221125000459 - Drilling of Proposed Multiple Exploration and Appraisal Wells with Supporting Infrastructures such as Borrow Pits, Access Roads, and related Services in the Areas of Interest (AOI), Kavango Sedimentary Basin (KSB), Petroleum Exploration License (PEL) No.

The ECC is required for the drilling of the proposed seismically defined prioritised exploration and appraisal wells Nos. D1-D6 and G1-G6 in the KSB, PEL No. 73. Reconnaissance Energy Namibia (REN) (Pty) Ltd, (the “Proponent”) holds petroleum exploration rights under the PEL No. 73 covering Degree Square Block No. 1819 and parts of Blocks 1719, 1720, 1721, 1820 and 1821 over the Kavango Sedimentary Basin (KSB) in Kavango West and East Regions in northern Namibia. PEL 73 was granted by the Minister of Mines and Energy under Section 29-38 of the Petroleum (Exploration and Production), 1991, (Act No. 2 of 1991). Ongoing stratigraphic well drilling, 2D seismic survey operations and the proposed drilling of the prioritised exploration and appraisal wells Nos. D1-D6 and G1-G6, forms part of the ongoing petroleum exploration work programme for PEL No. 73 as agreed in the Petroleum Agreement signed between the Ministry of Mines and Energy (MME) and REN. The results of the 6-1 Mbambi, and 6-2 Kawe, 8-2 Makandina stratigraphic test wells drilled by REN in 2021 and 2022 respectively, and the subsequent 2D seismic survey data acquired in the Kavango Sedimentary Basin (KSB), have established a significant rift basin similar to other major petroleum provinces / rift basins in other parts of the World. Thus far, the integrated interpretation has established the following three (3) groups of hydrocarbon opportunities (“Plays”), Primary: Karoo Rift Fill (Light Oil), Secondary: Intra-Rift Fault Blocks (Light Oil), and Secondary: Damara Fold Belt (New Play, Gas/Gas Condensate. A new petroleum system (play) for KSB, the Damara Fold Belt, has been established based on the interpretation of the seismic data acquired since 2021. The Damara Fold Belt was not anticipated in the original studies of the KSB. Stratigraphic wells currently being drilled are designed to confirm and map the KSB, associated subbasins and petroleum systems with well targets, prospects and leads as part of a de-risking process based on regional data sets including airborne geophysics, initial 2D seismic and regional geological mapping results. As this de-risking progresses, the proposed exploration and appraisal wells Nos. D1-D6 and G1-G6 are designed to confirm the existence of economic oil and / or gas resources with the delineated targets / prospects and leads process based on additional 2D seismic survey data acquisition and interpretation, airborne geophysical surveys and the stratigraphic well data sets. The objectives of the proposed exploration and appraisal wells drilling programme is to continue with the search for oil and gas in Kavango Sedimentary Basin and the associated subbasins and to identify potentially commercial petroleum systems. The drilling of the proposed exploration and appraisal wells will be undertaken using the Crown 750 truck mounted drill rig currently being used by REN to drill the stratigraphic wells and will apply the same drilling technology with the addition of well testing in an event of a discovery. REN will continue with the drilling of the stratigraphic wells based on the current granted permits until all the required permits, consents and authorisations to drill the proposed prioritised exploration and appraisal wells Nos. D1-D6 and G1-G6 have been granted by the Government.