Chame Energy Corporation entered into a definitive agreement to acquire Renaissance Oil Corp. from Reconnaissance Energy Africa Ltd. (TSXV:RECO) for approximately $110 million on October 25, 2023. In addition, under the Agreement Chame will assume all debts of RenCan and its subsidiaries, along with all present and future liabilities of RenCan and its subsidiaries. Brian Reinsborough, President and CEO of RECO stated that transaction provides the Company with access to working capital while allowing to exit Mexico and remove the legacy liabilities from company's balance sheet in excess of $100 million. Closing of the transaction is subject to acceptance by the TSX Venture Exchange ("TSXV").

Chame Energy Corporation completed the acquisition of Renaissance Oil Corp. from Reconnaissance Energy Africa Ltd. (TSXV:RECO) on November 10, 2023.