Oxford Industries with ticker code (OXM) have now 5 analysts covering the stock with the consensus suggesting a rating of ''Buy''. The range between the high target price and low target price is between 137 and 105 calculating the average target price we see 122.4. Now with the previous closing price of 92.19 this indicates there is a potential upside of 32.8%. The day 50 moving average is 99.01 and the 200 day MA is 92.34. The company has a market capitalisation of $1,459m. Visit the company website at: https://www.oxfordinc.com [stock_market_widget type="chart" template="basic" color="green" assets="OXM" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $1,938m based on the market concensus. Oxford Industries , an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men''s and women''s sportswear and related products under the Tommy Bahama brand; women''s and girl''s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children''s apparel and swimwear under the Lilly Pulitzer brand; and men''s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
Neurotic Markets Swing Ahead Of Fed Decision, Eyeing Ukraine War Escalation With traders nervously doing nothing ahead of today''s FOMC meeting, where Powell will announce a 75bps rate hike but all attention will be on whether the 2023 median dot (which as we previewed will unleash havoc if it comes above 4.5% which is where market expectations top out for this hiking cycle), today market got an extra jolt of volatility just before the European open when shortly after 2am ET Vladimir Putin delivered his postponed message to announce a "partial mobilization" over the Ukraine war. The news slammed stocks, yields, and the euro while sending oil and commodities sharply higher. And while the initial spike lower has reversed and futures are modestly in the green now, there is zero liquidity right now and the smallest sell program could topples risk assets. As of 7:15am ET, US futures pointed to a recovery from Tuesday’s tumble on anxiety policy makers are hoping to spark a recession in their zeal to subdue price pressures.
Citi stepped away from its bearish rating on Oxford Industries (OXM) on Wednesday as sales momentum and appropriate M&A activity assuaged some concerns.
Oxford Industries Inc (NYSE: OXM ) has completed the acquisition of Johnny Was , a California-based affordable luxury apparel brand, for $270 million. OXM expects the deal to be accretive to earnings in FY22. "The addition of the Johnny Was brand to the Oxford portfolio further diversifies our business across fashion points of view, price points, seasons, and geographies," said CEO Tom Chubb. OXM funded the transaction … Full story available on Benzinga.com
Oxford Industries Inc. hiked its outlook late Monday following an announcement it closed on its acquisition of clothing brand Johnny Was. The company said inclusion of the $270 million acquisition and strong direct-to-consumer sales at its Tommy Bahama and Lilly Pulitzer brands boosted third-quarter expectations to adjusted earnings of $1.10 to $1.30 a share on sales of $295 million to $310 million, with about two-thirds of the hike coming from anticipated results of Johnny Was, and the rest from DTC sales performance. Analysts surveyed by FactSet expect earnings of $1.02 share on revenue of $275.5 million, based on Oxford''s previous forecast of 90 cents to $1.05 a share on revenue of $270 million to $280 million. For the full year, Oxford expects adjusted earnings of $10.25 to $10.60 a share on sales of $1.38 billion to $1.41 billion, while analysts estimate earnings of $10.02 a share on revenue of $1.32 billion. Shares of Oxford were flat after hours, following a 3.9% gain in the regular session to close at $90.02.
Oxford Industries (OXM) trades higher after market as it completed the acquisition of Johnny Was for $270M.The Co
The California-based women''s bohemian label will join Tommy Bahama and Lilly Pulitzer as part of the $1.3 billion Atlanta-based firm.
The following slide deck was published by Oxford Industries, Inc.
Oxford Industries (OXM) stock fell as much as 9.2% to its lowest in over 5 weeks on Friday despite the firm raising its 2022 outlook in its Q2 earnings report. Investors appear to be…
Oxford Industries Inc (NYSE: OXM) Q2 2022 earnings call dated Sep. 01, 2022 Corporate Participants: Jevon Strasser -- Director of Financial Reporting Tom Chubb -- Chairman, Chief Executive Officer and President Scott Grassmyer -- Executive Vice President, Chief Financial Officer and Chief Operating Officer Analysts: Edward Yruma -- Piper Sandler -- Analyst Steve Marotta -- CL King & Associates -- Analyst Noah Zatzkin -- KeyBanc Capital Markets […]
Oxford Industries, Inc. (NYSE:NYSE:OXM) Q2 2022 Results Conference Call September 01, 2022 04:30 PM ET Company Participants Jevon Strasser - Investor Relations Tom Chubb - Chairman and…
Oxford Industries press release (OXM): Q2 Non-GAAP EPS of $3.61 beats by $0.13.Revenue of $363.43M (+10.6% Y/Y) misses by $0.49M.Shares -5.4%.For fiscal 2022, the Company raised…
Oxford Industries found using ticker (OXM) now have 6 analysts covering the stock. The analyst consensus points to a rating of ''Hold''. The range between the high target price and low target price is between 132 and 92 calculating the average target price we see 116.5. With the stocks previous close at 114.52 this would imply there is a potential upside of 1.7%. The 50 day MA is 96.76 and the 200 day moving average is 92.97. The market cap for the company is $1,836m. Find out more information at: https://www.oxfordinc.com [stock_market_widget type="chart" template="basic" color="green" assets="OXM" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $1,867m based on the market concensus. Oxford Industries, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men''s and women''s sportswear and related products under the Tommy Bahama brand; women''s and girl''s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children''s apparel and swimwear under the Lilly Pulitzer brand; and men''s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
Oxford Industries found using ticker (OXM) now have 6 analysts covering the stock with the consensus suggesting a rating of ''Hold''. The target price ranges between 132 and 92 calculating the average target price we see 113.17. With the stocks previous close at 96.62 this now indicates there is a potential upside of 17.1%. There is a 50 day moving average of 90.95 while the 200 day moving average is 91.75. The company has a market cap of $1,573m. Company Website: https://www.oxfordinc.com [stock_market_widget type="chart" template="basic" color="green" assets="OXM" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $1,842m based on the market concensus. Oxford Industries, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men''s and women''s sportswear and related products under the Tommy Bahama brand; women''s and girl''s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children''s apparel and swimwear under the Lilly Pulitzer brand; and men''s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
Oxford Industries found using ticker (OXM) have now 6 analysts in total covering the stock. The consensus rating is ''Hold''. The target price ranges between 132 and 92 calculating the mean target price we have 113.17. Given that the stocks previous close was at 93.94 this would imply there is a potential upside of 20.5%. The 50 day MA is 89.71 and the 200 day moving average is 91.63. The market cap for the company is $1,538m. Find out more information at: https://www.oxfordinc.com [stock_market_widget type="chart" template="basic" color="green" assets="OXM" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $1,853m based on the market concensus. Oxford Industries, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men''s and women''s sportswear and related products under the Tommy Bahama brand; women''s and girl''s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children''s apparel and swimwear under the Lilly Pulitzer brand; and men''s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
Oxford Industries with ticker code (OXM) now have 6 analysts covering the stock with the consensus suggesting a rating of ''Hold''. The target price ranges between 132 and 92 and has a mean target at 113.17. With the stocks previous close at 92.85 this would indicate that there is a potential upside of 21.9%. The 50 day moving average now sits at 88.63 and the 200 day MA is 91.57. The market capitalisation for the company is $1,495m. Visit the company website at: https://www.oxfordinc.com [stock_market_widget type="chart" template="basic" color="green" assets="OXM" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $1,823m based on the market concensus. Oxford Industries, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men''s and women''s sportswear and related products under the Tommy Bahama brand; women''s and girl''s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children''s apparel and swimwear under the Lilly Pulitzer brand; and men''s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
https://www.investing.com/news/pro/piper-sandler-starts-oxford-industries-at-overweight-432SI-2851481
Oxford Industries with ticker code (OXM) now have 4 analysts covering the stock. The analyst consensus points to a rating of ''Hold''. The range between the high target price and low target price is between 132 and 92 calculating the mean target price we have 114.75. Now with the previous closing price of 85.08 this would imply there is a potential upside of 34.9%. The day 50 moving average is 88.28 and the 200 day MA is 91.64. The company has a market capitalisation of $1,328m. Company Website: https://www.oxfordinc.com [stock_market_widget type="chart" template="basic" color="green" assets="OXM" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $1,792m based on the market concensus. Oxford Industries, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men''s and women''s sportswear and related products under the Tommy Bahama brand; women''s and girl''s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children''s apparel and swimwear under the Lilly Pulitzer brand; and men''s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
Oxford Industries (NYSE:OXM) has declared $0.55/share quarterly dividend, in line with previous.Payable July 29; for shareholders of record July 15; ex-div July 14.See OXM Dividend…
Trading Report for Oxford Industries OXM With Buy and Sell Signals
Oxford Industries'' stock price declined, but sales and earnings growth remain strong. Read more to see why OXM has potential upside over the long term.
Oxford Industries found using ticker (OXM) have now 4 analysts covering the stock with the consensus suggesting a rating of ''Hold''. The range between the high target price and low target price is between 132 and 92 with a mean TP of 114.75. With the stocks previous close at 91.21 this indicates there is a potential upside of 25.8%. The 50 day MA is 89.5 and the 200 day MA is 91.66. The company has a market capitalisation of $1,333m. Company Website: https://www.oxfordinc.com [stock_market_widget type="chart" template="basic" color="green" assets="OXM" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $1,677m based on the market concensus. Oxford Industries, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men''s and women''s sportswear and related products under the Tommy Bahama brand; women''s and girl''s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children''s apparel and swimwear under the Lilly Pulitzer brand; and men''s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
Oxford Industries sees its Relative Strength Rating hit the 80-plus level.
Oxford Industries (NYSE: OXM ) showed a loss in earnings since Q4, totaling $34.89 million. Sales, on the other hand, increased by 20.05% to $265.76 million during Q1. Oxford Industries collected $221.37 million in revenue during Q4, but reported earnings showed a $16.62 million loss. Why ROCE Is Significant Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company''s ROCE. A higher Full story available on Benzinga.com
Oxford Industries (NYSE: OXM ) posted a 309.88% decrease in earnings from Q4. Sales, however, increased by 20.05% over the previous quarter to $265.76 million. Despite the increase in sales this quarter, the decrease in earnings may suggest Oxford Industries is not utilizing their capital as effectively as possible. Oxford Industries collected $221.37 million in revenue during Q4, but reported earnings showed a $16.62 million loss. Why ROCE Is Significant Changes in earnings and sales indicate shifts in Oxford Industries''s Return on Capital Employed, a measure Full story available on Benzinga.com
Oxford Industries, Inc. (OXM) recently announced a quarterly dividend of $0. The post Oxford Industries Hikes Dividend appeared first on Smarter Analyst .
In a report released yesterday, Telsey Advisory Group from Telsey Advisory maintained a Hold rating on Oxford Industries (OXM), with a price target The post Telsey Advisory Keeps a Hold Rating on Oxford Industries (OXM) appeared first on Smarter Analyst .
Oxford Industries with ticker code (OXM) now have 5 analysts covering the stock. The analyst consensus points to a rating of ''Buy''. The range between the high target price and low target price is between 135 and 112 calculating the mean target price we have 123.4. Now with the previous closing price of 98.1 this is indicating there is a potential upside of 25.8%. There is a 50 day moving average of 93.42 and the 200 day MA is 78.78. The market cap for the company is $1,793m. Find out more information at: /> [stock_market_widget type="chart" symbol="OXM" chart="bar" range="6mo" interval="1d" line-color="rgb(49, 125, 189)"] Oxford Industries, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men''s and women''s sportswear and related products under the Tommy Bahama brand; women''s and girl''s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children''s apparel under the Lilly Pulitzer brand; and men''s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
2021 is shaping up to be a great year for Oxford Industries.
Image: Lilly Pulitzer website Consolidated net sales in the first quarter at Oxford Industries were 266 million dollars compared to 160 million dollars and 282 million dollars in the first quarters of fiscal 2020 and fiscal 2019, respectively. Earnings on a GAAP basis increased to 1.70 dollars per share compared to a loss of 4.02 dollars in the first quarter of fiscal 2020 and earnings per share of 1.29 dollars in the first quarter of fiscal 2019. On an adjusted basis, earnings increased to 1.89 dollars per share compared to a loss of 1.12 dollars in the first quarter of fiscal 2020 and earnings of 1.30 dollars in the first quarter of fiscal 2019. The company noted that 14 million dollars of the 16 million dollars sales decrease from the first quarter of fiscal 2019 was due to lower sales in Lanier Apparel, which the company is exiting. Commenting on the first quarter performance, Thomas C. Chubb III, the companys chairman and CEO, said: Our focus over the past year on delivering happiness to our customers and investing in enhanced digital, marketing and store capabilities, as well as in bars and restaurants, have strengthened our foundation for profitable growth. Oxfords results against Q12019 Compared to the first quarter of fiscal 2019, full price e-commerce sales grew 55 percent to 74 million dollars, with growth in all branded businesses.
OXM earnings call for the period ending May 1, 2021.
(RTTNews) - Shares of Oxford Industries, Inc. (OXM) gained nearly 15% in extended session Wednesday after the company reported first-quarter results that trounced Wall Street estimates as well as lifted its full-year outlook. First-quarter net earnings were $28.5 million or $1.70 per share, compared to a loss of $66.8 million or $4.
ATLANTA (AP) _ Oxford Industries Inc. (OXM) on Wednesday reported fiscal first-quarter net income of $28.5 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Atlanta-based company said it had profit of $1.70. Earnings, adjusted for non-recurring costs, came to $1.89 per share. The results surpassed Wall [] The post Oxford Industries: Fiscal Q1 Earnings Snapshot appeared first on 660 NEWS .
ATLANTA, June 09, 2021 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE:OXM) today announced financial results for its fiscal 2021 first quarter ended May 1, 2021. Due to the material impact of COVID-19 on the Companys business in fiscal 2020, this release includes comparisons of fiscal 2021 results to both fiscal 2019 and fiscal 2020.
Oxford Industries, Inc. (OXM) shares closed 0.6% higher than its previous 52 week high, giving the company a market cap of $1B. The stock is currently up 48.6% year-to-date, up 77.1% over the past 12 months, and up 62.7% over the past five years. This week, the Dow Jones Industrial Average rose 0.3%, and the S&P 500 rose 0.5%. Trading Activity Trading volume this week was 32.9% lower than the 20-day average.Beta, a measure of the stocks volatility relative to the overall market stands at 1.5. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.MACD, a trend-following momentum indicator, indicates an upward trend.The stock closed below its Bollinger band, indicating it may be oversold. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Staples industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 190.9% The company's stock price performance over the past 12 months beats the peer average by 16.3% This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
Oxford Industries, Inc. (OXM) shares closed today at 0.7% below its 52 week high of $97.23, giving the company a market cap of $1B. The stock is currently up 45.5% year-to-date, up 73.5% over the past 12 months, and up 58.6% over the past five years. This week, the Dow Jones Industrial Average rose 0.7%, and the S&P 500 rose 0.6%. Trading Activity Trading volume this week was 35.3% lower than the 20-day average.Beta, a measure of the stocks volatility relative to the overall market stands at 1.5. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.MACD, a trend-following momentum indicator, indicates an upward trend.The stock closed below its Bollinger band, indicating it may be oversold. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Staples industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 174.0% The company's stock price performance over the past 12 months beats the peer average by 11.1% This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
ATLANTA, May 27, 2021 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE: OXM ) today announced the Company will be participating in Baird's 2021 Global Consumer, Technology & Services Conference to be held virtually on Thursday, June … Full story available on Benzinga.com
Oxford Industries, Inc. (OXM) shares closed today at 1.1% below its 52 week high of $95.17, giving the company a market cap of $1B. The stock is currently up 42.7% year-to-date, up 130.2% over the past 12 months, and up 55.6% over the past five years. This week, the Dow Jones Industrial Average rose 0.4%, and the S&P 500 rose 0.1%. Trading Activity Trading volume this week was 22.2% higher than the 20-day average.Beta, a measure of the stock’s volatility relative to the overall market stands at 1.6. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.MACD, a trend-following momentum indicator, indicates an upward trend.The stock closed below its Bollinger band, indicating it may be oversold. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Staples industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 55.1% The company's stock price performance over the past 12 months lags the peer average by -5.5% This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
Oxford Industries, Inc. shares closed today at 0.4% below its 52 week high of $94.32, giving the company a market cap of $1B. The stock is currently up 38.6% year-to-date, up 147.3% over the past 12 months, and up 43.0% over the past five years. This week, the Dow Jones Industrial Average fell 0.3%, and the S&P 500 rose 0.6%. Trading Activity Trading volume this week was 6.2% lower than the 20-day average.Beta, a measure of the stock’s volatility relative to the overall market stands at 1.7. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.MACD, a trend-following momentum indicator, indicates a downward trend.The stock closed below its Bollinger band, indicating it may be oversold. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Stables industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 74.1% The company's stock price performance over the past 12 months beats the peer average by 1.1% This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
Shares of Oxford Industries (NYSE:OXM) moved higher in after-market trading after the company reported Q4 results. Quarterly Results Earnings per share …
Shares of Oxford Industries (NYSE:OXM) rose 1.3% in after-market trading after the company reported Q3 results. Quarterly Results Earnings per share …
Oxford Industries announce their quarterly, annual earnings. See the latest EPS estimates. Listen to the conference call and remind yourself by…
Equities research analysts expect Oxford Industries, Inc. (NYSE:OXM) to post ($1.22) earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for Oxford Industries’ earnings, with the highest EPS estimate coming in at ($0.67) and the lowest estimate coming in at ($1.56). Oxford Industries posted earnings of $0.10 per share […]
With FQ2 overall reporting decline and swinging to net loss, Oxford Industries (OXM -14.1%) was downgraded to Neutral from Buy by Citi with a price target
Oxford Industries (NYSE:OXM) says all of its brands positively contributed to the 52% Y/Y pop in e-commerce sales during FQ2, with Lilly Pulitzer the stand
Oxford Industries (NYSE:OXM): Q2 Non-GAAP EPS of -$0.38 beats by $0.23; GAAP EPS of -$0.37 beats by $0.29. Revenue of $191.99M (-36.4% Y/Y) beats by $21.42
Oxford Industries (OXM) delivered earnings and revenue surprises of -1766.67% and -12.11%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
Oxford Industries (OXM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Oxford Industries (NYSE:OXM), which owns the Tommy Bahama, Lilly Pulitzer, and Southern Tide lifestyle brands, will temporarily close all owned retail stor
/NOT FOR DISSEMINATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA , ITS TERRITORIES AND POSSESSIONS, ANY STATES OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA ./ VANCOUVER , Dec. 24, 2019 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO ) (OTC: LGDOF ) (Frankfurt: OXD) advises that Namibia's Minister of Energy and Mines has confirmed that ReconAfrica's exploration licence covering its rights in the Kavango Basin has been approved for its First Renewal Period, and accordingly the exploration phase of the licence is renewed and continues until January 25, 2022 . "As anticipated, the Minister of Energy and Mines has renewed our exploration licence for a two year period," stated Jay Park , CEO of ReconAfrica. "ReconAfrica's exploration and development plans for the Kavango Basin extend well into the future, and this First Renewal Period reflects the Company's commitment to drill at least two wells during this phase.
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