.jpg)
1 hour ago
3
Article content
CALGARY, Alberta, Aug. 17, 2026 (GLOBE NEWSWIRE) — Reconnaissance Energy Africa Ltd. (the “Company”, “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC), is pleased to announce second quarter 2026 financial and operating results. Second quarter financial statements and the Management Discussion and Analysis (“MD&A”) are available on SEDAR+ at www.sedarplus.ca.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Selected highlights for the three months ended June 30, 2026, and subsequent period:
Article content
Article content
Article content
- Commenced production testing operations of the KW1X Well in the first quarter of 2026 with downhole testing commencing in early June 2026. Successfully flowed hydrocarbons to surface from two separate zones;
- Moving to an open-hole horizontal production test, targeting up to 1,000 metres of horizontal section in the Huttenberg;
- Commenced geochemical sampling of surface oil seeps in the Angola MOU area in May 2026. Field crews completed the sampling in June 2026 with results expected in the near term;
- Received proceeds from warrant exercises of $4,965,707 during the six months ended June 30, 2026 and proceeds of $594,480 after the end of the second quarter;
- Reduced the fully diluted share count by approximately 10% year-to-date; and,
- Cash balance of $24.2 million at the end of the second quarter.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Brian Reinsborough, President and CEO, commented: “The Company made several strides this past quarter, both operationally and financially. Important and encouraging milestones were met with the ongoing production testing operations at the KW1X discovery onshore Namibia moving us to the next stage of operations – an open hole horizontal side track. At Ngulu, offshore Gabon, the state-of-the-art seismic reprocessing work progresses on schedule as we target final products and a resource report. In Angola, our geochemical oil seep sampling work was completed with results expected shortly. The Company reduced its diluted share count this past quarter by about 10 percent while also receiving proceeds from warrants to end the quarter with a strong cash balance.”
Article content
Article content
About ReconAfrica
Article content
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. The Company also operates the Ngulu block in the shallow waters offshore central Gabon covering 1,214 Km2 (equivalent to 54 Gulf of Mexico blocks) which is strategically located near producing oil fields and infrastructure. The Ngulu block includes the Loba oil field discovery and a large inventory of high impact prospects in the pre-salt and post-salt plays. 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.
Article content
For further information contact:
Brian Reinsborough, President & Chief Executive Officer
Mark Friesen, Vice President, Investor Relations & Capital Markets
Article content
IR Inquiries Email: [email protected]
Media Inquiries Email: [email protected]
Tel: +1-877-631-1160
English (US)