A Canadian public company has officially listed on the Namibian Stock Exchange. And it’s making history for the oil and gas business.
What’s happening:
- Reconnaissance Energy Africa (TSXV: RECO) has officially listed onto the Namibian Stock Exchange
Why it matters:
- Reconnaissance Energy Africa is now the first ever company focused exclusively on oil and gas to be listed onto the Namibian Stock Exchange
- The Namibian Stock Exchange is one of the largest stock exchanges on the African continent
Going deeper:
- The flagship exploration stage oil and gas properties owned by Reconnaissance Energy Africa are located in northwestern Botswana and northeastern Namibia
- Reconnaissance Energy Africa also has an existing partnership with the National Petroleum Corporation of Namibia to leverage their data analysis for drilling and exploration efforts within Africa, which is largely focused on test wells and seismic surveys
The intrigue:
- Natural gas production in foreign countries has also become more relevant as many countries are seeing their overall production of natural gas begin to diminish, which has notably been happening in Colombia and other regions
