NAMIBIA: ReconAfrica Extends LOI National Petroleum Corporation

Reconnaissance Energy Africa (ReconAfrica) reports that further to its announcement on February 6, 2022, it has entered into an extension to the Letter of Intent with its partner, the National Petroleum Corporation of Namibia NAMCOR, to acquire half of NAMCOR’s 10% carried participating interest in the approximate 6.3 million acres petroleum exploration licence (PEL 73) in the Kavango basin, NE Namibia.

The parties will now work towards entering into a mutually acceptable agreement and other related documents containing the terms and conditions of the Transaction, including those that are customary in international oil and gas transactions, by June 6, 2022.