Botswana News

Reconnaissance Energy Africa : ReconAfrica Making Strides in First 60 Days of ESG Platform Launch

VANCOUVER, BC, Aug. 10, 2021 /CNW/ – Reconnaissance Energy Africa Ltd. (the Company” or ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) today is reporting significant steps forward in its Environment, Social and Governance (ESG) program, which was officially launched on June 3, 2021.

During the last 60 days, ReconAfrica has been working in collaboration with Namibian governments, Conservancies, Traditional Authorities and communities on a number of ambitious initiatives related to water, wildlife and reforestation, in addition to ongoing social initiatives. (See 60-Day Progress Report for more on ESG Indicators)

Water – Steps Taken

  • Assessment of groundwater resources for our Reconnaissance Energy Namibia licence area PEL73, with hydro census and water quality sampling in Kavango East and West
  • Advanced planning for 20 additional permitted community water wells, including hydro census and assessment of groundwater resources
  • Eight locations for community water wells being prepared to drill
  • Conducting research in collaboration with stakeholders to select locations for an additional 12 community potable water wells (in addition to four community water wells already drilled and donated by ReconAfrica)
  • Overall, the Company will make a difference with respect to access to potable water in more than 24 communities within East and West Kavango 
  • Ongoing collaboration with the Namibian Ministry of Water, Agriculture and Land Reform (MAWLR) and other stakeholders as part of a new private-public committee to address water-related issues
  • Engaging women and young adults to be part of the consultation and fact-finding process

Wildlife – Steps Taken

  • Initiated wildlife surveys in advance of ReconAfrica’s newly launched 2D Seismic program and initiated ongoing monitoring throughout the seismic data-gathering area
  • Initiated wildlife surveys as part of planning for future drilling operations
  • Planned mitigation strategy during drilling and seismic activities, including potential deviation when required due to wildlife presence and movement
  • Collaboration with Kavango East Conservancies to gather data and help to implement wildlife surveying and monitoring requirements; implementation plans for further conservancy interaction and sharing of key data; conservancy teams will hold the data to update wildlife registries
  • Collaboration with Conservancies to counter effects of poaching and support efforts to promote wildlife repopulation in the Kavango Region

Reforestation – Steps Taken

  • Initiated data gathering on feasible nursery and incubation trials to address reforestation initiatives throughout its lease area
  • Planned collaboration with governments, Traditional Authorities and other stakeholders to develop reforestation plan

Social Initiatives – Steps Taken

  • A NAD $15 million (CAD $1.27 million) contribution to support national COVID-19 relief efforts as the pandemic continues to surge in Namibia as part of our health and well-being goals
  • Continued local hiring, with 306 Namibian residents now employed by ReconAfrica subsidiary Reconnaissance Energy Namibia (REN)
  • Skills transfer initiative, under which 32 Namibian residents are receiving basic training in a wide range of practical disciplines
  • Working with the Kavango East and West Governors to support their tertiary education support initiative
  • Ongoing engagement and communication, in local languages, with stakeholders and Traditional Authorities in Project Impact Areas
  • Ongoing stakeholder issues monitoring and tracking; ReconAfrica/REN Operations team commitment to timely management and resolution of stakeholder issues

“ESG is a long-term process, and a constant commitment. ReconAfrica works each day toward our ESG goals and we’re pleased to demonstrate progress on many critical initiatives on that journey. Our goal – and the ultimate outcome of a successful ESG program – is to ensure ReconAfrica is a positive contributor to Namibia in all ways – environmentally, socially and economically,” said Scot Evans, Chief Executive Officer of ReconAfrica.

To date, ReconAfrica has dedicated NAD $112 million (CAD $9.46 million) toward its ESG initiatives.

The Company’s ESG progress will be tracked and measured on an ongoing basis and will continue to evolve as the Company expands its activities in Namibia and Botswana. These indicators will be influenced by both operational developments and feedback from a range of Namibian, Botswanan and international stakeholders and ESG experts. 

ReconAfrica is also developing plans to implement its own carbon-neutral objectives to address national Net Zero carbon emissions targets and to align with Namibian and Botswanan goals. The Company has initiated analysis of greenhouse gas emissions tracking for ongoing and planned operations.

Future goals are also likely to be shaped by carbon-reduction commitments established by various levels of governments in our operating regions. ReconAfrica continually updates key parties in the Canadian government, both in Canada and with the Canadian High Commission in South Africa.

ReconAfrica plans to issue regular ESG Updates, reporting on measured indicators and progress toward its goals, commitments and sustainable development plans. 

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 licenses comprising approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbances in line with international best 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 planning, locating and drilling of additional community water wells in the East and West Kavango, surveying and mitigation activities to be undertaken by the Company during drilling and seismic operations to minimize impacts on wildlife, reforestation activities to be undertaken throughout the Company’s lease area, continued local hiring by the Company, the future goals and evolution of the Company’s ESG program, the Company’s plans to implement carbon-neutral objectives to address national Net Zero carbon emissions targets and issue regular ESG updates  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.

© Canada Newswire, source Canada Newswire English


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button