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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the opening of Kavango Sedimentary Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. It holds 90% interest in a petroleum exploration license in northeast Namibia and a 100% interest in petroleum exploration rights in northwest Botswana over the entire Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (6.3 million acres) and 8,990 km2 (2.2 million acres) in Botswana. The two licenses together comprise 34,325 sq km (8.5 million acres). Its conventional drilling program is focused on analyzing the rocks to determine if there is a working petroleum system in the Kavango Basin.


TSXV:RECO - Post by User

Post by pacer001on Aug 03, 2023 3:28pm
149 Views
Post# 35571912

African oil companies-buyouts rampant!

African oil companies-buyouts rampant!All I want to know is when Recaf will be bought out and for how much. See below.

"Mergers and acquisitions in 2023 might not be keeping up with last year’s pace, but Africa continues to generate its fair share of deals with recent examples including The $830m acquisition of Galp Angola by enti energias and Aker Energy AS acquired by AFC Equity Investment Ltd.

While Independents lead M&A activity,International Oil Companies (IOCs) are catching up, rationalizing portfolios, and targeting competitive African frontiers. However, for Africa-focused investors, accessing capital has become more challenging with lenders moving away from financing oil & gas projects and stricter ESG requirements. Operators and independents must now adapt, and seek innovative ways to remain competitors.
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