Petroleum Africa
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Monday, May 2, 2022
Reconnaissance Energy Africa (ReconAfrica) announced that it has entered into an extension to the Letter of Intent with its partner, the National Petroleum Corporation of Namibia (NAMCOR), to acquire half of NAMCOR’s 10% carried participating interest in the approximate 6.3 million acres petroleum exploration license PEL 73 in the Kavango basin, NE Namibia.
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 June 6, 2022.
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