ReconAfrica Announces Filing of Prospectus Supplement for Upsized Underwritten Offering of C$18 Million

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The Base Shelf Prospectus and the Prospectus Supplement are accessible on SEDAR+

CALGARY, Alberta, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica” or “Recon”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) is pleased to announce that on September 22, 2025, in connection with its previously announced upsized overnight marketed underwritten public offering of units (as described in the Company’s news releases dated September 18, 2025 and September 19, 2025), it filed a prospectus supplement dated September 22, 2025 (the “Prospectus Supplement”) to the Company’s final short form base shelf prospectus dated February 29, 2024 (the “Base Shelf Prospectus”, and together with Prospectus Supplement, the “Prospectus”) with the securities commissions in each of the provinces and territories in Canada.

Delivery of the Prospectus and any amendment thereto will be satisfied in accordance with the “access equals delivery” provisions of applicable securities legislation. The Prospectus is accessible under the Company’s issuer profile on SEDAR+ ().

An electronic or paper copy of the Prospectus and any amendment may be obtained, without charge, from Research Capital Corporation (“Research”) by email at  by providing Research with an email address or address, as applicable.

About ReconAfrica

ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the Company holds petroleum licences and access to ~13 million contiguous acres. The Company also operates the Ngulu block in the shallow waters offshore Gabon. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in 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.

For further information contact:

Brian Reinsborough, President and Chief Executive Officer

Mark Friesen, Managing Director, Investor Relations & Capital Markets

IR Inquiries Email: 

Media Inquiries Email: 

Tel:

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. This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") that are based on ReconAfrica’s current expectations, estimates, forecasts, and projections. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements and include statements regarding management's expectation anticipated production timeline; management's exploration and development plans; and all other expectations, intentions, and plans that are not historical fact.

Forward‐looking statements are based on a number of material factors, expectations, or assumptions of ReconAfrica which have been used to develop such statements and information, but which may prove to be incorrect. Although ReconAfrica believes that the expectations reflected in such forward‐looking statements are reasonable, undue reliance should not be placed on forward‐looking statements because ReconAfrica can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: that ReconAfrica will continue to conduct its operations in a manner consistent with past operations; the quality of the reservoirs in which ReconAfrica operates; the timely development of infrastructure in areas of new production; certain cost assumptions; continued availability of equity financing to fund ReconAfrica’s current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which ReconAfrica operates; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of ReconAfrica to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which ReconAfrica operates; and the ability of ReconAfrica to successfully market its oil and natural gas products when discovered.

The forward‐looking information included in this news release are not guarantees of future performance and should not be unduly relied upon.

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 annual information form (“AIF”) dated April 29, 2025, for the financial period ended December 31, 2024, available under the Company's profile at . 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.

The forward‐looking information and statements contained in this news release speak only as of the date of this news release, and ReconAfrica does not assume any obligation to publicly update or revise any of the included forward‐looking statements or information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.