reconnaissance energy africa ltd on thursday said it has agreed to acquire half of its partners interest in the approximate petroleum exploration licence in namibia the canadian oil and gas company which focuses on exploration and development in namibia and botswana first signed a letter of intent with namcor exploration and production pty ltd for the purchase in early february at the time the total consideration for the 5 carried interest was for an aggregate value of 318 million canadian dollars or us236 million in cash and stock on thursday reconafrica said it entered into a definitive purchase and sale agreement with namcor to purchase half of its 10 carried participating interest in the pel 73 license the license covers 63 million acres of land in the kavango basin which is located in the southeast part of the country it expects to complete the transaction by the end of 2022 after receiving all the necessary regulatory approvals