Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) announced that it has filed its second quarter results and provided an update on its ongoing exploration program in Namibia.
The company said it has filed its unaudited consolidated financial statements and Management’s Discussion and Analysis on SEDAR+.
During the quarter, ReconAfrica completed a C$19 million equity financing, which closed on June 17 after being upsized from an originally announced C$10 million offering.
Subsequent to the quarter-end, ReconAfrica spud the Kavango West 1X exploration well on July 31.
Drilling is proceeding on schedule, ReconAfrica CEO Brian Reinsborough told investors.
“We expect to penetrate the Otavi reservoir in late October and reach total depth by the end of November,” Reinsborough said in a statement. “We look forward to reporting well results to all stakeholders around year-end."