ReconAfrica Provides a Corporate Operational Update

Core Insights - Reconnaissance Energy Africa Ltd. is preparing to spud the Kavango West 1X exploration well, with drilling scheduled before the end of July 2025 [2][4] - The well aims to reach a total depth of approximately 3,800 meters (12,500 feet) and will target over 1,500 meters of the Otavi carbonate reservoir section [2][3] - The Kavango West 1X well represents the second test in the Damara Fold Belt play, which has identified over 19 prospects and leads [3] Operational Update - The drilling rig has been safely moved on-site, and all necessary permits have been obtained from regulators [2] - Final assembly and safety checks of the drill rig are currently underway [2] - The prospect is a large structural fold identified on modern 2D seismic data, extending over 22 kilometers long by three kilometers wide [3] Corporate Governance - Iman Hill has resigned from the Board of Directors effective July 31, 2025, due to foreign work obligations [5] - Following the resignation, the Board will consist of five members, three of whom are independent directors [5] - The Board intends to maintain its current size of five seats [5] Community Engagement - The company expresses gratitude to community and regulatory stakeholders in Namibia for their collaboration in reaching the drill-ready stage [7] - ReconAfrica emphasizes its commitment to safe operations for employees, local communities, wildlife, and the environment [7] Company Overview - ReconAfrica is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin across northeastern Namibia, southeastern Angola, and northwestern Botswana, holding approximately 13 million contiguous acres of petroleum licenses [7]