VANCOUVER, BC, Aug. 17, 2022 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) announces that it has received a three year extension to its Environmental Clearance Certificate (the "ECC"), from the Office of the Environmental Commissioner, Ministry of Environment, Forestry and Tourism of the Republic of Namibia, covering the entire PEL 73 permit, which covers over 6.3 million acres (25,000 km2), in northeast Namibia.
The ECC authorizes ReconAfrica, to continue drilling stratigraphic test wells, to depths, approved by Ministry of Mines and Energy and NAMCOR as well as completing a sidetrack of the Company's first well, Kawe 6-2, in the Kavango Basin. The extended ECC is valid for three years from August 26, 2022 until August 26, 2025. The ECC extension was approved on August 11, 2022.
Scot Evans, Chief Executive Office of ReconAfrica stated:
"The extension of the Environmental Clearance Certificate was underpinned by extensive on-the-ground and research based data gathering by our technical teams working in combination with our third-party technical partners. The extension further demonstrates how ReconAfrica is working collaboratively with our interested and impacted stakeholders in Namibia including local and national government entities/representatives, as well as with the Traditional Authorities, as we pursue the commercial development of the Kavango Basin. The extension enables the Company to plan and execute our current stratigraphic drilling and sidetrack programs."
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 approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat, in line with best 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 commitment to minimal disturbances in line with international best 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 amended and restated annual information form dated May 19, 2021, 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.
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