Reconnaissance Energy Africa Ltd. (ReconAfrica) has announced an overnight marketed public offering of C$10 million to fund its drilling and exploration initiatives in Namibia.
The funding infusion would enable the financing of Prospect I in the Kavango Basin, a critical exploration site that is attracting heightened global attention.

ReconAfrica has been able to accelerate its fieldwork in June 2025 as a result of the interest that the offering has generated from industry participants, including BW Energy Limited, which was spearheaded by Research Capital Corporation.
The offering comprises units that comprise one common share and one-half of a common share purchase warrant, offering investors the potential for long-term equity growth.

According to ReconAfrica, the funds will be allocated for the purpose of rig mobilization, field operations, and ongoing business operations.
The organization aims to improve data collection in order to improve operational efficiency and environmental compliance.

The announcement suggests that there is substantial institutional support in the energy sector, despite the global instability.
Namibia’s ambitions to become a new player in Africa’s upstream oil and gas sector may be furthered by the exploration, which could also generate employment opportunities and advance local infrastructure development, should it prove successful.