Reconnaissance Energy

Primary ticker: TSXV:RECO
Stage of development: Exploration, Production
Project types:Oil – conventional onshore, Gas – conventional onshore
Project to promote: New Sedimentary Basin in Namibia—Kavango Basin

Live financials

ReconAfrica is a junior oil and gas company engaged in the exploration and development of oil and gas in Namibia. ReconAfrica holds a 90% interest in a petroleum exploration licence in northeast Namibia which covers the entire Kavango sedimentary basin. The exploration licence covers an area of approximately 25,341.33 sq km (6.3 million acres), and based on commercial success, it entitles ReconAfrica to obtain a 25 year production licence. The Kavango Basin offers both large scale conventional and non-conventional play types.

Management Profile

Jay Park – CEO

Mr. Park is Chief Executive Officer and a director of ReconAfrica. Mr. Park is an energy lawyer with over 35 years of experience advising on oil and gas projects. He holds a law degree from Osgoode Hall Law School, York University, Toronto, Canada and was designated Queen’s Counsel in 2011. Mr. Park has advised oil companies, governments, state oil companies and investors on upstream oil and gas transactions, contracts, laws and regulations in over 50 countries. Mr. Park has served as a director or officer or both of a number of oil and gas companies with operations in Africa, including as chairman and director of Voyageur Oil and Gas Corporation, which explored the Borj El Khadra Sud block in Tunisia, farmed out to Anadarko, and as a director of Caracal Energy Inc. with oil producing assets in the Doba basin of Chad, acquired by Glencore International. He has advised oil and gas companies regarding petroleum operations in the African states Algeria, Chad, Democratic Republic of the Congo, Egypt, Ethiopia, Kenya, Libya, Madagascar, Namibia, Senegal, Sudan, Tunisia, and Uganda. From 2013 to the present Mr. Park’s principal occupation was as Managing Partner of the law firm Park Energy Law, with offices in London, UK and Calgary, and Petroleum Regimes Advisory Ltd. (London), which positions he continues to hold.

What recent news would you like to highlight to investors attending?

“ReconAfrica” (TSX-V: RECO) is pleased to announce it has received its Drilling Permit covering the entire PEL 73 permit, which extends over an area of 6.3
million acres (25,000 km2), in northeastern Namibia. The Drilling Permit authorizes ReconAfrica to commence drilling of numerous wells, to unrestricted
depths, in the newly discovered Kavango Basin, in Namibia, until August 26, 2022. The primary objective of the initial multi well drilling program is to establish an active petroleum system, of which the main target is the Permian marine shales. The secondary objective is the evaluation of conventional hydrocarbon bearing stratigraphy.