CA - Reconnaissance Energy Africa to acquire interest in petroleum exploration license in Kavango basin
- Reconnaissance Energy Africa ( OTCQX:RECAF ) will acquire half of Namcor Exploration and Production's 10% carried participating interest in the ~6.3M acres petroleum exploration license (PEL 73) in the Kavango basin, NE Namibia.
- The transaction is expected to complete before 2022-end.
- Additionally, the Canadian oil and gas company said it will extend the expiry of a total of ~7.5M outstanding common share purchase warrants, subject to receipt of required acceptance from the TSX Venture Exchange.
- The warrants were issued pursuant to a public offering at C$6.35 per unit.
- The warrants will be extended by five months from Oct. 31 to Mar. 31, 2023.
- Source: Press Release
For further details see:
Reconnaissance Energy Africa to acquire interest in petroleum exploration license in Kavango basin