NAMIBIA: ReconAfrica’s 1st Well Proves Working Conventional Petroleum System in the Kavango Basin

First Drill Site (6-2 well)
The well sample log of the 6-2 provides over 200 meters (over 660 feet) of oil and natural
gas indicators/shows over three discrete intervals in a stacked sequence of reservoir and
source rock. Extraction of oil from these samples and subsequent fingerprinting for key
characteristics of the liquids, supports an active petroleum system with multiple source
intervals.

Dan Jarvie, petroleum systems chemist and member of ReconAfrica’s Advisory Board
stated “These shows are indicative of migrated, thermogenic petroleum and occur over
three different intervals in the 6-2 test well. The intervals penetrated include highly porous, permeable sediments and marine source rocks as predicted, and an extensive marine carbonate lithofacies. Mud gas results indicate a high BTU gas with the presence of light oil in numerous cutting samples. Based on these initial results, the components and processes for a working petroleum system are all present.”

Working closely with MME and ReconAfrica to provide further detailed analysis of all data are premier industry service companies including:

• Core Laboratories  of Houston, Texas in the analysis of potential reservoir rocks, and
  GeoMark Research, Houston, Texas on geochemical analysis of source rocks and
  extracted liquids, including “fingerprinting” for key characteristics, and
  Netherland Sewell & Associates Inc, Dallas, Texas for petrophysical analysis (rock
  properties and associated liquids) and additional geologic analysis.

Second Drill Site (6-1 Well)
With drilling, coring and logging operations now complete on the 6-2 location, the
Company owned rig is being mobilized to the 6-1 location, 16 kms (10 miles) north of 6-
2 drill site. This second well is designed to evaluate the petroleum systems discovered in
the first well (6-2) in an area of maximum thickness.

Hon. Thomas Alweendo, Namibian Minister of Mines and Energy stated, “This is a great
period for the people of Namibia, with the results of the well confirming a big potential for a very valuable energy resource for our country and therefore a significant development for Namibia onshore exploration efforts. The positive results of this well have provided us with the critical information required to unlock the country’s petroleum prospectivity and is the first step in the process of locating significant accumulations, we can now confidently confirm Namibia is endowed with an active onshore petroleum basin.”