Reconnaissance Energy Africa Ltd. (ReconAfrica)

Reconnaissance Energy Africa, or ReconAfrica, is a publicly traded (TSXV: RECO, US OTC: RECAF, Germany: 0XD, Market Cap. ~C$325 million), Canadian oil and gas company engaged in the exploration and appraisal of Petroleum Exploration Licence 73 (“PEL 73”) in northeastern Namibia and Petroleum Exploration Licence 001 (“PEL 001”), in northwestern Botswana. The Company holds petroleum licences comprising over 8 million contiguous acres. On PEL 73 onshore Namibia the Company has two major play types; the Damara Fold Belt and Kavango Rift Basin plays. The Naingopo exploration well, the first well in the Damara Fold Belt, was spud on July 7, 2024 targeting 181 million bbls of unrisked prospective oil resources or 937 Bcf of unrisked prospective natural gas, and is expected to take 90 days to drill.