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RECONAFRICA ANNOUNCES AN OPERATIONAL UPDATE, A LICENCING UPDATE, A FILING UPDATE, AND AN UPDATE ON THE NAMCOR TRANSACTION
RECONAFRICA ANNOUNCES AN OPERATIONAL UPDATE, A LICENCING UPDATE, A FILING UPDATE, AND AN UPDATE O...
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"\n \n \n \n RECONAFRICA ANNOUNCES AN OPERATIONAL UPDATE, A LICENCING UPDATE, A FILING UPDATE, AND AN UPDATE ON THE NAMCOR TRANSACTION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 21, 2023\n \n \n /CNW/ - Reconnaissance Energy Africa Ltd. (the \"Company\" or \"ReconAfrica\") (TSXV: RECO) (OTCQX: RECAF) (\n \n Frankfurt\n \n : 0XD) announces an operational update, an update to Petroleum Exploration Licence (\"PEL\") 073, onshore\n \n Namibia\n \n , a filing update, and an update on the transaction with Namcor Exploration and Production (Pty) (\"NAMCOR\") announced in the Company's news release dated\n \n September 22, 2022\n \n .\n \n \n \n \n \n \n \n \n \n \n Operational Update\n \n \n \n The Company continues to advance activities in preparation for the drilling program planned for 2024 with land access work, community engagement, demining activities, and key equipment and services procurement in progress. Minor amendments to the approved Environmental Clearance Certificate have been approved by the Ministry of Environment, Forestry and Tourism, to reflect the specific locations of the planned wells to be drilled. As previously announced, the Company is undertaking activities to have a well pad ready for drilling to commence in late Q1 2024 in each focus basin, an oil targeted well in the Rift Basin and a gas focused well in the Damara Fold Belt. Some recent basin modelling work undertaken by our technical team has increased the potential for some parts of the Damara Fold Belt to be more oil prone than previously expected.\n \n \n \n Licencing Update\n \n \n \n As part of the approval for the Second Renewal Exploration Period by the Ministry of Mines and Energy (\"MME\"), announced on\n \n October 30, 2023\n \n , the Company requested and has been granted a relinquishment exemption based on the provisions of Section 37 (5) of the Petroleum Act of 1991. The request was based on the Company's belief following the evaluation of acquired subsurface data over the past three years that a s...