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RECONAISSANCE AFRICA HITS OIL IN SECOND WELL IN NAMIBIA

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First Section of the Second Well (6-1) Provides Further Confirmation of a Working Petroleum System and First Report of Progress On ESG

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Reconnaissance Energy Africa Ltd.

Jun 03, 2021, 01:05 ET

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VANCOUVER, BC,June 3, 2021/CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV:RECO) (OTCQX: RECAF) (Frankfurt: 0XD) announces the Company has set intermediate casing and is pleased to report geologic results in the first section of this second well (6-1), which again confirms a working petroleum system in the Kavango Sedimentary Basin. As well, the Company is strengthening its Environment, Social & Governance ("ESG") standard and committing a minimum of Canadian $10mm (Namibian $112mm) of ESG expenditures to the Kavango region in which it operates.

Drilling Operations

In keeping with its commitment to the Namibian government, onMay 5, 2021the Company commenced drilling operations of its second well (6-1), of an initial three well program to continue the evaluation of working conventional hydrocarbon systems confirmed in the first well (6-2) in the Kavango Sedimentary Basin.

Having set and cemented 17 ½" surface casing at150m, earlier this month, ReconAfrica has reached the intermediate casing point, set 12 ¼" steel casing and has completed the cementing operation. Steel casing and cementing are key elements of all oil well drilling to protect natural aquifers. This work has been completed in accordance with international standards and best practices.

Based on initial analysis of this first section, ReconAfrica is pleased to report134m(440 feet) of light oil and gas shows from the 6-1 well. The shows are similar in character to those seen in the 6-2 well, 16 km to the south. This second well (6-1), like the first well (6-2), is in the same sub-basin, shows clear evidence of a working conventional petroleum system.

ReconAfrica director DrJim Granathstated: "In these first two wells, the many oil and gas shows, with such variety, is certainly remarkable. It is highly encouraging to see clastic and thick carbonate sections which appear to have similar reservoir characteristics as observed in many other petroleum provinces."

With the completion of the intermediate casing operation, the Company is drilling ahead on schedule to finish drilling operations of the 6-1 well by the end of June, 2021.

Data Analysis

ReconAfrica is again using industry leaders to provide analysis of this critical well, including Schlumberger, Geomark Research (Houston, Texas) andNetherland Sewelland Associates (Dallas, Texas). Due to the success of the 6-2 well, ReconAfrica has added additional scientific analysis to the already robust program of data capture and analysis for the 6-1 well, including capture of natural gas samples using IsoTubes® technology to enable analysis of natural gas composition.

In the first well (6-2), over 150 sidewall cores were taken and Core Labs (Houston, Texas), the industry leader in reservoir analysis, has begun a detailed scientific analysis program. In the first section of the 6-1 well currently drilling, 37 sidewall cores have been taken and are in transit to Core Labs. The results of this program will be used to finalize analysis of the 6-2 well, and to inform the initial analysis of the 6-1 well. Complete analysis of these two wells is expected to be completed by the end of July.

The 6-1 and 6-2 wells are in the same sub-basin, one of five major sub-basins of the larger, more laterally extensive Kavango Sedimentary Basin. The upcoming 2D seismic survey will tie in the data from these two wells and provide the first regional interpretation of the overall basin.