Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s): RECAF | V.RECO.WT | RCNWF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest Botswana over the Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (km2) (6.3 million acres) of oil and/or gas exploration properties comprising Blocks 1719, 1720, 1721, 1819, 1820 and 1821 situated in the Kavango Basin of northeast Namibia (the Namibia Licensed Property) and approximately 7,592 km2 (1.88 million acres) in Botswana (the Botswana Licensed Property). The two licenses together comprise over 32,933 km2 (8 million acres).

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Reconnaissance Energy (Africa) Ltd > Namcor- here it is!

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Comment by RawSiennaon May 16, 2023 4:32pm

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Post# 35451078

RE:RE:Namcor- here it is!

You're wrong, from their MD&A from March 2023 filed to Sedar....Page 6 under CORPORATE DEVELOPMENT & FINANCING

If you have something newer post a link.

"On September 22, 2022, the Company announced that it had entered into a definitive purchase and sale agreement with

its partner, NAMCOR, to acquire half of its 10% carried participating interest in the approximate 6.3 million acres

petroleum exploration license in the Kavango basin. The consideration for the 5% interest comprises of (a) 5,000,000

common shares of the Company having an aggregate value of $31,750,000 with a deemed price per share of $6.35 and

(b) US$2,000,000 in cash. Completion of this transaction was originally anticipated for the end of 2022, however, delays

have pushed potential completion to later in 2023.

https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00008235&issuerType=03&projectNo=03498921&docId=5369414

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