Reconnaissance Energy Africa or ReconAfrica CEO Brian Reinsborough joined Steve Darling from Proactive to announce the successful completion of the company’s previously disclosed financing, which was oversubscribed and raised more than $36 million in gross proceeds. The strengthened balance sheet positions ReconAfrica to accelerate activity across its expanding asset portfolio and advance a multi-pronged capital program planned for 2026. Reinsborough explained that the new capital will be deployed to fast-track work programs in both Namibia and offshore Gabon. The financing follows encouraging results from the Kavango West 1X well in the Kavango Basin and the recent addition of the Ngulu Block offshore Gabon, which includes the Loba oil discovery, further diversifying the company’s exploration and development opportunities. In Namibia, ReconAfrica plans to conduct an extensive production test at the Kavango West 1X discovery well and install production casing, while simultaneously progressing toward spudding the next Kavango appraisal well. These activities are intended to further evaluate the commercial potential of the discovery and build momentum toward delineation of the resource. Offshore Gabon, the company plans to reprocess seismic data covering the Loba discovery and the broader exploration inventory on the Ngulu Block. This work is expected to advance the project toward the delivery of a resource report and achieve drill-ready status for a future appraisal well. As part of the financing, BW Energy Limited, through its wholly owned subsidiary BW Energy Services Limited (BWESL), participated by acquiring 2,315,780 Units for total consideration of approximately C$2.2 million. Each Unit comprised one common share and one-half of a common share purchase warrant. Reinsborough noted that the oversubscribed financing provides the company with the financial flexibility required to pursue multiple high-impact catalysts in parallel, as ReconAfrica works to unlock the potential of its onshore and offshore assets and deliver value through disciplined exploration and appraisal activities. #proactiveinvestors #reconnaissanceenergyafricaltd #tsxv #reco #otcqx #recaf #NamibiaOil #EnergyExploration #OilAndGas #ExplorationFinancing #Oversubscribed #NamibiaEnergy #KavangoBasin #GabonOffshore #NguluBlock #LobaDiscovery #SeismicReprocessing #AppraisalDrilling #StrategicInvestor #BWEnergy #EnergyMarkets #UpstreamEnergy #ProactiveInvestors