VANCOUVER, BC, July 7, 2020 /CNW/ - Reconnaissance Energy Africa
Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTC:
RECAF) (Frankfurt: 0XD) is pleased
to announce the Company has completed a comprehensive
subsurface evaluation delineating large scale, prospective
conventional hydrocarbon bearing structures, throughout the entire
Kavango Basin.
The primary objective of ReconAfrica's initial three well
drilling program, scheduled for Q4 of 2020, is to confirm a thick,
active, petroleum system throughout the deep Kavango basin.
Specifically, the wells are designed to test organic rich shales
and more shallow conventional structures throughout the sedimentary
basin.
With support of a new extended, high density Aero-Mag survey and
Halliburton's advanced LithoTect® technology, and other new
ancillary data, the Company's technical team has generated a
thorough understanding of how this deep Permian rift basin
developed. Specifically, the Company has been able to identify the
faulting system throughout the basin, responsible for developing
potential conventional fault and stratigraphic hydrocarbon bearing
structures. This work builds on the unconventional potential
previously identified for Kavango Basin.
A full documentation of this recent work, including regional
maps and more specific play maps, are now available on the
Company's website www.ReconAfrica.com.
ReconAfrica is a junior oil and gas company engaged
in the opening of the newly discovered deep Kavango Sedimentary
Basin, in northeastern Namibia and
northwestern Botswana where the
Company holds petroleum licenses comprising approximately 8.75
million contiguous acres.
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.
Cautionary Statements: Certain statements
contained in this press release constitute forward-looking
information. 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.
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.
SOURCE Reconnaissance Energy Africa Ltd.