Reconnaissance Energy Africa Ltd. (ReconAfrica) has become the first oil and gas company to list on the Namibian Stock Exchange (NSX), trading under the symbol “REC.”
The dual listing will complement ReconAfrica’s primary listing on the TSX Venture Exchange (TSXV) and will not impact its other listings.
“We are thrilled to be the first publicly traded oil and gas company on the NSX. ReconAfrica holds the largest acreage position among publicly traded, pure-play oil and gas exploration companies operating onshore in Namibia,” stated Brian Reinsborough, President and CEO of ReconAfrica, on Tuesday.
Cirrus Securities, which advised ReconAfrica on the NSX listing, anticipates that it will enhance the company’s visibility and expand investor awareness in Namibian and Sub-Saharan African capital markets.
ReconAfrica, a Canadian oil and gas exploration company, is focused on exploring the Damara Fold Belt and Kavango Rift Basin within the Kalahari Desert region of northeastern Namibia and northwestern Botswana.
The company holds petroleum licenses covering approximately 8 million contiguous acres.
