Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) 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 www.sedarplus.ca.
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.