28 Nov 2024
Canadian Energy Firm Targets Vast Oil and Gas Resources in the Damara Fold Belt
Reconnaissance Energy Africa Ltd. (ReconAfrica) has completed drilling operations on its Naingopo exploration well, located on Petroleum Exploration Licence 073 in onshore Namibia.
The well reached a total depth of 4,184 meters (13,727 feet), surpassing its initial target depth of 3,800 meters, the company announced.
ReconAfrica is set to begin an evaluation program to analyze subsurface data and assess the resource potential of the area.
“The Naingopo well is the first of several to test the potential resource of the Damara Fold Belt,” CEO Brian Reinsborough told shareholders.
The evaluation process will include wireline logging, coring, Modular Formation Dynamics Tester (MDT) sampling and testing, and a Vertical Seismic Profile (VSP). Preliminary results from the Naingopo well are expected in the coming weeks, the company said.
“Our technical team will then assess all data to determine the results, which will assist us in finalizing further plans in the Damara Fold Belt,” Reinsborough added.
The Naingopo well is targeting an estimated 181 million barrels of unrisked and 15 million barrels of risked prospective light/medium oil resources, or 937 billion cubic feet of unrisked and 65 billion cubic feet of risked prospective natural gas resources.
Following the Naingopo evaluation, ReconAfrica plans to shift operations to the Kumbundu (Prospect P) site.
The Kumbundu well is expected to target larger potential resources, with estimates of 309 million barrels of unrisked and 15 million barrels of risked prospective oil, or 1.6 trillion cubic feet of unrisked and 64 billion cubic feet of risked prospective natural gas.
ReconAfrica will conduct repair and maintenance work on the Jarvie-1 drilling rig this month before mobilizing to the Kumbundu site.
ReconAfrica, a Canadian oil and gas exploration company, focuses on the Damara Fold Belt and Kavango Rift Basin within the Kalahari Desert region of northeastern Namibia and northwestern Botswana. The company holds petroleum licenses covering roughly 8 million contiguous acres.