ReconAfrica's Kavango West 1X finds 64 m of pay

Executive Summary

• Reconnaissance Energy Africa Ltd. announced successful hydrocarbon results from the Kavango West 1X well onshore Namibia, identifying significant hydrocarbon pay in the Otavi carbonate section.
• The well encountered 64 net metres of hydrocarbon pay and an additional 61 metres of hydrocarbon shows, prompting plans for a production test in Q1 2026 to determine deliverability.
• The company filed its fiscal third quarter financial statements and MD&A for the periods ended September 30, 2025.

Key Details

• Well Location & Status: Kavango West 1X well on Petroleum Exploration Licence (PEL) 73, onshore Namibia. Drilling completed on November 29, reaching a total depth of 4,200 metres (13,800 feet). The well is currently temporally abandoned and will be re-entered for testing.
• Hydrocarbon Pay: 64 net metres (210 feet) of hydrocarbon pay verified by wire line logs and supported by mud log anomalies.
• Gross Hydrocarbon Section: Approximately 400 metres (1,300 feet) of gross hydrocarbon section identified on wire line logs in the Otavi carbonate section.
• Additional Shows: An additional 61 metres (200 feet) of hydrocarbon shows identified in deeper sections, associated with interpreted natural fractures in the limestone reservoir.
• Reservoir Characteristics: Extensive wire line logging indicates approximately 85 metres (280 feet) of net reservoir across a gross interval of approximately 400 metres, containing multiple limestone reservoir units.
• Sampling: Mud and gas samples collected throughout the well for analysis in the United States; no core samples were taken.
• Future Operations (Production Test):
  • Planned for the first quarter of 2026, expected to run for approximately one month.
  • Will utilize tubing-conveyed perforating in five-inch production casing to selectively perforate identified intervals.
  • Objective is to determine deliverability characteristics of the 64 metres of pay and the 61 metres of shows in fractured limestone.
• Ownership Structure: ReconAfrica is the operator with a 70% working interest. Partners include BW Energy (20% WI) and the National Petroleum Corp. of Namibia (10% carried WI).
• Financial Filings: Fiscal third quarter disclosure documents for the three- and nine-month periods ended September 30, 2025, including financial statements and MD&A, have been filed on SEDAR+.

Notable Quotes

• "ReconAfrica is excited to announce that the Kavango West 1X well has encountered hydrocarbon pay in the Otavi reservoir section. The results from this well have allowed the company to proceed to a success case evaluation, which includes conducting a production test of prospective intervals to determine deliverability characteristics from the well." — Brian Reinsborough, President and CEO