ReconAfrica Commences Production Testing Operations at Kavango West Discovery and Provides an Operational Update

Executive Summary

• ReconAfrica began production‑testing operations at the Kavango West 1X discovery well in Namibia, with regulatory permits secured and equipment on site.
• Updated petrophysical analysis shows 75 m (246 ft) of net hydrocarbon pay in the Huttenberg formation – an increase from the previously disclosed 64 m (210 ft). A total of 345 m (1,132 ft) of prospective interval will be isolated and perforated for testing.
• In Gabon, the company is reprocessing 3‑D seismic over the Ngulu block and plans to select an appraisal well on the Loba oil discovery, with a third‑party resource report expected by end‑2026.

Key Details

• Production Testing – Namibia (Kavango West 1X)
• Commenced testing on schedule; all required regulatory permits obtained.
• Production liner sourced from North America has arrived on site.
• Service contracts signed with Halliburton and Schlumberger for equipment and services.
• Local suppliers engaged for support functions.
• Updated petrophysical analysis: 75 m (246 ft) net hydrocarbon pay in the Huttenberg formation (up from 64 m).
• Six optimized zones to be tested – three in Huttenberg, three in deeper Elandshoek formation.

• 345 m (1,132 ft) of prospective interval will be isolated and perforated for testing.

• Ngulu Block – Gabon

• Ongoing reprocessing of 3‑D seismic data covering key areas, including the Loba discovery.
• Upon completion, an appraisal well location on the Loba oil discovery will be selected.
• Third‑party resource report anticipated by end‑2026.
• Ngulu block size: 1,214 km², equivalent to 54 Gulf of Mexico blocks; shallow water offshore central Gabon.
• Block hosts the Loba oil discovery and over 28 seismically identified prospects in pre‑ and post‑salt plays.

Notable Quotes

• “The commencement of production testing at Kavango West marks a critical milestone for ReconAfrica, confirming our robust operational progress and reinforcing confidence in the hydrocarbon potential of the Damara Fold Belt.” – Brian Reinsborough, President & CEO
• “Reprocessing 3‑D seismic on the Ngulu block positions us to make informed decisions on appraisal drilling and resource delineation, advancing our offshore portfolio toward value creation.” – Mark Friesen, Vice President, Investor Relations & Capital Markets