This article provides a game theory based approach to the analysis of interstate conflict between Angola, Botswana and Namibia over the Okavango River's shared water resources and tries to offer strategies that can be employed to harmonize incongruent interests. This is done by providing a compressed scenario in which interstate conflicts revolve around lack of adequate mechanisms to satisfactorily distribute shared water resources. The basic premise of the analysis is the following: if relevant data are available, the mathematical inclination of game theoretic modelling provides an objective framework for working out sharing arrangements that minimize conflict. We illustrate this claim on the basis of a hypothetical game where riparian states involved make compensatory sacrifices in order to offset the losses incurred by other partners. We cautiously provide suggestions for the way forward without pretending that these are exhaustive. Keywords: Hydroconflict, Okavango basin, non-coincident interests, cooperation, game theory.