ReconAfrica is a Canadian oil and gas company engaged in the exploration and development of oil and gas in Northeast Namibia and Northwest Botswana—the “Kavango Basin.”
ReconAfrica holds a 90% interest in a petroleum exploration licence in northeast Namibia. The exploration license covers the entire Kavango sedimentary basin an area of approximately 25,341.33 sq km (6.3 million acres), and based on commercial success, it entitles ReconAfrica to obtain a 25 year production licence.
Also, ReconAfrica holds a 100% interest in a petroleum licence, northwest Botswana which comprises an area of approximately 8,990 sq km (2.2 million acres) and is contiguous to the Namibian licence. The two licences together comprise 34,325 sq km (8.5 million acres).
ReconAfrica acquired a high resolution aeromagnetic survey of the licence area and conducted a detailed analysis of the resulting data and other available data, including reprocessing and reinterpretation of all existing geological and geophysical data. The survey and analysis confirm that the Kavango Basin reaches depths of up to 30,000 feet, under optimal conditions to preserve a thick interval of organic rich marine source rocks. The Company’s initial work program has confirmed the presence of an active petroleum system in the Kavango Basin.