ReconAfrica's Exploration Activities in Africa: A Detailed Overview

Nov 06, 2025 0

ReconAfrica, a Canadian oil and gas company (TSXV: RECO, OTC: RECAF, Frankfurt: 0XD, NSX: REC), is actively involved in the exploration of the Damara Fold Belt and Kavango Rift Basin, located in the Kalahari Desert of northeastern Namibia, southeastern Angola, and northwestern Botswana. The Company holds petroleum licenses and access to approximately 13 million contiguous acres in this region. ReconAfrica 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.

Kalahari Desert

Kavango West 1X Exploration Well

The Company spud the Kavango West 1X exploration well on July 31, 2025, and the well is currently drilling as planned. 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.

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.

Read also: A Deep Dive into ReconAfrica

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.

ReconAfrica Concessions Map

Naingopo Exploration Well

With our recently completed upsized bought deal financing we are now in a position to commence drilling of the Naingopo exploration well (also referred to as Prospect L), in the Damara Fold Belt. Demining and brush clearing activities on Prospect L were completed in March 2024. Heavy equipment and key personnel are now in the field with construction of the well pad and access roads now commencing.

The Company has commenced the major civil works associated with building access roads to the well site with the primary contractor having mobilized equipment and personnel to the region. The Company is in the process of completing the drilling of the water well necessary for the completion of major civil works and drilling operations. On completion of the civil works, access road and wellsite construction, the Jarvie-1 drilling rig will be mobilized for drilling.

The Company expects to begin drilling the first Damara Fold Belt exploration well, Naingopo (Prospect L), in June 2024. The well is expected to drill to a depth of approximately 12,500 feet or 3,800 meters and is projected to encounter four primary reservoir intervals targeting both oil and natural gas. The Company has been in contact with key drilling personnel who have agreed to rejoin the Company in preparation for the upcoming drilling program and will be mobilizing to Namibia in May and June.

Prospect P

Following the drilling of the Naingopo well, ReconAfrica is planning to drill a second Damara Fold Belt well, Prospect P, targeting 278 million barrels of unrisked prospective oil resources, or 1.5 trillion cubic feet of unrisked prospective natural gas resources, based on the NSAI Report. The Company has provided interested third parties with bid instructions and guidelines. Initial bids are expected this month and will be reviewed and negotiated as necessary by management.

Prospect I

We have made great progress in getting Prospect I ready to drill and, as a result, we are accelerating the spud date into Q2 2025. Prospect I is one of the largest mapped structures in the Damara Fold Belt, is well imaged from 2D seismic, and demonstrates a four-way dip closure in which we expect to penetrate over 1,500 metres of Otavi reservoir. Drilling at the Prospect I location has been significantly derisked by the results of our first Damara Fold Belt well, Naingopo, which encountered reservoir in the Otavi carbonates, hydrocarbon shows and oil to surface. ReconAfrica continues to pursue activities relating to the drilling of Prospect I. To date, initial surveying activity has been completed, with debushing activities ongoing and demining activities set to be undertaken in the coming weeks.

Namibia International Energy Conference

ReconAfrica is a sponsor of the 2024 Namibia International Energy Conference taking place in Windhoek, Namibia from April 23 to April 25, 2024. The Company will be participating in two key industry panels with representation from President and CEO, Brian Reinsborough, and Reconnaissance Energy Namibia ("REN"), Vice President and General Manager, Robert Mwanachilenga. Additionally, Mwanyengwa Ndapewoshali Shapwanale, Director of Communication and Stakeholder Relations with REN, will be a moderator at the conference.

Community Engagement

We are meeting with our partner NAMCOR and the Ministry of Mines and Energy this week to finalize the detailed drilling program and future drilling and subsurface data acquisition plans. We thank them for their continued support and are encouraged by the overwhelming support from the people in Namibia, particularly those in the Kavango East and Kavango West regions. We have recently met with both governors of the Kavango region, who continue to express gratitude for Recon's safe activities and community involvement. To date we have employed over 1,350 people from the region and our 36 community water wells have positively impacted the lives of over 10,000 people.

Read also: Amazing Facts About Africa

Community Water Well

Prospective Resources

Prospective resources are those quantities of oil estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. Prospective resources are the arithmetic sum of multiple probability distributions. Unrisked prospective resources are estimates of the volumes that could reasonably be expected to be recovered in the event of the discovery and development of these prospects. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

The NSAI Report was prepared in accordance with the definitions and guidelines of the Canadian Oil and Gas Evaluation Handbook prepared jointly by the Society of Petroleum and Engineers (Calgary Chapter) (the "COGE Handbook") and the Canadian Institute of Mining, Metallurgy & Petroleum and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101").

The prospective resources shown in the NSAI Report have been estimated using probabilistic methods and are dependent on a petroleum discovery being made. If a discovery is made and development is undertaken, the probability that the recoverable volumes will equal or exceed the unrisked estimated amounts is 90 percent for the low estimate, 50 percent for the best estimate, and 10 percent for the high estimate. Low estimate and high estimate prospective resources have not been included in the NSAI Report.

For the purposes of the NSAI Report, the volumes and parameters associated with the best estimate scenario of prospective resources are referred to as 2U. The 2U prospective resources have been aggregated beyond the prospect and lead level by arithmetic summation; therefore, these totals do not include the portfolio effect that might result from statistical aggregation.

Forward-Looking Statements

This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") that are based on ReconAfrica's current expectations, estimates, forecasts, and projections. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements and include statements regarding management's expectation anticipated production timeline; management's exploration and development plans; and all other expectations, intentions , and plans that are not historical fact.

Forward ‐ looking statements are based on a number of material factors, expectations, or assumptions of ReconAfrica which have been used to develop such statements and information, but which may prove to be incorrect. Although ReconAfrica believes that the expectations reflected in such forward ‐ looking statements are reasonable, undue reliance should not be placed on forward ‐ looking statements because ReconAfrica can give no assurance that such expectations will prove to be correct.