Reconnaissance Energy Africa Ltd. · TSXV:RECO
Reconnaissance Energy Africa — Investor Presentation (September 2025)
21 slides from Reconnaissance Energy Africa's investor presentation, September 2025
Slide 1: Gabon Strategic Entry: NGULU Block
GABON STRATEGIC ENTRY NGULU BLOCK Building a Full Cycle West Africa E&P Company SEPT 2025 TSXV: RECO
Slide 2: Forward Looking Information
Forward Looking Information Certain information in this Presentation may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities legislation in Canada, the United States and any other applicable jurisdiction (collectively, “forward-looking
Slide 3: Forward Looking Information Cont'd
Forward Looking Information Cont'd There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the "Risk Factors"
Slide 4: Gabon | Strategic Rationale and Investment Highlights
Gabon | Strategic Rationale and Investment Highlights Strategy Investment ▪ Signed a Production Sharing Contract on ▪ Existing oil discovery enables low-cost September 8, 2025, which positions Recon as an development and near-term cash flow generation offshore West Africa operator ▪ Proximity to inf
Slide 5: Gabon | NGULU Highlights
Gabon | NGULU Highlights Loba Field discovery well, shallow oil zone with 140 m gross pay (70 m net) Proven Undeveloped (PUD) well to be drilled within oil column Loba complex potential production ~20,000 Bbls/d in line with offset fields (1) (2) (3) Production potential from follow-up near field pr
Slide 6: Gabon | NGULU Offshore Block
Gabon | NGULU Offshore Block Asset Working Interest ▪ Oil discovery on block ▪ RECON 55% (operator) discovered in 1976 (TSXV:RECO) ▪ 140 m gross pay (70 m net) ▪ Record Resources 20% (TSXV:REC) ▪ Large concession covering 1,214 sq. kms ▪ Gabon Oil Company 15% ▪ Gabon Government 10% (carried) ▪ Along
Slide 7: NGULU Block and Loba Field Overview
NGULU Block and Loba Field Overview Loba Oil Discovery ▪ Loba discovered in 1976, 140 m gross pay (70 m net) oil recovered (27o API) at surface Loba Complex Low-Risk Appraisal Drilling ▪ Appraisal well in Loba Field to be drilled as PUD well ▪ Loba Deep and East appraisal drilling to potentially pro
Slide 8: Gabon | Key Oil and Gas Producers
Gabon | Key Oil and Gas Producers Country Level Production Company Level Production (boepd) Onshore Shallow-water Simba Dussafu Hylia SW 250,000 Hibiscus/Ruche onstream 200,000 150,000 bbl/d 100,000 50,000 0 2030 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Company Valu
Slide 9: NGULU Overview
NGULU Overview ▪ Historic and current oil province ▪ Large concession with significant running room ▪ Multiple proven reservoirs producing throughout the region ▪ Along trend of significant oil fields (~38 - 240 MMBoe) ▪ Loba discovery encountered oil in Batanga reservoir ▪ Access to Infrastructure
Slide 10: NGULU Block Activity Plan
NGULU Block Activity Plan Loba Field Appraisal and Exploration Upside Phase 3 Phase 2 ▪ Reprocess seismic data to image Phase 1 prospects better ▪ Appraisal drilling in Loba ▪ Lepidote deep ▪ Reprocess seismic data East complex ▪ Pompano cluster to image reservoirs ▪ Short pipeline tieback to ▪ Palo
Slide 11: Loba Field Complex Development
4 Loba Field Complex Development Oil Gas 1 Loba Discovery appraisal well A B 1 Loba Deep Exploration Prospect 3 3 2 Loba East Prospect 2 3 Lepidote Deep Exploration Prospect 1 Gabon Pipeline Infrastructure 10 kms to near-by Infrastructure ▪ Two off take routes ▪A Barbier Field Platform NGULU ▪B Ogue
Slide 12: Loba Field Reservoir and Structure
Loba Field Reservoir and Structure A Loba Oil B Loba Batanga Reservoir Discovery Loba-2 Loba-3 (Planned) (Planned) ▪ Over 70 m net / 140 m gross oil column LOBA 3 LOBA 3 1.1km Loba 0 EAST ▪ Discovered in 1976 2 Deep 2 ▪ Drilled on 2D data that post 3D can be seen at the edge of structure (OWC contac
Slide 13: NGULU | Exploration Prospect Inventory
NGULU | Exploration Prospect Inventory ▪ Multiple play types and prospects, located near existing production infrastructure, for low-cost development tiebacks ▪ Pre-salt and Post-salt reservoir targets; stacked reservoirs enabling multiple zones to be tested with one single well ▪ Shallow water pros
Slide 14: Lepidote Deep | Near Field Infrastructure-Led Exploration
3 Lepidote Deep | Near Field Infrastructure-Led Exploration Gas flags Gr So Lith Lepidote Deep ▪ Lepidote 1 well drilled in 1970’s on 2D data, not deep enough to test structure Oil shows encountered ▪ Well encountered strong oil shows ▪ Modern 3D seismic demonstrates a robust 4-way dip closure with
Slide 15: Pompano Prospects, Loba Field and Lepidote Deep
4 Pompano Prospects, Loba Field and Lepidote Deep Batanga level Loba Field Pompano Lepidote Deep Gas Flags Gas Flags Gas Flags Pompano Potential resources Batanga target Loba Oil Batanga level Anguille level in-line with on-trend fields Pompano Anguille target Pompano Map Level Cap Lopez Lepido Cap
Slide 16: Dentex Prospect
Dentex Prospect Dentex DHI’s / Gas Lead flags Potential resources in-line with on-trend fields Stacked targets Deep Sub-salt potential within Cap Lopez and Madiela Formation Batanga level Salt Salt Potential Flat Potential Flat Spot (OWC) Spot (OWC) 16
Slide 17: Palomite Prospect
4 Palomite Prospect Palomite Cluster Pompano (Post & Sub-salt) Sub-salt Palomite Deep C (Pre-salt only) Gamba Dentale Pre-salt Synrift carb Dentex (Post & Sub-salt) A single well to test the Post-, Sub- & Pre-salt is viable in 2 areas Potential resources in-line with on-trend fields All volumes are
Slide 18: Strong Management Track Record with Gulf of Mexico-Style Plays
Strong Management Track Record with Gulf of Mexico-Style Plays Brian Reinsborough, Chief Executive Officer Exploration Sub-salt Discoveries Deep Water Gulf of Mexico ▪ Chris Sembritzky, Senior Vice President, Exploration, Cumulative ~2.4 bboe(1) – 18 discoveries worked in over 40 countries ▪ Rodney
Slide 19: NGULU | Gulf of Mexico Style Plays
NGULU | Gulf of Mexico Style Plays ▪ Loba M 1 well found a shallow oil zone with LOM-1 over 70 m net column / 140 m gross oil column ▪ Deeper Sub-salt reservoirs are known in the area with traps below the salt Post-Salt Loba Post-salt Discovery ▪ Sub-salt potential has not yet been exploited in Gabo
Slide 20: Gabon | Strategic Entry Summary
Gabon | Strategic Entry Summary Clear pathway to near-term production enabling self-funded ▪ Strategic acquisition exploration-led ▪ Line-of-sight to near-term production growth ▪ Immediate activity ▪ Near-by infrastructure access ▪ Additional brownfield opportunities ▪ Significant exploration poten
Slide 21: Contact
BRIAN REINSBOROUGH, Chief Executive Officer Contact MARK FRIESEN, Managing Director, Investor Relations and Capital Markets Reconnaissance Energy Africa Ltd. Email: investors@reconafrica.com Phone: 1-877-631-1160 (Toll Free Canada and USA) AFRICA Namibia Reconnaissance Energy Namibia Ltd. PO Box 518
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