CALGARY, Alberta, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC), is pleased to provide a year-end corporate operational update.
Brian Reinsborough, President & CEO, commented: “We have had an active and productive 2025 in which we advanced the Company on multiple strategic fronts. We completed drilling our second well in the Damara Fold Belt resulting in encountering of significant hydrocarbons, extended our acreage position into Angola at a low cost of entry and expanded our asset portfolio into offshore Gabon to help balance our investment risk profile. These actions set the Company up for several important milestones in 2026.
We are preparing for the production test at Kavango West 1X next year after only our second exploration well drilled in the Damara Fold Belt, a unique position to be in when exploring a new basin. Our teams are working on procuring the equipment needed for this test which is expected to commence operations by the end of the first quarter of 2026.
While recently visiting Namibia after our Kavango West 1X well results, the partnership group operated by ReconAfrica and including NAMCOR and BW Energy, had the privilege of meeting Her Excellency President Nandi-Ndaitwah. We are grateful for the President’s recognition of the significance of hydrocarbons encountered in the Kavango West well and how the partnership can help support onshore hydrocarbon development and the long-term energy supply for Namibia.
In Gabon, we have been receiving seismic and technical data and are advancing that project by preparing for the seismic reprocessing project at Ngulu.
We, at ReconAfrica, wish all our stakeholders a safe and joyous holiday season and we look forward to keeping everyone updated next year as we progress these projects.”
Nick Steinsberger, Senior Vice President Drilling & Completions, commented: “We are preparing to conduct a production test on Kavango West 1X, which will allow us to conduct a longer flow period and pressure buildup analysis to better calculate potential production rates and reserve estimates. Early planning suggests that we may test up to eight separate reservoir intervals of interest.”
Kavango West 1X Update
After the collection of stratigraphic data from all wells that have penetrated the Otavi formation, the Upper Otavi Group has been subdivided into the Huttenberg and Elandshoek formations.
As previously disclosed, after extensive wireline logging, the Huttenberg contained ~85 metres (~280 feet) of net reservoir with 64 metres (210 feet) of net hydrocarbon pay across a gross interval of ~400 metres (~1,300 feet) containing multiple limestone reservoir units. Mud and gas samples have been collected throughout this section and the deeper Elandshoek and have been sent to the Unites States for analysis.
The deeper Elandshoek contained an average of 20% total gas throughout the entire 560 metres (1,837 feet) drilled through the section indicating a hydrocarbon saturated section. The vast majority of the Elandshoek section produced visible oil sheens and oil bubbles in the mud pits at surface. Within this gross section, post well analysis shows 81 metres (265 feet) of hydrocarbon fluorescence (increased from the previously disclosed 61 metres) observed in cuttings, a direct indicator of hydrocarbons. Indications of fracturing were pervasive based on well logs. Additionally, rapid increases in gas readings after drilling connections indicated hydrocarbons flowing actively towards the wellbore. Gas readings and hydrocarbon presence at the well’s total depth of 4,260 metres remained encouraging. Drilling was stopped due to the operational limitations of the rig.
Production Test
ReconAfrica, and its partners, decided to proceed directly to production testing and not to perform a drill stem test (“DST”) which will allow for more controlled testing of isolated intervals of interest. This decision was made because the 2,000 metres of open hole section posed operational challenges to adequately test the entire gross Otavi reservoir at one time.
Production casing and testing equipment is being sourced from multiple international locations. Testing operations are expected to commence in the first quarter of 2026 and is expected to last approximately four to eight weeks. The testing may include the evaluation of up to eight zones of interest with each test lasting 5 to 10 days.
ReconAfrica is the operator of PEL 73 with a 70% working interest. Its partners are BW Energy (20% WI) and the National Petroleum Corporation of Namibia (“NAMCOR”, 10% carried WI).
Angola MOU
In April of 2025 the Company signed a Memorandum of Understanding (“MOU”) with National Agency for Petroleum, Gas and Biofuels of Angola (“ANPG”) for a joint exploration project in the Etosha-Okavango basin, located onshore in southeastern Angola. This agreement is a strategic addition to the Company's asset portfolio, which creates an opportunity for early entry into onshore Angola at a low cost, with minimal work commitments. The MOU complements ReconAfrica's activities in Namibia and highlights the potential of the Damara Fold Belt and Rift Basin by adding access to 5.2 million contiguous acres in Angola to the existing 6.3 million acres in Namibia. Both plays are projected to extend into the Angola MOU area. Current activities include geochemical sampling of surface oil and gas seeps, which is expected to commence in the first quarter of 2026.
Gabon, Offshore Ngulu Block
In September of 2025 the Company signed a Production Sharing Contract (“PSC”) with the Republic of Gabon and its national oil and gas company, Gabon Oil Company (“GOC”) located in the shallow waters offshore Gabon. The Company is continuing to gather all the available seismic surveys and other technical data that is available on the Ngulu lease and is sourcing seismic reprocessing vendors. 3D seismic data covering prospective areas of interest will be received near the end of December and reprocessing will begin in January 2026. Following the reprocessing and detailed evaluation of the seismic data, the company plans to deliver a third-party resource report outlining the potential of the block.
ReconAfrica is the operator of Ngulu with a 55% working interest. Its partners are Record Resources (20% WI), Gabon Oil Company (15% WI) and the Republic of Gabon (10% carried WI).
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the Company holds petroleum licences and access to ~13 million contiguous acres. The Company also operates the Ngulu block in the shallow waters offshore Gabon. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in its project areas.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Brian Reinsborough, President and Chief Executive Officer
Mark Friesen, Vice President, Investor Relations & Capital Markets
IR Inquiries Email: investors@reconafrica.com
Media Inquiries Email: media@reconafrica.com
Tel: +1-877-631-1160
Cautionary Note Regarding Forward-Looking Statements:
Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to progress of the KW1X well, total depth reached, well results including any shows and/or indications of hydrocarbons, timing of well tests, duration and completion of the well test, the ability to source adequately materials needed for the well test in a timely manner, results from production testing, net pay and net reservoir calculations, the results from production and rate testing, extent of natural fractures, success case scenarios, timing and certainty of 3D seismic activity, flow rates, deliverability, whether any additional testing is required, the timing and extent of such testing, timing to procure testing materials ,the MOU, the PSC, oil sheens, gas bubbles and the Company’s commitment to minimal disturbance of habitat, in line with best international standards and its implementation of environmental and social best practices in its project areas. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on ReconAfrica's current belief or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the "Risk Factors" section in the Company's annual information form (“AIF”) dated April 29, 2025, for the financial period ended December 31, 2024, available under the Company's profile at www.sedarplus.ca. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
