Wood MacKenzie
Study of the Kavango Basin Now Available
VANCOUVER, BC, Jan. 5, 2021 /CNW/ - Reconnaissance Energy
Africa, Ltd. (the "Company" or
"ReconAfrica") (TSXV: RECO) (OTCQX: RECAF)
(Frankfurt: 0XD) is pleased to
provide the following updates:
Exploration License 001/2020
ReconAfrica recognizes and accepts the importance of pertinent
cultural and historical sites. As such the Tsodilo Hills, located
in north-west Botswana near the Namibian Border, an
UNESCO World Heritage Site, has always been recognized by our
Company, as a site with this specific, highly important,
designation.
To this regard, ReconAfrica and the Government of
Botswana began a process in October of 2020 to address this
important issue. As a direct result of our collaborative process,
the Republic of Botswana has now
issued an updated License to ReconAfrica excluding ReconAfrica's
entire Core and Buffer areas of the Tsodilo Hills. The License area
is now 8990 km2 (2,221,000 acres) versus the previous 9,921 km2
(2,450,000 acres). ReconAfrica is pleased with this preferred
structure as our Company has never had plans for operations in the
Tsodilo Hills area. ReconAfrica follows strict environment, social
and governance protocols.
ReconAfrica is committed to establishing operational
transparency and working with all local and national stakeholders.
In all aspects of its operations, ReconAfrica is committed to
minimal disturbances in line with international best
standards and will implement environmental and social best
practices in all of its project areas.
Wood Mackenzie Report on Kavango Basin
Wood Mackenzie, one of the world's leading natural resources
research and consulting firms has released a report on analogous
subsurface basins to the Kavango Basin, which is held by
ReconAfrica under licence contracts. The study detailed three
world-class basins of similar age and/or tectonic origin; the
Midland-Permian Basin (Texas), the
Southern North Sea Basin, and the Doba Basin in Chad (Africa). The report demonstrates how the
Kavango Basin is analogous to all three, but particularly to the
sizable Midland Basin. This basin is of the same age (Permian) as
the Kavango and has produced from low-cost conventional reservoirs
since the 1930's, the same targets ReconAfrica is
pursuing.
The Report is now available for download from the ReconAfrica
website.
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 8.5
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.