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Reconnaissance Energy Africa Ltd
Symbol RECO
Shares Issued 162,549,846
Close 2021-07-06 C$ 11.95
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ReconAfrica receives 2-D seismic permit for Kavango

2021-07-07 02:40 ET - News Release

Mr. Scot Evans reports

RECONAFRICA & NAMCOR GRANTED 2D SEISMIC PERMIT FOR THE KAVANGO BASIN, NAMIBIA

The Republic of Namibia's Ministry of Environment, Forestry and Tourism issued on July 2, 2021, the environmental clearance certificate (ECC) for Reconnaissance Energy Africa Ltd.'s initial 2-D seismic program to be conducted in the petroleum exploration licence No. 73 in the Kavango East and West regions of northeast Namibia.

Seismic operations

With the ECC (seismic permit) now in place, ReconAfrica and NAMCOR (the National Oil Company of Namibia) have begun acquisition of the initial 450-kilometre 2-D seismic program in the Kavango basin. Acquisition is expected to commence during the third week of July for an anticipated duration of six to eight weeks.

The program provider is Polaris Natural Resources Inc., Canada's longest-standing geophysical contractor, which was selected through a competitive bidding process. Polaris offers its own patented seismic source, the Explorer 860 accelerated weight drop.

All three Explorer 860 source units have arrived at Polaris's newly established base in Rundu, Namibia. Polaris anticipates hiring approximately 100 local personnel with line crew training starting July 6. This low-impact seismic program will be conducted along existing roadways during daylight hours to minimize wildlife disturbance.

Scot Evans, ReconAfrica chief executive officer, said: "Now that the first two wells have successfully established an active conventional petroleum system in the Kavango basin, we are moving to the next phase of the exploration process: acquisition, processing and interpretation of the first regional seismic grid in this newly identified sedimentary basin. The program will provide the regional geologic structural and stratigraphic framework and identify conventional hydrocarbon accumulations, with the goal of commercializing this potential major source of energy for Namibia."

Polaris chief operating officer Joe Little stated: "The acquisition plan is progressing very well for a successful recording launch in mid-July. Given our past success with the environmentally friendly Explorer 860 source units on past projects in Africa and given the very high resolution parameters designed by ReconAfrica's seismic team, we anticipate getting excellent data results on the project."

Drilling operations

ReconAfrica is currently drilling ahead on the 6-1 well, anticipating reaching total depth on or before July 11. Immediately after reaching total depth, ReconAfrica will commence logging and coring operations designed to maximize hydrocarbon recovery. These operations will be conducted using Schlumberger technology.

About Reconnaissance Energy Africa Ltd.

ReconAfrica is a Canadian oil and gas company engaged in the opening of the newly discovered deep Kavango sedimentary basin in the Kalahari desert of northeastern Namibia and northwestern Botswana, where the company holds petroleum licences comprising approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica 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.

We seek Safe Harbor.

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