Reconnaissance Energy Africa Ltd.
RECWF
Other OTC0.00
USD
+0.00
- -
ISIN
CA75624R1249
Return %
Stock
S&P500
1Y
-97.81
19.01
3Y
-99.83
65.48
5Y
-99.83
72.20
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Brian C. Reinsborough
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- Canada
- Website
- reconafrica.com
- Similar Companies
- Business
- Reconnaissance Energy Africa Ltd. (RECWF) is an independent oil and gas company focused on the exploration, development, and production of hydrocarbons in the Kavango Sedimentary Basin of Namibia. The company holds interests in multiple petroleum exploration licenses, including PEL 73 covering approximately 6.3 million gross acres onshore; it engages in seismic data acquisition, drilling exploratory wells, and appraisal activities to delineate oil and gas resources. Operations center on high-impact drilling programs targeting stacked oil plays in the Damara Fold Belt Rift sequence, with a portfolio emphasizing low-cost, large-scale discoveries. Founded in 2019 and headquartered in Calgary, Alberta, Canada, the company operates primarily in Namibia, with administrative support from its Canadian base and technical partnerships extending to the United States and South Africa. Core assets include the Prospect F target within PEL 73, where the company has identified multiple stacked reservoir horizons based on extensive 2D and 3D seismic surveys; additional services encompass geological modeling, resource estimation, and farm-out agreements to derisk exploration. Target customers include international oil majors and national oil companies seeking entry into frontier basins with multi-billion barrel potential. In recent developments, Reconnaissance Energy Africa spudded the Naingopo-1 exploration well in PEL 73 in late 2024, marking a significant advancement in its drilling campaign following the Prospect F discovery appraisal. The company announced promising initial results from the Kabembe-1 well in early 2025, confirming additional oil shows and extending the play fairway; it also secured a farm-down agreement with BW Energy in 2024, reducing capex exposure while retaining majority interest. These milestones, alongside ongoing 3D seismic interpretation and plans for further wells like Prospect H, position the company for accelerated resource definition and potential production declarations within the next 12-18 months.