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ReconAfrica provides drilling update on Prospect I

Oil & Gas 360º

Prospect I is located onshore Namibia in Petroleum Exploration Licence 073 (“PEL73”) and is the Company’s largest prospect to be drilled so far. It is targeting 365 million barrels ofunrisked and 32 million barrels of risked prospective light/medium oil resources (1) , or 1.9

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African national oil companies (NOCs) partnering with independents to drive E&P

Oil & Gas 360º

Libyas NOC is working with IOCs Repsol, bp, TotalEnergies, ConocoPhillips and more to increase output to two million barrels per day (bpd). The Tanzania Petroleum Development Corporation is developing the Tanzania LNG project, working with Shell and Equinor to monetize resources in Blocks 1, 2 and 4.

E&P 130
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ReconAfrica announces agreement for joint exploration project in Angola adding 5.2 million acres and significant resource potential along the Damara Fold belt and Rift Basin plays

Oil & Gas 360º

million acres in Namibia in the highly prospective Damara Fold Belt and Rift Basin exploration plays. It is targeting 365 million barrels of unrisked and 32 million barrels of risked prospective light/medium oil resources (1) , or 1.9 This will be the Companys largest exploration prospect drilled so far.

Basin 130