RECAF Stock

Reconnaissance Energy Africa reports that following any connection with the recent application of the High Court of Namibia challenges the recent amendments to the Company’s environmental compliance certificate.

The Namibian Ministry approved these of environment, forestry and Tourism’s Environmental Commissioner. Also, the court decided on the applicant’s request for an order from the court for an interim interdict.

It is done to restrain the Company from continuing any oil and gas exploration activities authorized by ECC Amendments issued by the Environmental Commissioner. Moreover, The court has dismissed the application by the Applicants for the interim interdict.

The court also ordered that all applicants pay the Company’s legal cost and other respondents related to that application. In the past, the Company took many, many efforts, and it will also take many steps in the future to appeal the ECC Amendments approved by the environmental commissioner.

However, the Company will take all the steps to oppose efforts by the Applicants to appeal the ECC instructions approved by the Environment Commissioners. It will continue the oil and gas exploration activities authorized by the ECC instructions, including drilling the 2-8 wells of the Company.

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About Recon Africa:

Reconnaissance Energy Africa Ltd is a Canadian Company established in 1978. It is established in Canada and provides its services as an emerging oil and gas company. It is engaged in opening the newly discovered deep Kavango Sedimentary Basin in the Kalahari Desert of northeastern Namibia and Northwestern Botswana.

This Company is presenting its common stock under the name of RECAF Stock. It also holds a petroleum licence comprising approximately 8.5 million contiguous acres. Hence, in all the aspects of its operations, Recon Africa is committed to minimizing habitat disturbance in line with the best international standards.

The Company will also implement all environmental and social practices in its project areas. Besides this, corporate governance took seriously notice of every single action and strict vigilance.

RECAF Stock:

RECAF Stock holds a current value of 3.25 US dollars. The RECAF Stock indicates the maximum rates and stability of stock on April 16, 2021, May 7, 2021, and May 14, 2021, which are 6.10, 8.26, and 7.38 US dollars.

The maximum price of RECAF Stock in the last five years was 9.89 US dollars on July 2, 2022. And the lowest price was 0.19 US dollars on October 16, 2019. However, the earnings of this Company are declined to 125.6% per year over the past five years.

Cautionary Note Regarding Forward-Looking Statements:

Certain statements mentioned in this press release constitute forward-looking information under the applicable securities laws, rules and regulations. Without any limitations, the statements concerning the Company’s intention to oppose efforts by the Applicants to appeal the ECC Amendments approved by the Environmental Commissioner.

The Company will provide further details on the appeal, including all the appeals that may be successful despite this Company’s effort. Moreover, the Company’s commitment to minimal disturbances is in line with international best standards and its implementation of environmental practices in all of its project areas. These statements relate to future events or future performances.

The forward-looking information in this release is made as of the date hereof. Recon Africa undertakes no obligation to update or revise any forward-looking information.No matter if it happens due to new information, future events or otherwise, except as required by applicable securities laws.

Because of the risks, uncertainties and assumptions herein, investors should not rely on forward-looking information. The preceding statements expressly qualify any forward-looking information contained herein.

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