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Bullboard - Stock Discussion Forum Reconnaissance Energy (Africa) Ltd RCNWF


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

Energy Metals & Mining Oil & Gas E&P Industrial Metals & Minerals
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... see more

TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > What is a “farm” down?
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Post by pacer001 on Aug 02, 2024 9:34am

What is a “farm” down?

ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) announces that, further to its announcement on July 16, 2024, it has entered into a definitive farm down agreement with BW Energy Limited ("BW Energy") (OSE: BWE) dated July 30, 2024, for the sale of a 20% working interest in Petroleum Exploration Licence 73 ("PEL 73"), in northeast Namibia. The terms of the agreement are as described in the press release dated July 16, 2024.
Comment by pacer001 on Aug 02, 2024 4:04pm
So how much money does Recaf get?  Cash?
Reconnaissance Energy (Africa) Ltd