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(the Company or ReconAfrica) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces an agreement for a joint exploration project in Angola with the Agncia Nacional de Petrleo, Gs e Biocombustveis or National Oil, Gas and Biofuels Agency (ANPG). ANPG is Angolas national concessionaire and regulator.
basins; A US$100 million commitment from a major U.S. basins; A US$100 million commitment from a major U.S.-based based oil sector investor (the ‘Investor’) to accelerate growth through the drilling activity in Zephyr’s Williston Basin non-operated asset portfolio.
His deep industry knowledge and hands-on operational skillset, developed over four decades, will be instrumental in delivering our vision to unlock the full potential of our deep-basin tight-gas project through the drill-bit.” We are thrilled to welcome Eric to the leadership team, said Dr. Paul Clarke, President and CEO.
existing net DUCs and permits with an average lateral length of ~9,500 feet PRO FORMA HIGHLIGHTS Approximately 85,700 net royalty acres in the Permian Basin; ~43% operated by Diamondback Pro forma Viper owns an average 1.8% at closing at strip pricing and decreasing thereafter; near-term net debt target of $1.5 mboe/d) Approximately 16.1
About ReconAfrica 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 and northwestern Botswana , where the Company holds petroleum licences comprising ~8 million contiguous acres.
The combined company becomes the largest Canadian light oil focused producer and the seventh largest producer in the Western Canadian Sedimentary Basin, with significant natural gas growth potential. times net debt/funds flow, which is expected to continue to further strengthen to 0.8
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