Core Viewpoint - Reconnaissance Energy Africa Ltd. has successfully completed an underwritten offering, raising gross proceeds of C$36,800,098 to fund its capital program for 2026, which includes various exploration and operational activities [1][4]. Financing Details - The offering was led by Research Capital Corporation as the lead underwriter, with participation from Canaccord Genuity Corp. and Haywood Securities Inc. [2] - A total of 38,736,945 units were issued at a price of C$0.95 per unit, each consisting of one common share and one-half of a common share purchase warrant [3]. Use of Proceeds - The net proceeds from the offering will be allocated to: - Conducting extensive production tests and installing production casing at the Kavango West 1X discovery well - Advancing operations to spud the Kavango appraisal well - Re-processing seismic data at the Loba discovery and exploration inventory on the Ngulu block in Gabon - General corporate purposes and working capital [4][8]. Shareholder Changes - BW Energy Limited acquired 2,315,780 units in the offering, increasing its holdings to 26,338,780 common shares and 25,180,890 warrants, representing approximately 6.96% of the issued shares on an undiluted basis [5][7]. - Prior to the offering, BW Energy held approximately 7.08% of the issued shares, indicating a slight dilution in percentage ownership post-offering [6][7]. Insider Participation - Certain insiders of the company acquired a total of 107,000 units in the offering, which is classified as a related-party transaction [11]. - The company is relying on exemptions from formal valuation and minority security holder approval requirements due to the offering's fair market value being below 25% of its market capitalization [11]. Underwriter Compensation - The underwriters received a cash fee of 6% of the gross proceeds and additional broker warrants to acquire 2,148,045 common shares [13]. - An advisory fee of C$21,800 was also paid to the underwriters, along with advisory broker warrants [13]. Company Overview - ReconAfrica is engaged in oil and gas exploration in the Damara Fold Belt and Kavango Rift Basin, holding petroleum licenses over approximately 13 million contiguous acres [15].

Core Viewpoint - Reconnaissance Energy Africa Ltd. has successfully completed an underwritten offering, raising gross proceeds of C$36,800,098 to fund its capital program for 2026, which includes activities in its oil and gas exploration portfolio [1][4]. Financing Details - The offering was led by Research Capital Corporation as the lead underwriter, with participation from Canaccord Genuity Corp. and Haywood Securities Inc. [2] - A total of 38,736,945 units were issued at a price of C$0.95 per unit, each consisting of one common share and one-half of a common share purchase warrant [3]. Use of Proceeds - The net proceeds from the offering will be allocated to various activities, including conducting production tests, advancing operations for appraisal wells, re-processing seismic data, and general corporate purposes [4][8]. Shareholder Information - BW Energy Limited acquired 2,315,780 units for C$2,199,991, increasing its ownership to approximately 6.96% of the issued and outstanding common shares post-offering [5][7]. - Certain insiders of the company participated in the offering, acquiring a total of 107,000 units, which is classified as a related-party transaction [11]. Regulatory and Compliance - The offering is subject to final acceptance by the TSX Venture Exchange, and the units sold are not subject to any hold period under applicable Canadian securities legislation [5][4]. - The company will file an early warning report regarding BW Energy's acquisition of units, which will be available on the SEDAR+ profile [10]. Company Overview - ReconAfrica is engaged in oil and gas exploration in the Damara Fold Belt and Kavango Rift Basin, holding petroleum licenses over approximately 13 million contiguous acres [15].

Exxon Mobil has awarded a contract to Shearwater Geoservices to acquire 3D seismic images over its large deepwater block offshore Trinidad and Tobago, Shearwater said on Thursday. ...

Australian oil and gas exploration company 3D Energi has reported a gas discovery at the Charlemont-1 exploration well in the VIC/P79 exploration permit area within Victoria’s Otway Basin. The company, which holds a 20% interest in VIC/P79, reported that a gas sample was successfully recovered from the Waarre C sandstone at a 2,571.2m measured depth rotary table (MDRT). ConocoPhillips Australia (51%) and Korea National Oil Corporation (KNOC) with a 29% stake are the other partners in the VIC/P79 permit. ...

Core Viewpoint - Navitas Petroleum has entered a non-binding memorandum of understanding with JHI Associates to acquire a 65% working interest in the PL001 North Falklands Basin Licence, which is adjacent to the Sea Lion Development operated by Navitas in the Falkland Islands [1][2]. Group 1: Transaction Details - The PL001 licence covers approximately 1,126 km² and is located at a water depth of around 500 meters, with an estimated 3.1 billion barrels of potential oil resources [2]. - JHI will retain a 35% interest in the licence and will continue as the operator, while Navitas will finance JHI's share of exploration-related expenses up to a specified limit, with repayments contingent on free cash flow generation from the licence [2][3]. - A 90-day exclusivity period is included in the MoU, during which JHI will negotiate solely with Navitas regarding the transaction, with the possibility of a 30-day extension if necessary [3][4]. Group 2: Conditions and Future Plans - Completion of due diligence and obtaining regulatory approvals are required to finalize binding agreements by May 2026, after which a joint operating agreement will be executed [4]. - The licence may be extended for an additional decade, with an obligation for one exploration drilling programme within that timeframe, although no mandatory work plan is currently required by Falkland Islands authorities [5]. - Navitas and JHI plan to develop an exploration drilling strategy for PL001, although no significant immediate investments are planned beyond general fees and future costs [6]. Group 3: Ongoing Operations - Navitas continues to advance Phase A of the Sea Lion project under the regulations of the Falkland Islands and British Overseas Territory, with all necessary approvals coordinated between local and British governmental entities [7].

Navitas to Farm-In to JHI's North Falklands Basin Licence TORONTO, ON / ACCESS Newswire / January 12, 2026 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSXV:EOG) (Toronto, Canada), the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to announce that Navitas Petroleum LP ("Navitas"), with whom Eco signed a Framework Agreement related to several assets, has signed a non-binding Memorandum of Agreement with JHI Associates Inc ("JHI"), in which Eco currently has a 6.6% interest ...

CALGARY, Alberta, Jan. 09, 2026 (GLOBE NEWSWIRE) -- Reconnaissance Energy Africa Ltd. (the “Company”, “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces that the Board of Directors of the Company has adopted a Shareholder Rights Plan with Odyssey Trust Company as Rights Agent effective today. The Shareholder Rights Plan is consistent with modern rights plans adopted by other Canadian public companies and has not been adopted in response to any specific proposal or intention to ...

Core Viewpoint - Record Resources Inc. has entered into a debt settlement agreement to settle $300,000 in outstanding debt obligations by issuing 6,000,000 common shares at a deemed price of $0.05 per share [1]. Group 1: Debt Settlement Agreement - The debt settlement agreement involves the issuance of 6,000,000 common shares to a former consultant [1]. - The transaction is aimed at preserving the company's cash resources while advancing its exploration strategy and streamlining its balance sheet [2]. Group 2: Transaction Details - The closing of the Shares for Debt Transaction is subject to customary closing conditions, including approval from the TSX Venture Exchange [3]. - The common shares issued will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws [3].

Core Viewpoint - The A-share market experienced a collective rise today, with significant gains across major indices and various sectors showing strong performance, particularly in AI applications, commercial aerospace, and small metals [1] Market Performance - The Shanghai Composite Index rose by 0.92%, the Shenzhen Component Index increased by 1.15%, the ChiNext Index gained 0.77%, and the North Star 50 Index was up by 1.05% [1] - The total trading volume in the three markets reached 31,523 billion yuan, an increase of 3,261 billion yuan compared to the previous day, with over 3,900 stocks in the three markets showing gains [1] Sector Highlights - Leading sectors included AI applications, commercial aerospace, military equipment, controllable nuclear fusion, small metals, medical services, oil and gas exploration and services, computing power leasing, and retail, all showing significant gains [1] - The AI application sector saw a surge, with stocks like Tianlong Group, Yidian Tianxia, and Guangdong Media hitting the daily limit [1] - The small metals sector continued to rise, with companies such as Zhongtung High-tech and Yunnan Zhenye reaching new highs, and Jintong Co. hitting the daily limit [1] - The commercial aerospace sector maintained its strong performance, with stocks like Galaxy Electronics and China First Heavy Industries achieving consecutive gains [1] Underperforming Sectors - The photovoltaic sector showed weakness, with Hongyuan Green Energy hitting the daily limit down, followed by declines in Daqo New Energy and Tongwei Co. [1] - The brain-computer interface sector experienced fluctuations, with companies like Meihao Medical and Aipeng Medical seeing significant declines [1]

Calgary, Alberta--(Newsfile Corp. - January 6, 2026) - Reconnaissance Energy Africa Ltd. (TSXV: RECO) (OTCQX: RECAF) (FSE: 0XD) (NSX: REC) (the "Company" or "ReconAfrica" or "Recon") announces an overnight marketed, listed issuer financing exemption private placement offering (the "Offering") of units of the Company (each, a "Unit") at a price of C$0.95 per Unit for aggregate gross proceeds of C$20,000,000. The Offering is led by Research Capital Corporation as the lead underwriter and sole bookrunner, on ...