AfrOil: ReconAfrica set to complete maiden oil, gas exploration drilling in Namibia

A Canadian oil and gas company, Reconnaissance Energy Africa (ReconAfrica), has drilled about 4,000 metres at its onshore Naingopo exploration well in Namibia.

In an operational update it released on November 21 for the quarter ended September 30, the TSXV, OTCQX and Frankfurt-listed firm said soon after reaching the stipulated depth at Naingopo that it will move to a second well in the southwestern African country.

On completion of drilling at Naingopo, it will undertake a "comprehensive" logging and coring programme, and perform a vertical seismic profile of the well.  Results of the well will be provided following a thorough analysis of an extensive logging programme and any obtained oil or natural gas samples.

On the second well, Kambundu, ReconAfrica noted that road and well site construction activities are nearly complete. It anticipates moving to Kambundu following the complete analysis of the results of the Naingopo exploration well.

Commenting on the work the firm has done during the quarter, Brian Reinsborough, ReconAfrica president and CEO, said the company had undergone “significant” change over the reporting period.

Among the highlights was its reduction of general and administrative costs by about $1mn compared to the corresponding period in 2023.

“We have nearly completed drilling operations on the Naingopo exploration well, our first Damara Fold Belt well, and have prepared the access roads and well pad for our second well, Kambundu," he said.

"We are also planning the first onshore 3D seismic programme ever completed in Namibia. Our technical team are proven oil finders who have created significant value in the past while we have added significant experience at the executive level and added core competencies at the board level."

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