CA - Reconnaissance Energy Africa: Great Expectations Around The New Exploration Well And JV Discussions
2024-05-30 01:35:33 ET
Summary
- ReconAfrica is a Canadian oil and gas company exploring the Kavango Basin, with volatile stock performance and a market capitalization of $205M.
- Q4-2023 financials show a loss of $74.8M due to the sale of Mexican assets, but the divestment frees ReconAfrica from tax liabilities.
- Operational updates include upcoming drilling activities, new hires to strengthen the exploration team, and ongoing discussions for a potential JV partnership.
- In June 2024, ReconAfrica will start drilling activities for the Naingopo exploration well.
In the last weeks, Reconnaissance Energy Africa (RECAF) (RECO:CA) - also known as ReconAfrica - made several announcements and released its Q4-2023 earnings (earnings can be found at the following link on SEDAR+, the Canadian repository for financial information). In this article, I will explain my opinion about what the recent updates might mean for the future of ReconAfrica and I will provide an overview of the financial results....
Reconnaissance Energy Africa: Great Expectations Around The New Exploration Well And JV Discussions