Proactive - Interviews for investors

Reconnaissance Energy Africa provides drilling update on Prospect I in Namibia

Episode Summary

Reconnaissance Energy Africa CEO Brian Reinsborough joined Steve Darling from Proactive to share a drilling update on Prospect I, located onshore Namibia within Petroleum Exploration Licence 073. Prospect I represents the company’s largest exploration target to date. It is estimated to hold approximately 365 million barrels of unrisked and 32 million barrels of risked prospective light to medium oil resources, or alternatively, 1.9 trillion cubic feet of unrisked and 140 billion cubic feet of risked prospective natural gas resources, based on a 100% working interest. Reinsborough reported that pre-construction activities are progressing on schedule and that pre-drill evaluations have been successfully completed. Drilling is planned to reach a target depth of 3,800 metres, with the flexibility to drill deeper depending on subsurface conditions—similar to the company’s approach with the Naingopo exploration well. The Otavi geological section is anticipated to range between 1,500 and 1,800 metres in thickness, depending on total drilling depth. Insights gained from the Naingopo well have significantly enhanced ReconAfrica’s understanding of the Damara Fold Belt, particularly regarding time-depth migration and structural interpretation of the Mulden and Otavi formations. This same reservoir zone at Naingopo exhibited more than 50 metres of reservoir-quality carbonates and oil shows, underscoring its potential. These developments mark an important step in advancing ReconAfrica’s exploration strategy in one of Africa’s most promising onshore hydrocarbon basins. #proactiveinvestors #reconnaissanceenergyafricaltd #tsxv #reco #otcqx #recaf #NamibiaOil #ProspectI #OilExploration #EnergyUpdate #OnshoreDrilling #OilAndGasNews #AfricanEnergy #OilDiscovery #EnergyInvesting