RECONNAISSANCE ENERGY AFRICA CONFIRMED BY BCSC

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The British Columbia Securities Commission has confirmed that Reconnaissance Energy Africa($TSXV:RECO) Ltd. is a reporting issuer in the province. This means that the company is now subject to certain disclosure and other requirements under BC securities law. REA is a Canadian oil and gas exploration and production company with operations in South Africa. The BCSC’s decision to confirm REA as a reporting issuer will have no immediate impact on the company’s operations or market capitalization. However, it does mean that REA will be required to disclose material information to investors in a timely manner and comply with other Canadian securities laws. This could improve investor confidence in the company and provide a boost to its long-term earnings potential.

Market Price

On Wednesday, the British Columbia Securities Commission confirmed that RECONNAISSANCE ENERGY AFRICA is a valid and registered company. RECONNAISSANCE ENERGY AFRICA stock opened at CA$4.4 and closed at CA$4.5, up by 0.4% from last closing price of 4.5. RECONNAISSANCE ENERGY AFRICA is an exploration and production company focused on Africa. The company has a portfolio of properties in Ghana, Kenya, Mali, Mauritania, Niger and Senegal. RECONNAISSANCE ENERGY AFRICA is listed on the TSX Venture Exchange under the ticker symbol “REA”.

VI Analysis

Reconnaissance Energy Africa is a high growth company that is considered less stable due to lower profitability. The company’s fundamentals reflect its long term potential, below analysis on REA are made simple by VI app. According to VI Star Chart REA is strong in asset, growth, and weak in dividend, profitability. REA is classified as ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. High growth companies are deemed more volatile as they attempt to grow faster. REA has a low health score of 3/10 considering its cashflows and debt, is less likely to safely ride out any crisis without the risk of bankruptcy.

Summary

Reconnaissance Energy Africa, Inc is pleased to confirm that it has received conditional approval from the British Columbia Securities Commission to list its common shares on the Canadian Securities Exchange . Reconnaissance Energy Africa is an international oil and gas exploration and production company with a focus on delivering long-term shareholder value through the development of high-quality assets in the African continent. The Company is currently active in two countries in Africa – Namibia and South Africa. The Company is led by a highly experienced management team with a proven track record of success in discovering and developing oil and gas assets in Africa. Reconnaissance Energy Africa is well-funded to continue its aggressive exploration and development program and is committed to creating value for all of its stakeholders.