Reconnaissance Energy Africa Ltd (RECAF)

[tdbowieknife]

VANCOUVER, BC, March 14, 2024 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) announces an updated prospective resource estimate supported by a Prospective Resource Report (the "Report") dated March 12, 2024 (with an effective date of February 29, 2024) prepared by Netherland, Sewell & Associates, Inc. ("NSAI"), an independent qualified reserves evaluator. The Report focused solely on the Damara Fold and Thrust Belt Area, located within the Company's Petroleum Exploration Licence (PEL73), in the Kavango Basin, NE Namibia, in which the Company holds a 90% working interest. The integration of all subsurface data and new geochemical analyses in the Damara Fold Belt has resulted in an increase of oil potential.

REPORT HIGHLIGHTS(1)

Gross to the Company unrisked, prospective oil in place in identified prospects of 15.4 billion barrels
Gross to the Company unrisked, prospective oil resources in identified prospects of 3.1 billion barrels

https://www.newswire.ca/news-releases/reconafrica-announces-an-updated-independent-third-party-resource-report-for-the-damara-fold-belt-onshore-namibia-834836435.html


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