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Reconnaissance Energy Africa Ltd
Symbol RECO
Shares Issued 187,169,493
Close 2021-10-21 C$ 5.95
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Reconnaissance completes seismic program in Kavango

2021-10-21 12:47 ET - News Release

Mr. Scot Evans reports

RECONAFRICA SUCCESSFULLY COMPLETES THE FIRST SEISMIC PROGRAM IN THE KAVANGO BASIN, N.E. NAMIBIA

Reconnaissance Energy Africa Ltd. and its joint venture partner, NAMCOR (the state oil company of Namibia), have completed the first seismic acquisition program ever conducted in the Kavango basin, in northeast Namibia.

Seismic operations

The seismic program comprises 450 linear kilometres of high-quality two-dimensional (2-D) seismic data which was acquired within budget and on schedule. During the campaign 150,000 human hours were utilized, of which 80 per cent were Namibian nationals recruited nationally and, predominantly, from local communities.

"We are very proud to have successfully completed this program, which is the first seismic program conducted in the Kavango basin. Importantly, the program was conducted without accidents or adverse safety incidents to our employees and contractors. We have also been very successful in protecting the health of our workers despite conducting the campaign during the COVID-19 global pandemic," said Shiraz Dhanani, lead geophysicist. During his long career working on five continents, Mr. Dhanani has conducted seismic operations worldwide with BP and ExxonMobil. A significant part of his professional life has been focused on oil and gas exploration in Africa.

The seismic data processing contract was awarded to Down Under Geophysical in Houston, Tex., and Absolute Imaging in Calgary, Alta. in June, 2021. These two leading geophysical companies were selected to process the data simultaneously in order to capture best practices in the industry and maximize the quality of structural imaging. The processing of all seismic data and comprehensive interpretation is expected to be finalized by early December.

Mr. Dhanani went on to state: "ReconAfrica has successfully drilled two important stratigraphic wells that clearly established the presence of a working petroleum system and conventional reservoirs. With the successful completion of this seismic program, ReconAfrica intends to commence a multiwell drilling campaign in early Q1 2022, targeting seismically defined traps and conventional reservoirs already encountered in the stratigraphic wells."

Reconnaissance Energy Africa acknowledges the outstanding contribution made by Polaris Natural Resources Inc., of Calgary, Alta., the principal seismic acquisition contractor, to the success of this seismic campaign.

Environmental, social and governance (ESG)

Working with local and state water authorities, Reconnaissance Energy Africa has now drilled and completed 14 solar-powered community water wells in rural areas of both the Kavango East and Kavango West regions in which the company operates. As well, two water wells associated with the company's first two stratigraphic wells have been handed over to the local community members residing in the vicinity of these wells. Consequently, 16 community water wells are now in operation.

Furthermore, the company, working with relevant government authorities, is identifying optimum locations and permitting the drilling of another six community water wells in both the Kavango East and Kavango West regions.

Reconnaissance Energy Africa continues its commitment to local hiring with over 300 Namibian residents employed to date. The company has a strong commitment to gender diversity and continues to increase the number of women hired locally.

About Reconnaissance Energy Africa Ltd.

Reconnaissance Energy Africa 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, Reconnaissance Energy Africa is committed to minimal disturbance of habitat, in line with best international standards, and will implement environmental and social best practices in all of its project areas.

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