ReconAfrica completes drilling operations at Naingopo well in Namibia

On November 27, 2024, Reconnaissance Energy Africa Ltd., a Canadian oil and gas company, announced the completion of drilling operations on the Naingopo exploration well located onshore Namibia. This key development is a significant milestone for the company, which is actively engaged in exploring the Damara Fold Belt and Kavango Rift Basin, holding approximately 8 million acres of petroleum licenses in the region. The Naingopo well reached a total depth of 4,184 meters (13,727 feet), surpassing the originally planned depth of 3,800 meters. Brian Reinsborough, the President and CEO of ReconAfrica, expressed excitement over the results and highlighted that they will assist in finalizing the company's plans in the area. Following the drilling, the company plans to conduct a comprehensive logging and coring program, along with a Vertical Seismic Profile (VSP), before the well casing and cementing. The preliminary results are expected to be available in the upcoming weeks, shedding light on the potential resources in this region. The Naingopo well is targeting significant prospective oil and natural gas resources, as detailed in a report by Netherland, Sewell & Associates, Inc., which includes 181 million barrels of unrisked and 15 million barrels of risked light/medium oil resources, and 937 billion cubic feet of unrisked natural gas. Additionally, the Kambundu exploration well, another key project for the company, targets even larger resources of oil and natural gas. As ReconAfrica progresses with its operations, there is a cautious note regarding the intrinsic risks associated with exploratory drilling and prospective resource recovery. The company aims to adhere to best international standards, minimizing environmental disturbances throughout its projects while implementing sound social practices.