ReconAfrica expands into Angola with strategic joint exploration deal in Etosha-Okavango Basin

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9d ago 4:01

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Reconnaissance Energy Africa CEO Brian Reinsborough joined Steve Darling from Proactive to announce a significant milestone: the company has entered into a joint exploration agreement with Angola’s National Oil, Gas and Biofuels Agency (ANPG). This agreement marks the launch of a collaborative exploration project in the under-explored Etosha-Okavango Basin, located onshore in southeastern Angola. Reinsborough emphasized the strategic value of this addition to ReconAfrica’s asset portfolio, describing it as a rare opportunity to gain early entry into Angola’s onshore oil and gas sector at a low cost and with minimal work commitments. This move further complements the company’s existing operations in neighboring Namibia and underscores the broader exploration potential of the Damara Fold Belt and Rift Basin systems. The agreement adds 5.2 million acres in Angola to ReconAfrica’s current 6.3 million acres in Namibia, significantly expanding its footprint across one of the most promising frontier basins in southern Africa. The company's working interest in the new area will be 80%, with Angola’s state-owned oil company Sonangol holding the remaining 20%. ReconAfrica will hold exclusive rights over the acreage during the term of the memorandum of understanding (MOU). Over the next 24 months, ReconAfrica plans to conduct a series of geological and geophysical studies, including a regional oil and gas seep survey, 2D seismic data acquisition, and comprehensive geochemical sampling and analysis. These efforts are aimed at identifying viable exploration targets and de-risking future drilling prospects. In parallel, ReconAfrica is preparing to drill its largest target to date—Prospect I—onshore Namibia, located just 47 kilometers from the newly acquired MOU area in Angola. The prospect is estimated to contain 365 million barrels of unrisked and 32 million barrels of risked prospective light to medium oil resources. This expansion into Angola signals ReconAfrica’s continued commitment to unlocking the hydrocarbon potential of southern Africa, building a strong foundation for long-term growth through disciplined exploration and strategic partnerships. #proactiveinvestors #reconnaissanceenergyafricaltd #tsxv #reco #otcqx #recaf #NamibiaOil #ProspectI #OilExploration #AngolaOil #NamibiaOil #EnergyInvesting #OilAndGas #AfricanEnergy #UpstreamOil #BrianReinsborough #ProactiveInvestors

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