Bullboard - Stock Discussion Forum Reconnaissance Energy (Africa) Ltd V.RECO

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

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

Add To Watchlist

TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > African oil companies-buyouts rampant!

View:

Post by pacer001 on Aug 03, 2023 3:28pm

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.

156