NATION-WIDE CONFIDENCE GROWS
VANCOUVER, BC and RUNDU,
Namibia, Oct. 29, 2021 /CNW/ - The Traditional Authorities
of Kavango East and Kavango West have confirmed their support for
the oil-and-gas exploration program in Namibia by Reconnaissance Energy Africa Ltd.
(the "Company"
or "ReconAfrica") (TSX-V: RECO) (OTCQX: RECAF)
(Frankfurt: 0XD).
At a meeting last week in Namibia, the leaders of the five key
Traditional Authorities of Kavango East and Kavango West expressed
confidence that ReconAfrica's ongoing exploration program, which
has to date identified a conventional oil and gas system in the
Kavango Sedimentary Basin, could provide Namibia with a new-found source of
socio-economic opportunity if commercialized.
Hompa Eugene Siwombe, Chairperson of the Kavango Traditional
Authority Committee, said ReconAfrica's exploration program in the
Region is more than welcome by the communities and lauded the
Company's efforts to support the economic and environmental
aspirations of the country.
"Everyone is happy with the way ReconAfrica is doing the
exploration. This is what we want – the liberation struggle is
gone, it is now time for economic freedom. We want exploration, to
know what is under the ground," he said.
Hompa Siwombe also recognized ReconAfrica's commitment to
communities, which includes the drilling and donation of a planned
22 potable, solar-powered water wells, 14 of which have already
been completed and turned over to communities.
"Let the people from the community see that ReconAfrica, while
exploring, is considering the people in the Region. We are indeed
very thankful for the water wells as they have made the lives of
our people in the Kavango regions better."
Hompa Siwombe's comments were echoed by the King, Hambukushu
Fumu Erwin Munika Mbambo, who indicated outside opposition to
ReconAfrica's project is unwarranted.
"We are expressing our support because we, as Traditional
Leaders, are the ones on the ground and see what is really
happening, not people sitting in their distant offices trying to
decide what should be done," he said.
At the meeting, it was decided that a leader of the Traditional
Authorities would join ReconAfrica and other affected stakeholders
on a committee to ensure collaboration and dialogue as the
Company's oil-and-gas exploration project proceeds. The Governors
of Kavango East, Hon. Bonifatius Wakudumo, and Kavango West, Hon.
Sirkka Ausiku, also attended the
meeting and reaffirmed their support for ReconAfrica's exploration
program.
ReconAfrica, in collaboration with the Government of the
Republic of Namibia, set out this
year with a stratigraphic drilling program to prove there is an
active conventional petroleum system in the Kavango Sedimentary
Basin. To date, the Company has completed two stratigraphic
drilling programs and a low-impact, 2D seismic project. While
seismic analysis is still in progress, the released data analysis
from the two stratigraphic wells confirms there is an active
conventional petroleum system, with multiple potential reservoir
zones within the basin.
Scot Evans, Chief Executive
Officer of ReconAfrica, welcomed the support of the Traditional
Authorities and noted that the Company is exploring in the region
at the invitation of the national government of the Republic of
Namibia and emphasized that the
management and development of Namibia's resources will be "determined by the
people of Namibia – through their
traditional authorities, elected governments and regulatory
agencies."
"ReconAfrica has been working collaboratively with governments,
Traditional Authorities and communities of Namibia since 2019. We are grateful for the
support and trust we have earned over this period and we are
committed to retaining the confidence of Namibia as we move forward, together, to
explore the vast potential of the Kavango Sedimentary Basin, which
may ultimately lead to a new source of prosperity for the country,"
Evans said. "Our goal is to ensure ReconAfrica is a positive
contributor to Namibia in all ways
– environmentally, socially and economically."
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the
opening of the newly discovered deep Kavango Sedimentary Basin, in
the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum
licenses comprising approximately 8.5 million contiguous acres. In
all aspects of its operations, ReconAfrica is committed to minimal
disturbances to habitat in line with international best standards
and will implement environmental and social best practices in all
of its operating 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.
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 the data from the
Company's two stratigraphic wells confirming an active petroleum
system, with multiple potential reservoir zones within the
basin, exploring the vast potential of the Kavango Sedimentary
Basin, which may ultimately lead to a new source of prosperity for
the country, and the Company's commitment to minimal
disturbances to habitat in line with international best standards
and its implementation of environmental and social best practices
in all of 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 amended and restated annual
information form dated May 19, 2021
available under the Company's profile at
www.sedar.com. 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.