NAMIBIA: ReconAfrica Granted a 1-Year Extension for PEL 73

Reconnaissance Energy (ReconAfrica) and its joint venture partner NAMCOR (the state oil company of Namibia) have announced the Ministry of Mines and Energy has granted approval of a one year extension on the First Renewal Period from 29 January 2022 to 29 January 2023, relating to the approximate 6.3 million acre (PEL) 73 exploration licence, due to the impacts of the Covid-19 pandemic on the Company’s operations.

Scot Evans, ReconAfrica CEO said, “I appreciate the MME recognizing the challenges
COVID-19 has had on our operations by granting the extension to the First Renewal
Period. I would also like to take the opportunity to recognize the efforts of the ReconAfrica team in adapting and minimizing the impacts the COVID-19 pandemic has had on the people of Namibia and our operations.”

The Ministry of Mines and Energy of Namibia is the State’s lead agency in attracting
private investment in resources exploration and development through the provision of
geo-scientific information on minerals and energy resources, and management of an
equitable and secure titles systems for the mining, petroleum and geothermal industries.
It also carries prime responsibility for regulating these extractive industries and ensuring
that safety, health and environmental standards are consistent with the relevant State
and Commonwealth legislation, regulations and policies.

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