01:03 PM EDT, 07/22/2025 (MT Newswires) -- Reconnaissance Energy Africa ( RECAF ) was unchanged in Canada trading at last look early Tuesday afternoon after it provided investors with material business updates regarding its Kavango West 1X exploration project and senior leadership changes.

The company said that at the Kavango West 1X prospect spudding is scheduled before end of July. It added the drilling rig has been safely moved on-site and all necessary permits required to spud the well have been received by the company from the various regulators. Final drill-rig assembly and safety checks are underway. The well is planned to reach total depth of approximately 3,800 metres (12,500 feet) and is expected to penetrate over 1,500 metres of Otavi carbonate reservoir section, which is the primary target of the Damara Fold Belt play.

Tuesday's statement noted the Kavango West 1X exploration well will be the second test in the expansive Damara Fold Belt play. It said the prospect is a large structural fold identified on modern 2D seismic data, which extends over 22 kilometers long by three kilometers wide. The company added it has identified over 19 prospects and leads mapped in the Damara Fold Belt trend, with an additional 5.0 million acres captured in a recently executed Memorandum of Understanding in offsetting Angola.

Additionally, the company has announced the resignation of Iman Hill from its Board of Directors and stated it intends to keep the number of directors at five.