Reconnaissance Energy Africa Ltd. (ReconAfrica) says drilling of its Kavango West 1X exploration well in Namibia remains on track, with the company expecting to penetrate the Otavi reservoir in late October and reach total depth by the end of November.
“We spud the Kavango West 1X well on 31 July, as planned. Our operations team is doing a great job and drilling remains on schedule. We expect to penetrate the Otavi reservoir in late October and reach total depth by the end of November. We look forward to reporting well results to all stakeholders around year-end,” said ReconAfrica President and CEO, Brian Reinsborough.
The well is designed to reach 3,800 metres and is the company’s first test of the Damara Fold Belt play. It aims to intersect more than 1,500 metres of Otavi carbonate reservoir and is drilling into a structural fold identified by modern 2D seismic, stretching 22 kilometres long and 3 kilometres wide. It is the first of 19 mapped prospects and four leads in the Damara Fold Belt.
Chris Sembritzky, Senior Vice President of Exploration, said the programme builds on previous work.
“By utilising our learnings from the Naingopo well, Kavango West 1X represents the best opportunity we have identified on seismic in the Damara Fold Belt play due to its size, hydrocarbon migration pathway, and well-defined four-way closure,” he said.
ReconAfrica said the location was chosen after reviewing results from the Naingopo well, which led to changes in the original drilling schedule.
“We think that the Kavango West 1X prospect represents our best opportunity in the Damara Fold Belt to unlock the potential of this play,” Reinsborough added.
In its latest financial update, the company reported closing a C$19 million equity financing on 17 June, up from the original C$10 million announced on 4 June.
The company has deferred its planned 3D seismic survey to 2026 but said it is continuing to assess further acreage acquisitions and possible joint ventures to strengthen its portfolio and speed up progress toward production.
“With our new subsurface learnings, highly experienced drilling crew and optimised, purpose-built drill bits, we believe that we have captured the best possible chance for drilling an efficient, safe and commercially successful well,” Sembritzky said.
Separately, ReconAfrica granted 6,960,000 incentive stock options to directors, officers, employees and consultants. The options, priced at US$0.60 per share, expire on 31 July 2030 and are subject to standard vesting conditions and insider resale restrictions until 30 November 2025.
ReconAfrica holds petroleum licences covering roughly 13 million contiguous acres across northeastern Namibia, southeastern Angola and northwestern Botswana.
