Reconnaissance Energy Africa (TSXV:RECO) Long-Term Capital Lease Obligation : C$0.00 Mil (As of Dec. 2023)

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What is Reconnaissance Energy Africa Long-Term Capital Lease Obligation?

Reconnaissance Energy Africa's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.00 Mil.

Reconnaissance Energy Africa Long-Term Capital Lease Obligation Historical Data

The historical data trend for Reconnaissance Energy Africa's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Reconnaissance Energy Africa Long-Term Capital Lease Obligation Chart

Reconnaissance Energy Africa Annual Data

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Long-Term Capital Lease Obligation

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Reconnaissance Energy Africa Quarterly Data
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Reconnaissance Energy Africa (TSXV:RECO) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Reconnaissance Energy Africa (TSXV:RECO) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Reconnaissance Energy Africa Ltd (TSXV:RECO) » Definitions » Long-Term Capital Lease Obligation

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RECAF:USA 0XD:Germany

Address

Bentall, PO Box 48326, Vancouver, BC, CAN, V7X 1A1

Website

https://www.reconafrica.com

Reconnaissance Energy Africa Ltd is a junior oil and gas company engaged in the exploration and development of oil and gas in Namibia and Botswana. It holds a substantial interest in a petroleum exploration license in northeast Namibia which covers the entire Kavango sedimentary basin. The Company's operating segments are: the exploration and evaluation of its African assets; the oil and gas operations in Mexico; and the corporate segment. The Mexico segment derives its revenues solely from the production and sale of oil and natural gas from one customer.

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