Reconnaissance Energy Africa Ltd. has shared an update on its activities concerning Petroleum Exploration Licence 073 (PEL 73) in onshore Namibia.
Brian Reinsborough, president and CEO of Reconnaissance Energy Africa, stated that the company is making steady progress on the Naingopo exploration well within PEL 73 in onshore Namibia. The final casing point has been set before drilling into the Otavi reservoir section. While slower drilling rates were encountered in the deeper Mulden formation, along with tight hole conditions during casing, causing some delays to the original schedule, they are moving forward. The blowout preventer will be switched to 10,000 psi to prepare for drilling deeper intervals. Drilling is set to resume in the coming days, with the goal of reaching the primary target, the Otavi carbonate reservoir within the Damara Fold Belt play. They expect drilling to continue through October, after which they will analyze the well logs and any fluids obtained before sharing results. Meanwhile, construction for the Kambundu exploration well (Prospect P) is on track, and spudding is expected once the Naingopo well is completed.
The Naingopo well targets 181 million barrels of unrisked prospective light/medium oil resources or 937 billion cubic feet of natural gas resources, based on the latest estimates from Netherland, Sewell & Associates, Inc. (NSAI). The well will be drilled to a depth of approximately 3,800 meters (12,500 feet) and is expected to encounter five Otavi reservoir intervals targeting both oil and gas. Success could unlock further drilling opportunities and potentially access multiple drill-ready prospects.
Construction of the access road and well pad for the second Damara Fold Belt exploration well, Kambundu (Prospect P), is progressing as planned, with drilling expected to begin in late November or early December 2024.
The Kambundu well (Prospect P) is also targeting significant resources, with estimates of 309 million barrels of unrisked prospective light/medium oil or 1.6 trillion cubic feet of natural gas, based on NSAI’s report.
There is no guarantee that any resources will be discovered, and if they are, there is no certainty that they will be commercially viable. Prospective resources refer to the estimated recoverable quantities from undiscovered accumulations, and both discovery and development carry inherent risks.
The company has also secured an Environmental Clearance Certificate (ECC) to carry out a 3D seismic survey on PEL 73. This seismic program, aimed at the Kavango Rift Basin, is scheduled to begin in the first quarter of 2025.
