Reconnaissance Energy Africa Ltd (RECAF)

[Amatuer17]

Some news - they raised money ($6.5 Million) and now approval to drill 12 well to unrestricted depth. They have to plan and execute

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The ECC authorizes ReconAfrica to commence the drilling of an additional 12 exploration and appraisal wells, to unrestricted depths, in the Kavango Basin, in Namibia from July 4, 2023, until July 4, 2026.

The primary objective of the upcoming drilling program is to establish commercial accumulations of oil and or natural gas and natural gas liquids which were identified in the first three stratigraphic test wells.

Management's current focus in the 3rd & 4th quarter of 2023 is developing and prioritizing its prospect inventory in order to execute a multi-well drilling program targeting both primary plays; the Damara Fold Belt and the Karoo Rift Basin, with initial emphasis on the Damara Fold Belt as detailed in the Company's June 26, 2023, news release.