Reconnaissance Energy Africa Ltd. announced an operations update with respect to activity relating to Petroleum Exploration Licence 73 (PEL 73), onshore northeast Namibia. First Damara Fold Belt Well ­ Naingopo Prospect: Major civil works are wrapping up on the well site access roads and well pad construction. Members of the drilling crew have arrived in-country to undertake rig maintenance and certification activities which are ongoing ahead of the move of the Jarvie-1 rig to the Naingopo well (Prospect L), in the Damara Fold Belt.

The drilling and operations teams, including all major third-party service providers, have completed a drilling on paper activity with all critical path processes reviewed and tested. All major equipment has been ordered and is either in country or in transit to Namibia. The well remains on schedule to begin drilling in June 2024 and is targeting 163 million barrels of unrisked prospective oil resources or 843 billion cubic feet of unrisked prospective natural gas resources based on the most recent prospective resources report prepared by Netherland, Sewell & Associates Inc. ("NSAI") dated March 12, 2024.

Damara Fold Belt Well ­ Prospect P: The Company is in advanced planning for Prospect P, which is expected to be the second Damara Fold Belt exploration well. Debushing activities are expected to begin in the near term and will be followed by demining activities before major civil works are started. The well is expected to spud in the fourth quarter of 2024, soon after the drilling of the Naingopo exploration well and is targeting 278 million barrels of unrisked prospective oil resources or 1.5 trillion cubic feet of unrisked prospective natural gas resources based on the NSAI Report.