other professional interests. Mr. Gerlitz has been a member of the Board since February 2021 and has been an integral part of the Company's growth during that period. Mr. Gerlitz's resignation is effective immediately and he has agreed to enter into a consulting agreement with the Company to provide transition services as may be requested by the Company. Announcement • Oct 28
Chame Energy Corporation entered into a definitive agreement to acquire Renaissance Oil Corp. from Reconnaissance Energy Africa Ltd. (TSXV:RECO) for approximately $110 million. Chame Energy Corporation entered into a definitive agreement to acquire Renaissance Oil Corp. from Reconnaissance Energy Africa Ltd. (TSXV:RECO) for approximately $110 million on October 25, 2023. In addition, under the Agreement Chame will assume all debts of RenCan and its subsidiaries, along with all present and future liabilities of RenCan and its subsidiaries. Brian Reinsborough, President and CEO of RECO stated that transaction provides the Company with access to working capital while allowing to exit Mexico and remove the legacy liabilities from company's balance sheet in excess of $100 million. Closing of the transaction is subject to acceptance by the TSX Venture Exchange ("TSXV"). Announcement • Sep 06
Reconnaissance Energy Africa Ltd. announced that it has received CAD 1.20008 million in funding On September 5, 2023, Reconnaissance Energy Africa Ltd. has closed the transaction. The company issued 1,071,500 units at a price of CAD 1.12 per unit for the gross proceeds of CAD 1,200,080. Each Warrant will entitle the holder to acquire one Common Share at a price of CAD1.40 until September 1, 2025. The securities issued in connection with the transaction will be subject to a hold period until January 2, 2024, being four months and one day from the closing of the Offering, in accordance with applicable Canadian securities legislation.
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 3 placees including existing insider involvement of 3 insiders for 1,071,500. Announcement • Aug 30
Reconnaissance Energy Africa Ltd. Announces Appointment of Iman Hill as New Independent Director, Effective August 29, 2023 Reconnaissance Energy Africa Ltd. announced the appointment of Iman Hill as a new independent director to the Board of Directors, effective August 29, 2023. Ms. Hill joins the Board with over 25 years of senior oil & gas experience with extensive expertise in the technical and commercial aspects of the industry, as well Iman has a strong commitment to HSE, Sustainability and Energy Transition. Iman is a petroleum engineer and has held senior leadership roles at BP, Shell, BG, among others, during her career. She brings vast proficiency to the Board from her experience gained in North and West Africa, the Middle East, South America and the Far East. She previously served as CEO of The International Oil & Gas Producers Association and is an independent director of United Oil & Gas (AIM listed). Previously she has served as a director of DHT Holdings Inc., Outokumpu, and EMGS. Announcement • Aug 04
Reconnaissance Energy Africa Ltd. announced that it expects to receive CAD 1.2 million in funding Reconnaissance Energy Africa Ltd. announced a non-brokered private placement with officers and directors of the company of up to 1,071,429 units at a price of CAD 1.12 per unit for the gross proceeds of CAD 1,200,000 of which approximately CAD 1,000,000 is being subscribed by the company's new Chief Executive officer on August 3, 2023. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of CAD 1.37 for a period of 24 months from the closing of the offering. The securities issued in connection with the offering will be subject to a hold period of four months and one day from the closing of the offering in accordance with applicable Canadian securities legislation. The transaction is expected to close on or before August 31, 2023. The transaction is subject to the approval of all regulatory regulations and the TSX Venture Exchange. Announcement • Aug 03
Reconnaissance Energy Africa Ltd. announced that it has received CAD 0.879949 million in funding On August 2, 2023, Reconnaissance Energy Africa Ltd. closed the transaction. The transaction included participation from four investors. Announcement • Jul 13
Reconnaissance Energy Africa Ltd. Receives Environmental Clearance Certificate to Drill 12 New Wells in the Kavango Basin, Namibia Reconnaissance Energy Africa Ltd. announced 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 approximately 6.3 million acres (approximately 25,000 km2), in northeastern Namibia. The ECC authorizes ReconAfrica to commence the drilling of an additional 12 exploration and appraisal wells, to unrestricted depths, in the Kavango Basin, in Namibia from July 4, 2023, until July 4, 2026. The primary objective of the upcoming drilling program is to establish commercial accumulations of oil and or natural gas and natural gas liquids which were identified in the first three stratigraphic test wells. Management's current focus in the 3rd & 4th quarter of 2023 is developing and prioritizing its prospect inventory in order to execute a multi-well drilling program targeting both primary plays; the Damara Fold Belt and the Karoo Rift Basin, with initial emphasis on the Damara Fold Belt as detailed in the Company's June 26, 2023. Announcement • Jun 23
Reconnaissance Energy Africa Ltd., Annual General Meeting, Aug 30, 2023 Reconnaissance Energy Africa Ltd., Annual General Meeting, Aug 30, 2023. Announcement • Sep 22
Reconafrica Completes Technical Evaluation of the Conventional Structures Throughout the Entire Kavango Basin, Namibia & Botswana Reconnaissance Energy Africa Ltd. to announce the Company has completed a comprehensive subsurface evaluation delineating large scale, prospective conventional hydrocarbon bearing structures, throughout the entire Kavango Basin. The primary objective of ReconAfrica's initial three well drilling program, scheduled for Fourth Quarter of 2020, is to confirm a thick, active, petroleum system throughout the deep Kavango basin. Specifically, the wells are designed to test organic rich shales and more shallow conventional structures throughout the sedimentary basin. Announcement • Aug 25
Reconnaissance Energy Africa Ltd. Announces Executive Changes Reconnaissance Energy Africa Ltd. announced the Company's Board of Directors has appointed Scot Evans as Chief Executive Officer effective August 24, 2020. He will succeed Jay Park, who will become Chairman of the Board. Mr. Evans, most recently the Company's Chief Operating Officer, is an energy industry leader with a combined 35 years of experience with Exxon and Halliburton. Prior to joining ReconAfrica in November, 2019, Mr. Evans was Vice President of Halliburton's Integrated Asset Management and Technical Consulting organizations, where he grew production from 20K to over 100K barrels of oil equivalent per day, creating the equivalent of a Mid-Cap upstream oil company. His experience in the US spans the Permian, Eagle Ford and Monterey plays, and internationally in Algeria, Kuwait, India, Angola, Ecuador and Mexico. He is an expert in developing new field resources. Announcement • Aug 21
Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 22 million. Reconnaissance Energy Africa Ltd. has completed a Composite Units Offering in the amount of CAD 22 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 31,428,571
Price\Range: CAD 0.7
Discount Per Security: CAD 0.042