Reconnaissance Energy Africa Ltd. (ReconAfrica), a Vancouver-based oil and gas exploration company, has announced the successful completion of drilling operations for the Naingopo exploration well in Namibia. Located on Petroleum Exploration License 073 (PEL 73), the well reached 13,727 feet (4,184 meters), exceeding the company’s initial target depth.
The next phase involves a comprehensive logging and coring program, followed by a Vertical Seismic Profile (VSP). ReconAfrica will also case and cement the well to evaluate its resource potential.
Resource Potential
The Naingopo well is targeting substantial hydrocarbon resources, including:
- 181 million barrels of unrisked and 15 million barrels of risked prospective light/medium oil resources.
- 937 billion cubic feet of unrisked and 65 billion cubic feet of risked prospective natural gas resources.
These estimates are based on the latest prospective resources report by Netherland, Sewell & Associates, Inc. (NSAI).
Future Operations
In December, ReconAfrica plans to conduct repair and maintenance work on its Jarvie-1 drilling rig. After reviewing the data collected from Naingopo, the company will proceed to the Kambundu (Prospect P) well site. Kambundu targets even larger potential reserves:
- 309 million barrels of unrisked and 15 million barrels of risked oil resources.
- 1.6 trillion cubic feet of unrisked and 64 billion cubic feet of risked natural gas resources.
Additionally, the company aims to conduct a 3D seismic survey of the Kavango Rift Basin in the latter half of 2025, which may lead to two more exploration wells.
Statements from Leadership
ReconAfrica President and CEO Brian Reinsborough expressed enthusiasm about the progress:
“We are excited to have completed drilling operations on the Naingopo exploration well, exceeding our original projected depth. This is the first of several wells designed to test the potential of the Damara Fold Belt. The upcoming evaluation program, including wireline logging, coring, MDT sampling, and VSP, will be critical in assessing hydrocarbon presence and guiding our next steps.”
Strategic Partnerships
In July, ReconAfrica finalized a strategic partnership with BW Energy Limited, granting the latter a 20% working interest in PEL 73. The agreement included a $16 million equity investment to support a multi-well exploration program and contingent payments of up to $125 million based on future milestones.
