Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") announces that it has reached total depth ("TD") of 4,184 metres (13,727 feet) on the Naingopo exploration well on Petroleum Exploration Licence 073 ("PEL 73"), onshore Namibia .
Brian Reinsborough , President and CEO of the Company stated: "We are excited to have completed the drilling operations on the Naingopo exploration well, drilling beyond our original projected TD of 3,800 metres. The Naingopo well is the first of several to test the potential resource of the Damara Fold Belt. We will now commence an extensive evaluation program, which will include wireline logging and coring, Modular Formation Dynamics Tester ("MDT") sampling and testing of any hydrocarbons present, and a Vertical Seismic Profile ("VSP"). Our technical team will then assess all data to determine the results, which will assist us in finalizing further plans in the Damara Fold Belt."
Naingopo Exploration Well
The Naingopo exploration well was drilled to a total depth of 4,184 metres (13,727 feet). The Company will now undertake a comprehensive logging and coring program, and perform a VSP, followed by casing and cementing the well. Results of the well will be provided following a thorough analysis of the subsurface data acquired and any obtained oil or natural gas samples. We expect to have the preliminary results of the Naingopo well in the next several weeks.
During December 2024 , the Company will undertake repair and maintenance activities on the Jarvie -1 drilling rig. We expect to move to the Kambundu (Prospect P) well location after completing the review of the results from current operations.
As a reminder, the Naingopo well is targeting 181 million barrels of unrisked and 15 million barrels of risked prospective light/medium oil resources (1) or 937 billion cubic feet of unrisked and 65 billion cubic feet of risked prospective natural gas resources (1) , on a 100% working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell & Associates, Inc. ("NSAI"). Kambundu is targeting 309 million barrels of unrisked and 15 million barrels of risked prospective light/medium oil resources (1) or 1.6 trillion cubic feet of unrisked and 64 billion cubic feet of risked prospective natural gas resources (1) , on a 100% working interest basis, based on the most recent prospective resources report prepared by NSAI.
