Reconnaissance Energy Africa delivered progress as it moved forward with its African exploration portfolio. Key developments included the Kavango West 1X discovery well in Namibia and new expansion steps into Gabon and Angola. The company also renewed its Canadian shelf prospectus, added to its technical and capital markets teams, and secured an extension for its Namibian exploration license.
In Namibia, the company has begun production testing at the Kavango West 1X discovery well, with six hydrocarbon-bearing zones set for testing through June. It is also preparing a follow-up appraisal well that could help support reserve bookings and a final investment decision. In Gabon, ReconAfrica has started reprocessing 3D seismic data over the Ngulu Block and the Loba oil discovery to improve resource estimates and identify appraisal drilling targets by late 2026.
ReconAfrica completed a farm-in agreement with BW Energy on Namibia’s PEL 073 license, keeping operatorship and a 70% working interest alongside BW Energy and NAMCOR. The company also entered Angola through an MOU for joint exploration in the Etosha-Okavango basin. In offshore Gabon, it secured a 55% operated interest in the Ngulu Block, adding another exploration asset, while testing continues at the Kavango West 1X well to determine hydrocarbon type and production potential.
On the corporate side, ReconAfrica strengthened its leadership team with new investor relations and exploration hires. It also introduced a shareholder rights plan and filed a final short-form base shelf prospectus across Canada. The company has also raised $3 million from warrant exercises, adding liquidity to support its wider exploration program across multiple countries.
source: www.theglobeandmail.com
African Energy Council