NAMIBIA: ReconAfrica Spuds First Seismically Identified Target in the Kavango Basin

Reconnaissance Energy Africa and its joint venture partner NAMCOR  have announced
spudding of the 1819/8-2 (8-2) well on June 25, 2022.

Drilling Operations
This initial four well program will be executed continuously and will target seismically
defined structures with the objective of testing two of the three play types; oil prone
Karoo Rift Fill and Intra Rift Fault Block plays.

The 8-2 well will be drilled to a planned depth of approximately 2,800 meters (9,184
feet) and is designed to test potential conventional oil and associated natural gas
reservoirs in clastic rocks (sandstones) in the Karoo Rift Fill, the Company’s primary
play.

The well will also be drilled deeper into the Pre-Karoo Mulden and Otavi
formations. These intervals correspond to zones in the Company’s first well, the 6-2,
which is approximately 6.5 kilometres to the East, that had good oil and gas shows.

It is anticipated the well will reach total depth within 60 days from the initial spud.