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Reconnaissance Energy Africa Ltd
Symbol RECO
Shares Issued 109,621,157
Close 2021-01-04 C$ 2.05
Recent Sedar Documents

Reconnaissance Energy excludes UNESCO heritage sites

2021-01-05 00:16 ET - News Release

Mr. Scot Evans reports

REPUBLIC OF BOTSWANA AND RECONAFRICA AMEND EXPLORATION LICENSE TO EXCLUDE ENTIRE TSODILO HILLS AREA

Reconnaissance Energy Africa Ltd. has provided the following updates.

Exploration licence 001/2020

Reconnaissance recognizes and accepts the importance of pertinent cultural and historical sites. As such, the Tsodilo Hills, located in northwest Botswana near the Namibian border, a UNESCO World Heritage site, has always been recognized by the company as a site with this specific, highly important designation.

To this regard, Reconnaissance and the government of Botswana began a process in October of 2020 to address this important issue. As a direct result of the collaborative process, the Republic of Botswana has now issued an updated licence to Reconnaissance excluding Reconnaissance's entire Core and Buffer areas of the Tsodilo Hills. The licence area is now 8,990 square kilometres (2,221,000 acres) versus the previous 9,921 square kilometres (2.45 million acres). Reconnaissance is pleased with this preferred structure as the company had never had plans for operations in the Tsodilo Hills area. Reconnaissance follows strict environment, social and governance protocols.

Reconnaissance is committed to establishing operational transparency and working with all local and national stakeholders. In all aspects of its operations, Reconnaissance is committed to minimal disturbances in line with international best standards, and will implement environmental and social best practices in all of its project areas.

Wood Mackenzie report on Kavango basin

Wood Mackenzie, one of the world's leading natural resource research and consulting firms, has released a report on analogous subsurface basins to the Kavango basin, which is held by Reconnaissance under licence contracts. The study detailed three world-class basins of similar age and/or tectonic origin: the Midland-Permian basin (Texas), the Southern North Sea basin and the Doba basin in Chad (Africa). The report demonstrates how the Kavango basin is analogous to all three, but particularly to the sizable Midland basin. This basin is of the same age (Permian) as the Kavango and has produced, from low-cost conventional reservoirs since the 1930s, the same targets Reconnaissance is pursuing.

The report is now available for download from the Reconnaissance website.

Reconnaissance is a junior oil and gas company engaged in the opening of the newly discovered deep Kavango sedimentary basin in northeastern Namibia and northwestern Botswana, where the company holds petroleum licences comprising approximately 8.5 million contiguous acres.

We seek Safe Harbor.

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