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Reconnaissance Energy Africa Ltd
Symbol RECO
Shares Issued 201,226,424
Close 2022-06-27 C$ 5.57
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Reconnaissance Energy, NAMCOR spud 8-2 well in Namibia

2022-06-28 10:56 ET - News Release

Mr. Scot Evans reports

RECONAFRICA AND NAMCOR ANNOUNCE THE SPUD OF THE FIRST OF FOUR OIL TARGETS IN THE KAVANGO BASIN

Reconnaissance Energy Africa Ltd. and its joint venture partner, NAMCOR (the state oil company of Namibia), spudded the 1819/8-2 (8-2) well on June 25, 2022.

Drilling operations

This initial four-well program will be executed continuously and will target seismically defined structures with the objective of testing two of the three play types; oil-prone Karoo rift fill and intra-rift fault block plays.

The 8-2 well will be drilled to a planned depth of approximately 2,800 metres (9,184 feet); it is designed to test potential conventional oil and associated natural gas reservoirs in clastic rocks (sandstones) in the Karoo rift fill, the company's primary play. The well will also be drilled deeper into the pre-Karoo Mulden and Otavi formations. These intervals correspond to zones in the company's first well, the 6-2, which is approximately 6.5 kilometres to the east, that had good oil and gas shows. It is anticipated the well will reach total depth within 60 days from the initial spud.

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 disturbance of habitat, in line with best international standards, and will implement environmental and social best practices in all of its project areas.

We seek Safe Harbor.

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