ReconAfrica Announces Second Quarter Filings
ReconAfrica (OTCQX: RECAF) has filed its Q2 2025 financial documents and provided operational updates. The company successfully closed a C$19 million equity financing in June 2025, which was upsized from the initial C$10 million target.
The company has commenced drilling operations at the Kavango West 1X exploration well, which spudded on July 31, 2025. The drilling is progressing as planned, with expectations to reach the Otavi reservoir by late October and achieve total depth by November end. Well results are anticipated to be released around year-end 2025, with an interim drilling update expected in early September.
ReconAfrica (OTCQX: RECAF) ha depositato i documenti finanziari del secondo trimestre 2025 e ha fornito aggiornamenti operativi. La società ha completato con successo un aumento di capitale di 19 milioni di dollari canadesi a giugno 2025, maggiorato rispetto all’obiettivo iniziale di 10 milioni di dollari canadesi.
La società ha avviato le operazioni di perforazione presso il pozzo esplorativo Kavango West 1X, entrato in attività il 31 luglio 2025. La trivellazione procede secondo i piani, con l’aspettativa di raggiungere il serbatoio Otavi verso la fine di ottobre e la profondità totale entro novembre. I risultati del pozzo dovrebbero essere pubblicati intorno alla fine del 2025, con un aggiornamento intermedio sulle perforazioni previsto per i primi di settembre.
ReconAfrica (OTCQX: RECAF) ha presentado sus documentos financieros del segundo trimestre de 2025 y ha proporcionado actualizaciones operativas. La compañía cerró con éxito una financiación de capital de 19 millones de dólares canadienses en junio de 2025, ampliada respecto al objetivo inicial de 10 millones de dólares canadienses.
La empresa ha iniciado las operaciones de perforación en el pozo exploratorio Kavango West 1X, que comenzó el 31 de julio de 2025. La perforación avanza según lo previsto, con la expectativa de alcanzar el yacimiento Otavi a finales de octubre y la profundidad total para finales de noviembre. Se espera que los resultados del pozo se publiquen hacia finales de 2025, con una actualización intermedia de la perforación a principios de septiembre.
ReconAfrica (OTCQX: RECAF)� 2025� 2분기 재무 서류� 제출하고 운영 현황� 업데이트했습니다. 사� 2025� 6월에 목표였� 1000� 캐나다달러에� 증액� 1900� 캐나다달� 규모� 주식 자금 조달� 성공적으� 마무리했습니�.
사� Kavango West 1X 탐사�� 시추 작업� 시작했으�, � 정은 2025� 7� 31일에 착수했습니다. 시추� 계획대� 진행되고 있으�, 10� 말까지 오타� �( Otavi reservoir )� 도달하고 11� 말까지 총심도에 도달� 것으� 예상됩니�. 정공 결과� 2025� 연말� 공개� 예정이며, 9� 초에 중간 시추 업데이트가 있을 예정입니�.
ReconAfrica (OTCQX: RECAF) a déposé ses documents financiers du deuxième trimestre 2025 et fourni des mises à jour opérationnelles. La société a clôturé en juin 2025 un financement par émission d’actions de 19 millions de dollars canadiens, porté au-delà de l’objectif initial de 10 millions de dollars canadiens.
La société a lancé les opérations de forage du puits d’exploration Kavango West 1X, foré à partir du 31 juillet 2025. Le forage progresse comme prévu, avec l’objectif d’atteindre le réservoir Otavi fin octobre et la profondeur totale d’ici fin novembre. Les résultats du puits devraient être publiés vers la fin de 2025, un point d’étape sur le forage étant attendu début septembre.
ReconAfrica (OTCQX: RECAF) hat seine Finanzunterlagen für das zweite Quartal 2025 eingereicht und betriebliche Updates bereitgestellt. Das Unternehmen hat im Juni 2025 erfolgreich eine Eigenkapitalfinanzierung in Höhe von 19 Mio. CAD abgeschlossen, die gegenüber dem ursprünglichen Ziel von 10 Mio. CAD aufgestockt wurde.
Das Unternehmen hat mit den Bohrarbeiten am Kavango West 1X Explorationsbohrloch begonnen, das am 31. Juli 2025 angesetzt wurde. Die Bohrungen verlaufen planmäßig, mit der Erwartung, das Otavi‑Reservoir bis Ende Oktober zu erreichen und die Endteufe bis Ende November zu erreichen. Bohrungsergebnisse werden voraussichtlich gegen Jahresende 2025 veröffentlicht, ein Zwischenbericht zur Bohrung ist für Anfang September geplant.
- Successfully upsized equity financing from C$10M to C$19M, indicating strong investor interest
- Drilling operations at Kavango West 1X well proceeding on schedule
- Clear timeline established for well completion and results reporting
- Additional shareholder dilution from C$19M equity financing
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 ended June 30, 2025, including the unaudited consolidated financial statements and Management's Discussion and Analysis ("MD&A"), which are available on SEDAR+ at .
Brian Reinsborough, President and CEO of 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 northeastern Namibia, southeastern Angola and northwestern Botswana, 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:
Media Inquiries Email:
Telephone: 1-877-631-1160
Cautionary Note Regarding Forward-Looking Statements:
Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, the timing of permits, timing and sequencing of the next well, actual well results, future drilling activity, resource potential, the updated NSAI Report, the Company’s commitment to minimal disturbance of habitat, in line with best international standards and its implementation of environmental and social best practices in all of its project areas. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on ReconAfrica's current belief or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the "Risk Factors" section in the Company's annual information form dated April 29, 2025, available under the Company's profile at . Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
