#Calgary #ReconAfrica #Naingopo Well #Namibia

ReconAfrica Completes Drilling Operations at Naingopo Exploration Well

Reconnaissance Energy Africa Ltd., commonly known as ReconAfrica, has officially announced the successful completion of drilling operations at its Naingopo exploration well located in Namibia. The well reached a remarkable total depth of 4,184 meters (or 13,727 feet), surpassing the company's initial target of 3,800 meters. This achievement marks a significant milestone for ReconAfrica as it aims to unlock the potential of the Damara Fold Belt.

Key Highlights from the Operations

Brian Reinsborough, President and CEO of ReconAfrica, expressed his excitement regarding the completion of the drilling phase. He highlighted that the Naingopo well serves as the first of multiple attempts to explore the resource potential in the region. Moving forward, the company plans to implement a comprehensive evaluation program that includes several advanced techniques:

1. Wireline Logging and Coring: This will help in collecting vital data relating to the geological formations encountered during drilling.
2. Modular Formation Dynamics Tester (MDT): This sampling method enables accurate assessments of reservoir conditions and the quality of hydrocarbons.
3. Vertical Seismic Profile (VSP): This will facilitate the understanding of subsurface geological structures.

The data collected from these evaluations will provide insights crucial for future planning and operational directives within the Damara Fold Belt.

Implications of the Naingopo Well

The Naingopo exploration well is particularly significant as it targets an estimated 181 million barrels of unrisked prospective light/medium oil resources and 937 billion cubic feet of unrisked natural gas resources. Conversely, it is estimated that there are 15 million barrels of risked oil resources and 65 billion cubic feet of risked natural gas resources based on recent reports by Netherland, Sewell Associates, Inc. (NSAI).

The results from the Naingopo well may steer the next steps for ReconAfrica significantly. Following these evaluations, the company plans to undertake repair and maintenance activities on its Jarvie-1 drilling rig throughout December 2024 and subsequently move to drill at a new location known as Kumbundu (Prospect P).

Looking Ahead

ReconAfrica's exploration efforts have the potential to add considerable value to its operations in Namibia. After a comprehensive analysis of the acquired subsurface data and any retrieved oil or gas samples, the company anticipates sharing preliminary results in the coming weeks. With another exploration well planned at Kumbundu, expectations remain high regarding the overall resource potential in the area.

Additionally, the commitment of ReconAfrica towards responsible exploration practices and minimal environmental disturbance shows a promising outlook for their operations, aligning with international standards for environmental and social governance.

As ReconAfrica continues to navigate through its operations, stakeholders and investors alike will be keenly watching the development results from the Naingopo well and future drilling activities. The successful completion of this drilling operation not only solidifies ReconAfrica’s position as a key player in the energy sector but also highlights the untapped potential of Namibia’s oil and gas resources.