NAMIBIA: ReconAfrica’s Seismic Initial Processing Results Shows Target Rich Environment for the Upcoming Drilling Program

Reconnaissance Energy Africa has provided initial results from the first seismic acquisition program ever conducted in the Kavango Basin, in northeast Namibia.

As reported on October 21, 2021, 450 linear kilometers of seismic data were successfully
acquired within budget and on schedule. Third party processing of 450 linear kilometers by DownUnder GeoSolutions (America) LLC in Houston, Texas, and Absolute Imaging Inc.
in Calgary, Canada, began as each seismic line was acquired, providing a very time
efficient and uniquely interactive approach to the processing.

Importantly, the initial processing results of the seismic acquisition has produced high
quality data revealing a variety of structural and stratigraphic features providing for a
target rich environment for the upcoming drilling program scheduled for early Q1, 2022.

An example of the early processing results of a seismic line is provided below. This line
is shown twice, the first version an initial interpretation and the second, a clean version,
illustrates:

1) The overall good quality of the initial processed data.
2) Significant extensional grabens with normal fault systems connected by steep
wrench-related shear zones.
3) Well-developed expansion of stratigraphic section in the grabens.
4) Good fault resolution, some major faults extending over several thousand meters
to near surface, and potential for multiple styles of trapping.
5) Consistency with the rift basin origin of the Kavango basin.

Example Line 1; North South line, Central Kavango Basin. Line length 66km.

These results also highlight a clear distinction between the Kavango basin, and the
Owambo basin to the west, which is in a much simpler tectonic setting.

The Company will continue processing the data to maximize image quality, and has
begun the interpretation of the data, integrating available stratigraphic well data, with the intention of identifying new well locations by year end.

Immanuel Mulunga, Managing Director of NAMCOR commented, “NAMCOR is excited
by the preliminary results of the recently concluded 2D seismic survey in our licence area.

While we look forward to the processing and interpretation of the entire 2D survey, these initial findings give us extra confidence to choose the optimal drilling locations for the upcoming drilling campaign.”