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. The
Company holds petroleum licenses comprising approximately 8.5 million
contiguous acres.
Operations
Processing of the first 450 kms of 2D seismic data acquired
in the Kavango Basin was recently completed with excellent results. The initial
interpretation is near complete and has delineated a diverse group of
high-quality prospects for the upcoming three to six well drilling program.
Relevant to the current list of seismically defined
prospects, a second 2D seismic acquisition program comprising approximately 500
kms has been designed. As a result, a corresponding update to the
seismic Environmental Impact Assessment (EIA) has been submitted to the
Ministry of Environment, Forestry and Tourism for approval. Subject to the
appropriate approvals, the second 2D seismic program is scheduled to commence
by the end of February 2022. A more detailed drilling schedule for H1 2022
will be provided as soon as all permits are approved by the Namibian
government.
Environment, Social and Governance
As part of the previously announced comprehensive ESG
program dedicated to the Kavango East and Kavango West regions, the Company
is supporting the Namibian Ministry of Health and Social Service's
COVID-19 response by donating N$15 million (CDN$1.27 million) for a proactive
roll-out vaccination campaign for the hard-to-reach, remote villages, and
settlements in Kavango East and Kavango West. In the first month, the campaign
has recorded over 8,000 initial vaccinations, over 1,200 second doses and 100
boosters. 52 of the 81 planned villages have been covered to date.
ReconAfrica is also assisting with oxygen provision and mortuary services
support.
ReconAfrica conducts ongoing engagement programs, led
by its Community Liaison Officers and Community Engagement teams, to ensure a
steady flow of communication, in local languages, with impacted and
interested stakeholders, Traditional Authorities, Conservancies, Communities
and other interest groups. Specifically, the Company has conducted more than
300 community engagement sessions related to the drilling and 2D seismic
programs to share information and track stakeholder feedback.
Board of Directors
The Company is pleased to announce the appointment of Craig
Steinke as a director and executive Chairman of the Board. Steinke, the
founder of ReconAfrica, has played a pivotal role since inception in the
development of ReconAfrica through his private energy consulting practice. Steinke
has over 25 years of experience in identifying, successfully developing and
financing oil and natural gas exploration and production projects in North
America, Latin America, Europe and Asia. Additionally,
through his privately held company, Steinke plays an active role leading a
diversified team, in generating new sources and technologies for sustainable
energy.
Leaving the board of directors is Jay Park, one of the
Company's early stage and significant shareholders, has served the Company and
its predecessor Reconnaissance Oil as its Chief Executive Officer from May
2018 to August 2020, and then as the Company's executive Chairman. Park
will continue to take the leading role in advising ReconAfrica on all oil and
gas legal matters through Park Energy Law where he is Managing Partner.
Joining the Board of the Company is Dr. Joseph R. Davis.
Dr. Davis has 40 years of experience as an oil and gas geologist focused
on reserve estimation and understanding exploration risk. Dating back to 2013,
Dr. Davis led the technical team in the original discovery of the Kavango
basin. In 2015 Dr. Davis was a founding partner of a private US based natural
gas company, focused on sustainable natural gas production, achieving natural
gas production of over 800mmcf/day. Dr. Davis has a PhD in Geology from
the University of Texas and serves as Secretary of the Trustee
Associates of the American Association of Petroleum Geologists (AAPG)
Foundation. He also serves on the AAPG's Sustainable Development Committee,
which provides industry leadership in technology and training for meeting
United Nations sustainable development goals, including reducing greenhouse gas
emissions, protecting ground and surface water supplies, and defining the
reservoirs necessary for carbon storage and sequestration.
Retiring from the board of directors but retaining an active
role with the company as Geoscience advisor is Dr. James Granath, who has
served as a director of the Company from August 2019. Dr. Granath's new
role focuses on the structural geology aspects of exploring and developing the
Kavango Basin. The Company thanks Dr. Granath for his major contribution to the
Board of ReconAfrica and is pleased that he will be providing continued
technical deliverables for the exploration and development of the Kavango
basin.