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RECONAFRICA EXTENSION TO THE LETTER OF INTENT WITH NAMCOR
RECONAFRICA EXTENSION TO THE LETTER OF INTENT WITH NAMCOR Canada NewsWire ...
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"\n \n \n \n RECONAFRICA EXTENSION TO THE LETTER OF INTENT WITH NAMCOR\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 28, 2022\n \n \n /CNW/ - Reconnaissance Energy Africa Ltd. (the \"Company\" or \"ReconAfrica\") (TSXV: RECO) (OTCQX: RECAF) (\n \n Frankfurt\n \n : 0XD) wishes to announce that, further to its announcement on\n \n February 6, 2022\n \n , it has entered into an extension to the Letter of Intent with its partner, the National Petroleum Corporation of\n \n Namibia\n \n (PTY) LTD (\"NAMCOR\"), to acquire half of NAMCOR's 10% carried participating interest in the approximate 6.3 million acres petroleum exploration licence (PEL 73) in the Kavango basin,\n \n NE Namibia\n \n (the \"Transaction\") such that the parties will now work towards entering into a mutually acceptable agreement and other related documents containing the terms and conditions of the Transaction, including those that are customary in international oil and gas transactions, by\n \n June 6, 2022\n \n .\n \n \n \n \n \n \n \n \n \n All terms of the Transaction are otherwise as previously disclosed. The Company will provide further updates in due course. Closing of the Transaction will be subject to the Company receiving all necessary regulatory approvals, including, but not limited to, the acceptance of the TSX Venture Exchange for the issuance of the common shares as partial consideration for the Transaction.\n \n \n \n About ReconAfrica\n \n \n \n ReconAfrica is a Canadian oil and gas company engaged in the opening of the newly discovered deep Kavango Sedimentary Basin, in the Kalahari Desert of northeastern\n \n Namibia\n \n and northwestern\n \n Botswana\n \n , where the Company holds petroleum licences comprising approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat, in line with best international standards, and will implement environmental and social best practices in all of its project areas.\n \n \n \n Neither the TSXV ...