ReconAfrica Accelerates Drilling Plans for Namibia’s Prospect I

ReconAfrica is expediting its drilling plans for Prospect I in Namibia, moving the spud date to Q2 2025. The site is one of the largest structures in the Damara Fold Belt and shows promising oil and gas potential, as indicated by previous well results. However, the company stresses the prospective nature of these resources.

Reconnaissance Energy Africa Ltd. is advancing its drilling initiative on Prospect I in Namibia. Initial surveying has been completed, and ongoing debushing will be succeeded by demining operations in the upcoming weeks. Due to this progress, the company has moved the spud date forward to the second quarter of 2025.

Brian Reinsborough, the President and CEO of ReconAfrica, noted, “We have made great progress in getting Prospect I ready to drill and, as a result, we are accelerating the spud date into Q2 2025.” The team is actively engaging with local communities and conducting necessary surveying, debushing, and demining. They also plan to construct a 10-kilometer road and drill pad site.

Prospect I, recognized as one of the largest mapped structures within the Damara Fold Belt, is well-defined through 2D seismic imaging. It reveals a four-way dip closure expected to reach over 1,500 meters into the Otavi reservoir. The drilling site has been considerably de-risked based on findings from ReconAfrica’s initial well in the area, Naingopo, which encountered promising hydrocarbons.

The estimated resources for Prospect I include 365 million barrels of unrisked and 32 million barrels of risked prospective light and medium oil, as well as 1.7 trillion cubic feet of unrisked and 126 billion cubic feet of risked prospective natural gas resources, according to Netherland, Sewell & Associates, Inc., an erudite reserves evaluator. Prospect I is classified as location 63 in the NSAI report.

ReconAfrica is accelerating its drilling plans for Prospect I, reflecting significant progress in preparations for the well. The structure presents considerable potential for both oil and natural gas resources, spearheaded by findings from the earlier Naingopo well. However, the company advises caution, emphasizing that these resources are prospective and not guaranteed to be commercially viable.

Original Source: www.worldoil.com