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Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO,OTC:RECAF) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) is pleased to provide an operational update regarding the Kavango West 1X exploration well.
Brian Reinsborough, President & CEO, commented "Drilling of the Kavango West 1X well is proceeding on schedule and I wish to thank our entire operations team for doing a great job on executing our drilling plan. The final casing string has been set at a depth of approximately 2,300 metres, just above the targeted Otavi reservoir. Currently, the well is drilling ahead into the Otavi carbonate reservoir, which is the primary target in the Damara Fold Belt. We anticipate drilling an extensive section of the potential reservoir, which will be followed by a full evaluation of the Otavi section. The Kavango West 1X well is testing a very large structural closure in the Otavi section measuring almost 20 kilometres long by 3 kilometres wide."
Drilling operations advanced ahead of schedule in the shallower section of the well, which caused a deferral of operations for several weeks at the current casing depth as the Company waited on casing strings for the final section of the well to be delivered to location. Operations have resumed and drilling remains on the original expected schedule. Recon anticipates being at total depth ("TD") in the second half of November. The Kavango West 1X well is expected to penetrate approximately 1,500 metres of potential reservoir before reaching TD at approximately 3,800 metres. Once at TD, an extensive logging program will commence with results expected to be made public around year-end.
Communications from the Company regarding the Kavango West 1X drilling details from this point until reaching TD will be under "tight hole" status, meaning that Recon will not provide indications of well results prior to final logging of the Otavi reservoir section. Strict adherence to tight hole status prior to the Company obtaining logging results should not be interpreted as being either negative or positive. Any drilling updates provided between now and the completion of logging of the Otavi reservoir zone will only include an updated drilling depth.
About ReconAfrica
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, southeastern Angola and northwestern Botswana, where the Company holds petroleum licences and access to ~13 million contiguous acres. The Company also operates the Ngulu block in the shallow waters offshore Gabon. 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 its project areas.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Brian Reinsborough, President and Chief Executive Officer
Mark Friesen, Vice President, Investor Relations & Capital Markets
IR Inquiries Email: investors@reconafrica.com
Media Inquiries Email: media@reconafrica.com
Tel: +1-877-631-1160
Cautionary Note Regarding Forward-Looking Statements:
Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to progress of the KW1X well, total depth reached, timing to reach total depth, well results, timing of well results, whether any additional testing is required, the timing of such testing, if any and the Company's commitment to minimal disturbance of habitat, in line with best international standards and its implementation of environmental and social best practices in its project areas. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on ReconAfrica's current belief or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the "Risk Factors" section in the Company's annual information form ("AIF") dated April 29, 2025, for the financial period ended December 31, 2024, available under the Company's profile at www.sedarplus.ca. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
