Botswana and ReconAfrica amend exploration license

Renaissance EnergyRepublic of Botswana and Reconnaissance Energy Africa (ReconAfrica) amend exploration license to exclude entire Tsodilo Hills Area

ReconAfrica recognises and accepts the importance of pertinent cultural and historical sites. As such the Tsodilo Hills, located in north-west Botswana near the Namibian Border, an UNESCO World Heritage Site, has always been recognised by our Company, as a site with this specific, highly important, designation.

To this regard, ReconAfrica and the Government of Botswana began a process in October of 2020 to address this important issue. As a direct result of our collaborative process, the Republic of Botswana has now issued an updated License to ReconAfrica excluding ReconAfrica's entire Core and Buffer areas of the Tsodilo Hills. The License area is now 8990 sq km (2,221,000 acres) versus the previous 9,921 sq km (2,450,000 acres). ReconAfrica follows strict environment, social and governance protocols.

ReconAfrica is committed to establishing operational transparency and working with all local and national stakeholders. In all aspects of its operations, ReconAfrica is committed to minimal disturbances in line with international best standards and will implement environmental and social best practices in all of its project areas.

Wood Mackenzie report on Kavango Basin

Wood Mackenzie, one of the world's leading natural resources research and consulting firms, has released a report on analogous subsurface basins to the Kavango Basin, which is held by ReconAfrica under licence contracts. The study detailed three world-class basins of similar age and/or tectonic origin; the Midland-Permian Basin (Texas), the Southern North Sea Basin, and the Doba Basin in Chad (Africa). The report demonstrates how the Kavango Basin is analogous to all three, but particularly to the sizable Midland Basin. This basin is of the same age (Permian) as the Kavango and has produced from low-cost conventional reservoirs since the 1930's, the same targets ReconAfrica is pursuing.

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