ReconAfrica Discovers New Sedimentary Basin in the Kavango Basin
ReconAfrica is a junior oil and gas company engaged in the exploration and development of oil and gas in NE Namibia and NW Botswana—the Kavango Basin. The Kavango Basin offers both large scale conventional and non-conventional play types.
ReconAfrica holds a 90% interest in a petroleum exploration license in NE Namibia which covers the entire Kavango sedimentary basin in Namibia. The exploration licence covers an area of 25,341.33 km2 (6.3 million acres), and based on commercial success, it entitles ReconAfrica to obtain a 25-year production license.
ReconAfrica holds a 100% interest in petroleum exploration rights in NW Botswana over the entire Kavango sedimentary basin in Botswana. This covers an area of 9,921 km2 (2.45 million acres) and entitles ReconAfrica to a 25 year production license over any commercial discovery.
ReconAfrica acquired a high-resolution geomagnetic survey of the license area and conducted a detailed analysis of the resulting data and other available data, including reprocessing and reinterpretation of all existing geological and geophysical data. The survey and analysis confirm that the Kavango Basin reaches depths of up to 9000 m (30,000 feet) under optimal conditions to preserve a thick interval of organic rich marine shales, and is anticipated to hold an active petroleum system.
Legal Notice: Status of Reconnaissance RTO
This website describes Reconnaissance Energy Africa Ltd. (ReconAfrica), which will be the resulting entity following completion of the ‘reverse takeover’ pursuant to the Share Exchange Agreement between Lund Enterprises Ltd. and the shareholders of 1163631 BC Ltd. A copy of the Share Exchange Agreement and a related Management Information Circular has been filed by Lund under its profile on SEDAR at www.sedar.com, where additional information about ReconAfrica and the reverse takeover can be found. On 29 March 2019, Lund shareholders approved the Share Exchange Agreement. Completion of the reverse takeover is subject to final approval from the TSX Venture Exchange.