VANCOUVER, BC, July 19,
2022 /CNW/ - Reconnaissance Energy Africa Ltd. (the
"Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF)
(Frankfurt: 0XD) reports that,
following a hearing in connection with a recent application (the
"Application") filed by certain third party applicants (the
"Applicants") with the High Court of Namibia (Main Division) (the "Court")
challenging the recent amendments to the Company's Environmental
Compliance Certificate (the "ECC Amendments") that were approved by
the Environmental Commissioner of the Namibian Ministry of
Environment, Forestry, and Tourism, the Court has deferred its
ruling on the preliminary points raised by the Company and other
respondents to August 3, 2022. As
previously disclosed in the Company's July
8, 2022, news release, the Applicants are seeking an order
from the Court for the Interim Interdict to restrain the Company
from continuing any oil and gas exploration activities which have
been authorized by the ECC Amendments issued by the Environmental
Commissioner.
Pending a final determination by the Court on the Interim
Interdict, the Company is permitted to continue with those oil and
gas exploration activities which have been authorized by the ECC
Amendments, including the drilling of the Company's 8-2 well.
The Company and other respondents, the representatives of the
Namibian government including its partner NAMCOR, are opposing the
Application, including any interim relief sought by the Applicants
(such as the Interim Interdict). The Company will provide further
updates on the Application as they develop.
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the
opening of the newly discovered deep Kavango Sedimentary Basin, in
the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum
licences comprising approximately 8.5 million contiguous acres. In
all aspects of its operations, ReconAfrica is committed to minimal
disturbance of habitat, in line with best international standards,
and will implement environmental and social best practices in all
of its project areas.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding
Forward-Looking Statements:
Certain statements contained in this press release
constitute forward-looking information under applicable Canadian,
United States and other applicable
securities laws, rules and regulations, including, without
limitation, statements with respect to the Company's intention to
oppose the Application, including any interim relief sought by the
Applicants, the expected timing for when the Court may make a
determination on whether to grant the Interim Interdict or for any
hearing on the merits of the Application, the Company providing
further updates on the Application, including whether the Court
will grant any interim relief sought by the Applicants and the
Company's commitment to minimal disturbances in line with
international best standards and its implementation of
environmental and social best practices in all of its project
areas. These statements relate to future events or future
performance. The use of any of the words "could", "intend",
"expect", "believe", "will", "projected", "estimated" and similar
expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on ReconAfrica's current belief or
assumptions as to the outcome and timing of such future events.
There can be no assurance that such statements will prove to be
accurate, as the Company's actual results and future events could
differ materially from those anticipated in these forward-looking
statements as a result of the factors discussed in the "Risk
Factors" section in the Company's amended and restated annual
information form dated May 19, 2021,
available under the Company's profile at www.sedar.com. Actual
future results may differ materially. Various assumptions or
factors are typically applied in drawing conclusions or making the
forecasts or projections set out in forward-looking information.
Those assumptions and factors are based on information currently
available to ReconAfrica. The forward-looking information contained
in this release is made as of the date hereof and ReconAfrica
undertakes no obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by applicable securities laws.
Because of the risks, uncertainties and assumptions contained
herein, investors should not place undue reliance on
forward-looking information. The foregoing statements expressly
qualify any forward-looking information contained
herein.
SOURCE Reconnaissance Energy Africa Ltd.