ReconAfrica Announces Second Quarter Filings | RECAF Stock News
Reconnaissance Energy Africa Ltd. (ReconAfrica) has filed its fiscal second quarter disclosure documents for the period ending June 30, 2025. The company successfully closed a C$19 million equity financing and spud the Kavango West 1X exploration well on July 31, 2025. Drilling is on schedule, with expectations to reach total depth by November 2025 and report results by year-end. The company is focused on environmentally responsible operations in the Kalahari Desert region.
CALGARY, Alberta, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces the filing of its fiscal second quarter disclosure documents for the three-month period endedJune 30, 2025, including the unaudited consolidated financial statements and Management's Discussion and Analysis ("MD&A"), which are available on SEDAR+ atwww.sedarplus.ca.
Brian Reinsborough, President andCEOof the Company commented: "We spud the Kavango West 1X well on July 31, as planned. Our operations team is doing a great job and drilling remains on schedule. We expect to penetrate the Otavi reservoir in late October and reach total depth by the end of November. We look forward to reporting well results to all stakeholders around year-end."
Selected Highlights
For the second quarter ended June 30, 2025, and subsequent period, the Company announced:
- On June 17, 2025, the Company closed a C$19 million equity financing, upsized from the C$10 million offering size originally announced on June 4, 2025.
- On July 31, 2025, the Company spud the Kavango West 1X exploration well.
Operational and Corporate Update
The Company spud the Kavango West 1X exploration well on July 31, 2025, and the well is currently drilling as planned. The Company expects to be able to release a drilling update during the first week of September. The well is expected to reach total depth by the end of November 2025, and the Company expects to release well results around year-end.
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeasternNamibia, southeasternAngolaand northwesternBotswana, where the Company holds petroleum licences and access to ~13 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in its project areas.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Brian Reinsborough, President and Chief Executive Officer
Mark Friesen, Managing Director, Investor Relations and Capital Markets
IR Inquiries Email: investors@reconafrica.com
Media Inquiries Email: media@reconafrica.com
Telephone: 1-877-631-1160
Cautionary Note Regarding Forward-Looking Statements:
