VANCOUVER, BC, June 25, 2020 /CNW/ - Reconnaissance Energy
Africa Ltd. (the "Company" or
"ReconAfrica") (TSXV: RECO) (OTC: RECAF) (Frankfurt: 0XD) is pleased to announce, in
preparation for the upcoming drilling program in the Kavango Basin,
the appointment of Mr. Nick
Steinsberger as Senior Vice President, Drilling and
Completions.
Nick Steinsberger brings
32 years' experience in petroleum engineering, drilling and
completions, production, and surface facilities to ReconAfrica as
the Company commences the first drilling program in the newly
discovered Kavango sedimentary basin, in Namibia and Botswana. Nick will be
responsible for both the management of the Company's Crown 750
drilling rig and the drilling and completion of the initial
drilling program, scheduled for Q4 of 2020.
Mr. Steinsberger began his career as Completions Manager
for Mitchell Energy in 1988 and was responsible for completing the
first 25 horizontal shale wells ever drilled and completed in the
Barnett Shale in Texas,
transforming the Barnett into industry's first commercial shale
play and ultimately one of the largest gas fields in the
USA reaching peak production of
5.75 Billion Cubic Feet per day in 2012. Based on its success in
the Barnett, Mitchell Energy was sold to Devon Energy for
$3.1 Billion in 2002.
"Nick is the pioneer of 'slick water fracs', a technique
which transformed the economics and productivity of the Barnett
shale and is now utilized in all commercial shale plays worldwide",
stated Scot Evans, ReconAfrica's
COO. "He is considered a world leader in completions and well
design, and has supervised over 1500 well programs in North
American conventional and unconventional plays."
ReconAfrica is a junior oil and gas company engaged
in the opening of the newly discovered deep Kavango Sedimentary
Basin, in northeastern Namibia and
northwestern Botswana where the
Company holds petroleum licenses comprising approximately 8.75
million contiguous acres.
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.
Cautionary Statements: Certain statements
contained in this press release constitute forward-looking
information. 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.
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.
SOURCE Reconnaissance Energy Africa Ltd.