Press Release: RECONAFRICA ANNOUNCES AN OPERATIONS UPDATE AND EXECUTIVE APPOINTMENT

Dow Jones2024-10-03

Administrators and is available under the Company's issuer profile on SEDAR+ at www.sedarplus.ca.

The prospective resources shown in the NSAI Report have been estimated using probabilistic methods and are dependent on a petroleum discovery being made. If a discovery is made and development is undertaken, the probability that the recoverable volumes will equal or exceed the unrisked estimated amounts is 90 percent for the low estimate, 50 percent for the best estimate, and 10 percent for the high estimate. Low estimate and high estimate prospective resources have not been included in the NSAI Report. For the purposes of the NSAI Report, the volumes and parameters associated with the best estimate scenario of prospective resources are referred to as 2U. The 2U prospective resources have been aggregated beyond the prospect and lead level by arithmetic summation; therefore, these totals do not include the portfolio effect that might result from statistical aggregation. Statistical principles indicate that the arithmetic sums of multiple estimates may be misleading as to the volumes that may actually be recovered.

SOURCE Reconnaissance Energy Africa Ltd.

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/CONTACT:

For further information contact: Brian Reinsborough, President and Chief Executive Officer | Tel: +1-877-631-1160; Grayson Andersen, Vice President Investor Relations | Tel: +1-877-631-1160; Email: admin@reconafrica.com; IR Inquiries Email: investors@reconafrica.com; Media Inquiries Email: media@reconafrica.com 

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October 03, 2024 06:00 ET (10:00 GMT)

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