This approval for the Second Renewal Exploration Period was granted by the mines and energy ministry , and it is valid from 30 January 2024 to 29 January 2026.
"We appreciate the MME recognising the significant capital deployed and the work programme ReconAfrica has executed during the First Renewal Exploration Period on PEL 73 over the past three years. During the first exploration period, the company has exceeded our work commitments through the drilling of three stratigraphic test wells, the acquisition of over 2 750km of 2D seismic and a ~5 000km2 eFTG survey.
In addition, ReconAfrica will be required to design and drill one exploration or stratigraphic test well.
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