An announcement from Reconnaissance Energy Africa ( (TSE:RECO) ) is now available.
Reconnaissance Energy Africa Ltd. announced significant findings from its Naingopo exploration well within the Damara Fold Belt in Namibia. The well encountered over 50 meters of net reservoir with oil indications, marking a vital step in proving a working petroleum system in the area. This discovery accelerates further drilling plans, particularly for Prospect I, enhancing the company’s strategic positioning in the region’s exploration activities.
More about Reconnaissance Energy Africa
Reconnaissance Energy Africa Ltd. operates in the energy industry, focusing on oil exploration and production. The company primarily engages in identifying and developing petroleum resources, with a market focus on onshore Namibia.
YTD Price Performance: 20.39%
Average Trading Volume: 330,238
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$257M
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