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.
ReconAfrica acquired a high resolution geomagnetic survey of the licence 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 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.