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ReconAfrica Announces Approval of First Renewal Period for Namibia Exploration Licence
ReconAfrica Announces Approval of First Renewal Period for Namibia Exploration Licence ...
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"\n\n\n\nReconAfrica Announces Approval of First Renewal Period for Namibia Exploration Licence\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\nCanada NewsWire\nVANCOUVER, Dec. 24, 2019\n\n\n\n/NOT FOR DISSEMINATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATES OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA./\n VANCOUVER, Dec. 24, 2019 /CNW/ - Reconnaissance Energy Africa Ltd. (the \"Company\" or \"ReconAfrica\") (TSX-V: RECO) (OTC: LGDOF) (Frankfurt: OXD) advises that Namibia's Minister of Energy and Mines has confirmed that ReconAfrica's exploration licence covering its rights in the Kavango Basin has been approved for its First Renewal Period, and accordingly the exploration phase of the licence is renewed and continues until January 25, 2022. \n\n \n \n\n \n\"As anticipated, the Minister of Energy and Mines has renewed our exploration licence for a two year period,\" stated Jay Park, CEO of ReconAfrica. \"ReconAfrica's exploration and development plans for the Kavango Basin extend well into the future, and this First Renewal Period reflects the Company's commitment to drill at least two wells during this phase.  It also reflects the Ministry of Energy and Mines' support for our prior and continuing work in the Kavango Basin.\"\nReconAfrica's agreement with the Ministry of Energy and Mines and NAMCOR, the state oil company of Namibia, calls for a minimum work program during the First Renewal Period comprised of the drilling of exploration or stratigraphic wells, and 250 km2 of 2D seismic, with an aggregate expenditure for exploration activities of US$10,000,000.\nAs part of advancing its drilling program for the Kavango Basin, ReconAfrica has engaged Henderson Rigs of Houston, Texas for the purpose of procuring a North American drilling rig and ancillary equipment, specifically designed for Namibian logistics and drilling depths of the Kavango Basin.\nBackground on Namibia Exploration Licences and PEL 73\nNamibia's Petroleum Act  pro...