ReconAfrica Granted a One Year Extension on the First Renewal Period For Petroleum Exploration Licence (PEL) 73 Due to COVID-19 Relief
Sep 23, 2021
September 23, 2021 – Vancouver, British Columbia, Canada – Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) and its joint venture partner NAMCOR (the state oil company of Namibia) announce the Ministry of Mines and Energy ("MME") has granted approval of a one year extension on the First Renewal Period from 29 January 2022 to 29 January 2023, relating to the approximate 6.3 million acre (PEL) 73 exploration licence, due to the impacts of the Covid-19 pandemic on the Company’s operations.
Scot Evans, ReconAfrica CEO said, "I appreciate the MME recognizing the challenges COVID-19 has had on our operations by granting the extension to the First Renewal Period. I would also like to take the opportunity to recognize the efforts of the ReconAfrica team in adapting and minimizing the impacts the COVID-19 pandemic has had on the people of Namibia and our operations.”
The Ministry of Mines and Energy of Namibia is the State's lead agency in attracting private investment in resources exploration and development through the provision of geo-scientific information on minerals and energy resources, and management of an equitable and secure titles systems for the mining, petroleum and geothermal industries. It also carries prime responsibility for regulating these extractive industries and ensuring that safety, health and environmental standards are consistent with the relevant State and Commonwealth legislation, regulations and policies.
Environmental, Social & Governance
In addition to the four solar powered community water wells previously drilled, ReconAfrica, working with local and state water authorities, has now drilled and completed four more solar powered water wells in rural areas of the Kavango East region in which the Company operates. The Company’s Namibian water well drilling and installation contractors, Aqua Drilling and Leben Technical Services have now commenced drilling four more community water wells in the Kavango West region in which ReconAfrica also operates.
ReconAfrica continues its commitment to local hiring with over 300 Namibian residents which have been employed to date. The Company has a strong commitment to gender diversity and continues to increase the number of women hired locally.
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 in line with international best standards and will implement environmental and social best practices in all of its project 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.
For further information contact:
Scot Evans CEO | Tel: +1-877-631-1160
Grayson Andersen Manager, IR | Tel: +1-877-631-1160
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 Company’s continued commitment to local hiring and strong commitment to gender diversity, continuing to increase the number of women hired locally, and the Company's commitment to minimal disturbances 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.