Mr. Brian Reinsborough reports

RECONAFRICA ANNOUNCES ACCELERATION OF DRILLING INTO Q2 2025 AND A CORPORATE UPDATE

Reconnaissance Energy Africa Ltd. has accelerated the start of drilling into the second quarter of 2025, and has provided a corporate update.

Brian Reinsborough, president and chief executive officer, commented: "We have made great progress in getting prospect I ready to drill and, as a result, we are accelerating the spud date into Q2 2025. Our in-country teams have commenced community engagement, surveying, debushing and demining activities, which will be followed by construction of a 10-kilometre road and drill pad site.

"Prospect I is one of the largest mapped structures in the Damara fold belt, is well imaged from 2-D [two dimensional] seismic, and demonstrates a four-way dip closure in which we expect to penetrate over 1,500 metres of Otavi reservoir. Drilling at the prospect I location has been significantly derisked by the results of our first Damara fold belt well, Naingopo, which encountered reservoir in the Otavi carbonates, hydrocarbon shows and oil to surface. We are excited to drill this follow-on exploration well as we continue to look to unlock the significant hydrocarbon potential of the Damara fold belt."

Operational update

ReconAfrica continues to pursue activities relating to the drilling of prospect I. To date, initial surveying activity has been completed, with debushing activities continuing and demining activities set to be undertaken in the coming weeks. As a result of the progress to date, the company has accelerated the spud date for prospect I to Q2 2025.

Prospect I is targeting 365 million barrels of unrisked and 32 million barrels of risked prospective light/medium oil resources, or 1.7 trillion cubic feet of unrisked and 126 billion cubic feet of risked prospective natural gas resources, on a 100-per-cent working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell, & Associates Inc. (NSAI), an independent qualified reserves evaluator. Prospect I is noted as location 63 in the NSAI report.

Corporate update

As previously announced in a press release dated Feb. 28, 2024, following mediation with the plaintiffs in both the United States action and the Canadian action (as defined in the Feb. 28, 2024, press release), the parties entered into a global settlement agreement to resolve both cases. The Canadian action received final court approval on June 20, 2024. The U.S. action received final court approval on Dec. 30, 2024. This matter was fully resolved within the company's insured coverage limits.

About Reconnaissance Energy Africa Ltd.

ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara fold belt and Kavango rift basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the company holds petroleum licences comprising approximately eight million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in all of its project areas.

We seek Safe Harbor.