ReconAfrica Broadens Its Horizons with a Three-Country Exploration Push

ReconAfrica is reshaping its exploration strategy, moving to diversify its geographic footprint across Central and Southern Africa. The company’s core focus remains the Kavango Basin in Namibia, but it is now advancing parallel technical work in neighboring Angola and Gabun. This three-country approach is designed to mitigate the inherent risks of frontier exploration by leveraging regional geological correlations.

Upcoming Catalysts: Flow Tests and Field Work

The coming weeks are poised to be critical for defining the company’s resource base. Two key operational milestones are on the immediate horizon, both serving as technical validations for the expanded strategy. By the end of March 2026, flow tests are scheduled to commence at the Kavango West 1X well in Namibia. This will be followed in April by the initiation of field activities in Angola.

Namibia: Awaiting Crucial Reservoir Data

All eyes are on the planned production test for the Kavango West 1X discovery. Following the identification of hydrocarbon-bearing intervals in late 2025, the upcoming flow test aims to gather essential data on reservoir deliverability and fluid properties. This phase is a decisive step in evaluating the commercial potential of the Damara Fold Belt. Concurrently, plans are underway for additional delineation drilling to advance the project toward potential development.

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Financing and Expansion into New Frontiers

This regional expansion, funded by capital raises completed in early 2026, involves concrete operational steps in two additional countries:

• Angola: A geochemical sampling program in the Etosha-Okavango Basin is set to begin in April 2026, investigating surface oil and gas seeps.
• Gabun: Technical work continues on the Ngulu Block, with the reprocessing of existing 3D seismic data to reassess the potential of the Loba discovery.
• Namibia: The first quarter of 2026 is the target for starting the pivotal flow tests at the Kavango West 1X well.

Market Performance and Volatility

ReconAfrica shares are currently trading at 0.90 CAD, reflecting a decline of approximately 3.8% from the previous session. The stock continues to hover near its 50-day moving average of 0.88 CAD, while maintaining a high level of volatility with an annualized figure of 54%.