NAMIBIA: ReconAfrica, NAMCOR Provide Additional Drilling Results and Plans for Next Exploration Phase in the Kavango Basin

Reconnaissance Energy Africa and its joint venture partner NAMCOR have provided n the mud logging report and geochemical analysis, more comprehensive data confirming a working conventional petroleum system. The Company also reports on additional drilling results and plans for the next phase of exploration in the Kavango Basin, NE Namibia and NW Botswana.

HIGHLIGHTS:

• The 6-2 well and 6-1 well reached total depths of 2,294 meters (7,526 feet) and 2,780 meters (9,121 feet) respectively.
• The 6-2 well had over 250 meters (820 feet) of hydrocarbon shows while the 6-1 had over 350 meters (1,148 feet) of hydrocarbon shows.
• Both wells had full logging suites, extensive sidewall cores in addition to the full sample analysis of cuttings, and hydrocarbon shows, and were completed to enable the running of vertical seismic profiles in the next month, and potential for re-entry production testing at a later date.
• The Company has now completed all drilling components required to satisfy the work program requirements for an extension of the exploration period on PEL 73.
• The Company will transition to the exploration phase of drilling activity, targeting mapping of the entire leasehold and potential accumulations of recoverable commercial hydrocarbons.

Scot Evans, Chief Executive Officer of ReconAfrica, commented:

“The goal of the stratigraphic test well program, approved by the Namibian government, was to establish the presence of a working conventional hydrocarbon system in this new basin. The results we have achieved from these first two wells have significantly exceeded our expectations. Not only have we encountered a significant number of oil and gas shows over multiple potential zones, they are associated with zones of fracture and matrix porosity. Consistent with a conventional oil and gas play, analysis of the geochemical data from these wells indicates the hydrocarbons are migrated from off structure source(s) (see figure below). The findings of these two wells strongly supports acquiring, processing, and interpreting the first 2D seismic program in the Kavango sedimentary basin and its multiple sub-basins. This is just the beginning; the 6-2 and 6-1 wells provide a positive initial evaluation of a small component within our acreage position of 8,500,000 acres in Namibia and Botswana.”