ReconAfrica Discovers New Sedimentary Basin in Namibia—Kavango Basin

ReconAfrica is a junior oil and gas company engaged in the exploration and development of oil and gas in Namibia. ReconAfrica holds a 90% interest in a petroleum exploration licence in northeast Namibia which covers the entire Kavango sedimentary basin. The exploration licence covers an area of approximately 25,341.33 sq km (6.3 million acres) and based on commercial success, it entitles ReconAfrica to obtain a 25 year production licence. The Kavango Basin offers both large scale conventional and non-conventional play types.