ReconAfrica spuds Kavango West 1X well

Mr. Brian Reinsborough reports RECONAFRICA PROVIDES A CORPORATE UPDATE AND ANNOUNCES THAT THE KAVANGO WEST 1X WELL HAS STARTED DRILLING The Kavango West 1X exploration well is currently being drilled, and Reconnaissance Energy Africa Ltd. has provided a corporate update on continuing operations. Kavango West 1X (Prospect I) -- well spud on July 31 The Kavango West 1X exploration prospect spudded on July 31. The well is planned to reach total depth of approximately 3,800 metres (12,500 feet) by the end of November, 2025, and is expected to penetrate over 1,500 metres of Otavi carbonate reservoir section, which is the primary target of the Damara fold belt play. The prospect is a large structural fold identified on modern 2-D seismic data, which extend over 22 kilometres long by three kilometres wide. The company has identified over 19 prospects and four leads mapped in the Damara fold belt trend, with an additional 5.0 million acres captured in a recently executed memorandum of understanding in offsetting Angola. More information about the Damara fold belt play and the Kavango West 1X well can be found in the corporate presentation available on the company's website. Brian Reinsborough, president and chief executive officer, stated: "We are pleased to announce that we have started drilling the Kavango West 1X well. This is an exciting time for everyone at the company, our partners and stakeholders in Namibia and, of course, shareholders alike. Originally, the Kavango West 1X location was not scheduled to be the next well, but the location was reprioritized after the results of our last well, Naingopo. While this reprioritizing resulted in a slightly longer lead time to spud this location, the company prioritizes rigorous technical appraisal with respect to location selection to ensure we have the best possible chance for commercial success. We think that the Kavango West 1X prospect represents our best opportunity in the Damara fold belt to unlock the potential of this play, and we look forward to reporting results expected before year-end 2025." Chris Sembritzky, senior vice-president, exploration, commented: "By utilizing our learnings from the Naingopo well, Kavango West 1X represents the best opportunity we have identified on seismic in the Damara fold belt play due to its size, hydrocarbon migration pathway and well-defined four-way closure. With our new subsurface learnings, highly experienced drilling crew and optimized, built-for-purpose drill bits, we believe that we have captured the best possible chance for drilling an efficient, safe and commercially successful well." Corporate update Due to the company's continuing drilling activities, the previously announced 3-D seismic program that had been scheduled for the second half of 2025 has been moved to the 2026 operating program. The company is continually reviewing potential investment opportunities that may include acquisition of further acreage for exploration, development and producing properties, and joint venture transactions that target acceleration of production and free cash flow, particularly due to the company's concentrated asset risk profile. Stock option grants As part of the annual compensation review, the company has granted incentive stock options to certain directors, officers, employees and consultants of the company to acquire an aggregate of 6.96 million common shares at an exercise price of 60 cents per share. The options are exercisable for a five-year term expiring July 31, 2030, and will be subject to certain vesting provisions as determined by the board of directors of the company in accordance with the company's stock option plan. The options granted to insiders are subject to restrictions on resale until Nov. 30, 2025, in accordance with the policies of the TSX Venture Exchange. About Reconnaissance Energy Africa Ltd. ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara fold belt and the Kavango rift basin in the Kalahari desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the company holds petroleum licences comprising approximately 13 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in its project areas. We seek Safe Harbor.