- ReconAfrica (TSXV: RECO) (OTCQX: RECAF) updates on drilling plans for its largest prospect, targeting 365 million barrels of oil or 1.9 trillion cubic feet of gas.
- The drilling operation aims for a depth of 3,800 metres with potential to drill deeper.
- Findings from the Naingopo exploration well enhance confidence in Prospect I, having encountered over 50 metres of reservoir quality carbonates and oil shows.
Reconnaissance Energy Africa Ltd. (TSXV: RECO) (OTCQX: RECAF) has announced a significant update on its drilling operations for Prospect I, located in Namibia's Petroleum Exploration Licence 073. The prospect, the largest targeted by the company to date, has been predicted to potentially yield 365 million barrels of unrisked oil, with a risked estimate at 32 million barrels. Additionally, it holds 1.9 trillion cubic feet of prospective natural gas in unrisked terms, with a risked count standing at 140 billion cubic feet.
The company plans to achieve a drilling depth of 3,800 metres, although deeper drilling remains an option following pre-drill evaluations. The Otavi section, a significant geological segment, is expected to be approximately 1,500 to 1,800 metres thick, contributing to the predicted resource richness of the site.
Previous findings from the Naingopo exploration well, announced in January 2025, have further strengthened ReconAfrica's understanding of the Damara Fold Belt, boosting confidence in the potential of Prospect I. The Naingopo well revealed more than 50 metres of reservoir quality carbonates and oil shows, indicating promising prospective resources.
With pre-construction activities proceeding on schedule, ReconAfrica is poised to commence drilling within this quarter. The company's ongoing efforts underscore a commitment to responsible exploration practices, aligning with international environmental and social standards.
