Reconnaissance Energy Africa completes sale of Mexican asset as company remains focussed on Namibia

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–News Direct–

ReconAfrica CEO Brian Reinsborough joined Steve Darling from Proactive to provide an update on the company's recent milestones and activities since his appointment.

ReconAfrica has been actively advancing its exploration efforts in northeastern Namibia and northwestern Botswana: The company has completed a comprehensive technical evaluation of its entire exploration inventory, focusing on the oil-prone Rift Basin and Damara Fold Belt gas plays. This evaluation aims to better understand the potential of these areas.

ReconAfrica's exploration teams have selected the first two drill locations and have initiated the necessary preparations for well site setup and procurement for drilling operations. The company has also received an Environmental Clearance Certificate from the Environmental Commissioner of the Ministry of Environment, Forestry, and Tourism. This certificate covers Petroleum Exploration Licenses for the drilling of an additional 12 exploration and appraisal wells.

The company was also granted approval for the Second Renewal Exploration Period by the Ministry of Mines and Energy. This period covers operations from January 30, 2024, to January 29, 2026.

Reinsborough also shared the company has successfully closed the sale of its Mexico operations. This move will help streamline the company's balance sheet, allowing it to remain fully focused on its exploration efforts in northeastern Namibia and northwestern Botswana.

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Proactive Investors

+1 604-688-8158

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View source version on newsdirect.com: https://newsdirect.com/news/reconnaissance-energy-africa-completes-sale-of-mexican-asset-as-company-remains-focussed-on-namibia-825374282

Reconnaissance Energy Africa Ltd

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COMTEX_444499644/2655/2023-12-05T14:02:04

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