Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) has released an operations update concerning its activities in Petroleum Exploration Licence 073 (PEL 73) in Namibia.
The company is making strides in drilling the Naingopo exploration well, having reached a critical casing point before advancing into the Otavi reservoir section.
Despite facing challenges such as slower drilling rates and tight hole conditions, ReconAfrica is set to switch out the blowout preventer for deeper drilling in the coming days, with expectations to soon reach the primary objective of the Otavi carbonate reservoir.
“As part of the planned drilling program, we are switching out the blowout preventer to 10,000 psi ahead of drilling deeper intervals,” CEO Brian Reinsborough explained.
“Drilling will commence in the coming days and we expect soon thereafter to penetrate the primary objective of the Damara Fold Belt play, the Otavi carbonate reservoir.
“We plan to be drilling through October before reaching total depth and will disclose well results after thorough analysis of the logs and any obtained fluids.”
Elsewhere on PEL 73, construction is on schedule for the Kambundu exploration well (Prospect P), which will commence after completing the Naingopo well.
The Naingopo well is estimated to target 181 million barrels of unrisked prospective light to medium oil and 937 billion cubic feet of natural gas, while the Kambundu well aims for 309 million barrels of unrisked oil and 1.6 trillion cubic feet of gas.
The company recently received an Environmental Clearance Certificate for a 3D seismic survey on PEL 73, scheduled for the first quarter of 2025.
Further, Gitane De Silva has been appointed as the new Senior Vice President of ESG, Communications, and Stakeholder Relations, effective October 21, 2024.
With over two decades of experience in public policy and regulatory leadership, including roles such as CEO of the Canada Energy Regulator, De Silva brings significant expertise in energy, environment, and stakeholder engagement.
“We are excited to have Gitane join us in this role and to be a part of our executive leadership team,” Reinsborough said.