VANCOUVER, BC, July 12,
2023 /CNW/ - Reconnaissance Energy Africa Ltd. (the
"Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF)
(Frankfurt: 0XD) announces it has
received its Environmental Clearance Certificate ("ECC") from the
Office of the Environmental Commissioner, Ministry of Environment,
Forestry and Tourism, covering PEL 73 licence, which extends over
an area of ~6.3 million acres (~25,000 km2), in northeastern
Namibia.
The ECC authorizes ReconAfrica to commence the drilling of an
additional 12 exploration and appraisal wells, to unrestricted
depths, in the Kavango Basin, in Namibia from July 4,
2023, until July 4, 2026. The
primary objective of the upcoming drilling program is to establish
commercial accumulations of oil and or natural gas and natural gas
liquids which were identified in the first three stratigraphic test
wells. Management's current focus in the 3rd & 4th quarter of
2023 is developing and prioritizing its prospect inventory in order
to execute a multi-well drilling program targeting both primary
plays; the Damara Fold Belt and the Karoo Rift Basin, with initial
emphasis on the Damara Fold Belt as detailed in the Company's
June 26, 2023, news release.
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the
opening of the newly discovered deep Kavango Sedimentary Basin in
the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum
licences comprising ~8 million contiguous acres. In all aspects of
its operations ReconAfrica is committed to minimal disturbance of
habitat in line with international standards and will implement
environmental and social best practices in all of 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.
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 Company's primary objective of the
upcoming drilling program being to establish commercial
accumulations of oil and or natural gas and natural gas liquids
which were identified in the first three stratigraphic test wells,
management's current focus being to develop and prioritize its
prospect inventory in order to execute a multi-well drilling
program targeting both primary plays; the Damara Fold Belt and the
Karoo Rift Basin, with initial emphasis on the Damara Fold Belt,
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 all of 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 dated June 20,
2023, available under the Company's profile at
www.sedar.com.
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.