ReconAfrica Provides Update on Complaint
July 19, 2022, Vancouver, British Columbia, Canada – Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) reports that, following a hearing in connection with a recent application (the “Application”) filed by certain third party applicants (the “Applicants”) with the High Court of Namibia (Main Division) (the “Court”) challenging the recent amendments to the Company’s Environmental Compliance Certificate (the “ECC Amendments”) that were approved by the Environmental Commissioner of the Namibian Ministry of Environment, Forestry, and Tourism, the Court has deferred its ruling on the preliminary points raised by the Company and other respondents to August 3, 2022. As previously disclosed in the Company’s July 8, 2022, news release, the Applicants are seeking an order from the Court for the Interim Interdict to restrain the Company from continuing any oil and gas exploration activities which have been authorized by the ECC Amendments issued by the Environmental Commissioner.
Pending a final determination by the Court on the Interim Interdict, the Company is permitted to continue with those oil and gas exploration activities which have been authorized by the ECC Amendments, including the drilling of the Company’s 8-2 well.
The Company and other respondents, the representatives of the Namibian government including its partner NAMCOR, are opposing the Application, including any interim relief sought by the Applicants (such as the Interim Interdict). The Company will provide further updates on the Application as they develop.
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 licences comprising approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat, in line with best international 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
Email: admin@reconafrica.com
IR Inquiries Email: investors@reconafrica.com
Media Inquiries Email: media@reconafrica.com
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 intention to oppose the Application, including any interim relief sought by the Applicants, the expected timing for when the Court may make a determination on whether to grant the Interim Interdict or for any hearing on the merits of the Application, the Company providing further updates on the Application, including whether the Court will grant any interim relief sought by the Applicants 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.