ReconAfrica Provides a Corporate Operational Update
ReconAfrica (OTCQX: RECAF) has announced key operational updates for its Kavango West 1X exploration prospect in Namibia. The company is set to spud its second test well in the Damara Fold Belt play before the end of July 2025. The exploration well will reach a total depth of 3,800 meters and target over 1,500 meters of Otavi carbonate reservoir section.
The prospect covers a large structural fold spanning 22 kilometers long by 3 kilometers wide. ReconAfrica has identified over 19 prospects and leads in the Damara Fold Belt trend, with an additional 5.0 million acres secured in Angola through a recent MOU. Additionally, the company announced that Corporate Director Iman Hill will resign effective July 31, 2025, reducing the Board to five members.
ReconAfrica (OTCQX: RECAF) ha annunciato aggiornamenti operativi importanti per il suo progetto esplorativo Kavango West 1X in Namibia. La società prevede di iniziare la perforazione del suo secondo pozzo di prova nella zona del Damara Fold Belt entro la fine di luglio 2025. Il pozzo esplorativo raggiungerà una profondità totale di 3.800 metri e punterà a oltre 1.500 metri di sezione di reservoir carbonatico Otavi.
Il progetto copre una grande piega strutturale di 22 chilometri di lunghezza per 3 chilometri di larghezza. ReconAfrica ha identificato oltre 19 prospetti e potenziali aree nella tendenza del Damara Fold Belt, con un'aggiunta di 5,0 milioni di acri acquisiti in Angola tramite un recente memorandum d'intesa. Inoltre, la società ha annunciato che la Direttrice Corporate Iman Hill si dimetterà con effetto dal 31 luglio 2025, riducendo il Consiglio di Amministrazione a cinque membri.
ReconAfrica (OTCQX: RECAF) ha anunciado actualizaciones operativas clave para su prospecto exploratorio Kavango West 1X en Namibia. La compañía planea iniciar la perforación de su segundo pozo de prueba en la zona de Damara Fold Belt antes de finales de julio de 2025. El pozo exploratorio alcanzará una profundidad total de 3.800 metros y tendrá como objetivo más de 1.500 metros de sección de reservorio carbonatado Otavi.
El prospecto cubre un gran pliegue estructural que se extiende 22 kilómetros de largo por 3 kilómetros de ancho. ReconAfrica ha identificado más de 19 prospectos y posibles objetivos en la tendencia del Damara Fold Belt, con un adicional de 5,0 millones de acres asegurados en Angola a través de un reciente memorando de entendimiento. Además, la compañía anunció que la Directora Corporativa Iman Hill renunciará con efecto el 31 de julio de 2025, reduciendo la Junta Directiva a cinco miembros.
ReconAfrica (OTCQX: RECAF)는 나미비아의 Kavango West 1X 탐사 전망지에 대한 주요 운영 업데이트를 발표했습니다. 회사는 2025년 7월 말 이전에 Damara Fold Belt 지역에서 두 번째 시험정 시추를 시작할 예정입니다. 탐사정은 총 깊이 3,800미터에 도달하며 1,500미터 이상의 Otavi 탄산염 저류층 구간을 목표로 합니다.
이 전망지는 길이 22킬로미터, 너비 3킬로미터에 달하는 큰 구조적 주름을 포함합니다. ReconAfrica는 Damara Fold Belt 트렌드에서 19개 이상의 전망지와 잠재 지역을 확인했으며, 최근 양해각서(MOU)를 통해 앙골라에서 추가로 500만 에이커를 확보했습니다. 또한, 회사는 기업 이사인 Iman Hill이 2025년 7월 31일부로 사임하여 이사회가 5명으로 축소된다고 발표했습니다.
ReconAfrica (OTCQX : RECAF) a annoncé des mises à jour opérationnelles clés pour son prospect d'exploration Kavango West 1X en Namibie. La société prévoit de forer son deuxième puits d'essai dans la zone du Damara Fold Belt avant la fin juillet 2025. Le puits d'exploration atteindra une profondeur totale de 3 800 mètres et ciblera plus de 1 500 mètres de section de réservoir carbonaté Otavi.
Le prospect couvre un grand pli structurel s'étendant sur 22 kilomètres de long sur 3 kilomètres de large. ReconAfrica a identifié plus de 19 prospects et pistes dans la tendance du Damara Fold Belt, avec un ajout de 5,0 millions d'acres sécurisés en Angola via un protocole d'accord récent. De plus, la société a annoncé que la directrice d'entreprise Iman Hill démissionnera à compter du 31 juillet 2025, réduisant ainsi le conseil d'administration à cinq membres.
ReconAfrica (OTCQX: RECAF) hat wichtige betriebliche Updates für das Explorationsprojekt Kavango West 1X in Namibia bekannt gegeben. Das Unternehmen plant, vor Ende Juli 2025 den zweiten Testbohrungsschacht im Damara Fold Belt zu bohren. Der Explorationsbohrung wird eine Gesamttiefe von 3.800 Metern erreichen und zielt auf über 1.500 Meter Otavi-Karbonat-Reservoirabschnitt ab.
Das Prospekt umfasst eine große strukturelle Falte von 22 Kilometern Länge und 3 Kilometern Breite. ReconAfrica hat über 19 Prospekte und mögliche Ziele im Damara Fold Belt Trend identifiziert und zusätzlich 5,0 Millionen Acres in Angola durch ein kürzliches Memorandum of Understanding gesichert. Außerdem gab das Unternehmen bekannt, dass die Corporate Director Iman Hill zum 31. Juli 2025 zurücktritt, wodurch der Vorstand auf fünf Mitglieder reduziert wird.
- Drilling rig successfully moved on-site with all necessary regulatory permits secured
- Large-scale prospect covering 22km x 3km structural fold identified on modern 2D seismic
- Company has mapped over 19 prospects in the Damara Fold Belt trend
- Secured additional 5.0 million acres in Angola through recent MOU
- Loss of board member Iman Hill reducing board size to five members
CALGARY, Alberta, July 22, 2025 (GLOBE NEWSWIRE) -- Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) provides an operational update on the Kavango West 1X exploration prospect and announces the resignation of Iman Hill as a Corporate Director of the Company effective July 31, 2025.
Kavango West 1X (Prospect I) – Spud scheduled before end of July
The drilling rig has been safely moved on-site and all necessary permits required to spud the well have been received by the Company from the various regulators. Final drill-rig assembly and safety checks are underway and the Kavango West 1X exploration well is scheduled to spud before the end of July. The well is planned to reach total depth (TD) of approximately 3,800 metres (12,500 feet) and is expected to penetrate over 1,500 metres of Otavi carbonate reservoir section, which is the primary target of the Damara Fold Belt play.
The Kavango West 1X exploration well will be the second test in the expansive Damara Fold Belt play. The prospect is a large structural fold identified on modern 2D seismic data, which extends over 22 kilometers long by three kilometers wide. The Company has identified over 19 prospects and leads mapped in the Damara Fold Belt trend, with an additional 5.0 million acres captured in a recently executed Memorandum of Understanding in offsetting Angola.
Brian Reinsborough, President and CEO of ReconAfrica stated: “Everyone at the Company has worked diligently to get drill-ready on the Kavango West 1X prospect and we are excited to spud the well in the coming days. We recognize the importance of this play opening well holds for our shareholders, the local communities in which we operate and the broader energy industry in Namibia. We are committed to remaining engaged with local communities and authorities and to ensuring the safe and efficient operation of this well.”
Board of Directors Update
Iman Hill, who was appointed a Director of ReconAfrica in August 2023, has resigned from the Board of Directors effective July 31, 2025, due to foreign work obligations. Following Iman’s resignation, the Board of Directors will consist of five members, three of whom are independent directors. Currently, the Board of Directors intends to remain at five seats.
Diana McQueen, Board Chair of ReconAfrica commented: “We thank Iman for her work and guidance over the past two years and wish her well in her future endeavors.
With respect to the Kavango West 1X well, ReconAfrica wishes to thank all community and regulatory stakeholders in Namibia for working with the Company to bring the well to the current drill-ready stage. ReconAfrica remains engaged with its stakeholders and is focused on operations that are safe for all employees and neighbouring communities, as well as wildlife and the environment.”
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 comprising ~13 million contiguous acres. 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, Managing Director, 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 the expected including timing of spud of the Kavango West 1X well, the well being drilled to a planned total depth of approximately 3,800 metres (12,500 feet), timing to reach total depth of the well 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.
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