ReconAfrica Accelerates Drilling Timeline for Prospect I in Namibia

ReconAfrica is accelerating the drilling plan for Prospect I in Namibia, with spud date moved to Q2 2025. Initial activities have included surveying, debushing, and preparations for demining. The well targets significant oil and gas resources, but uncertainties about resource recovery remain.

Reconnaissance Energy Africa Ltd. is advancing its drilling plans for Prospect I in Namibia. Initial surveying has been completed, while debushing is ongoing. Demining activities are expected to commence shortly, leading to an accelerated spud date for Prospect I, now set for the second quarter of 2025. Brian Reinsborough, President and CEO, noted progress in community engagement and site preparation activities, which will include building a 10-kilometer road and a drill pad.

Prospect I is recognized as one of the largest mapped structures within the Damara Fold Belt, as evidenced by favorable 2D seismic imaging. It is designed to penetrate over 1,500 meters of the Otavi reservoir. Initial drilling at the Damara Fold Belt well, Naingopo, significantly mitigated risks by showing reservoir presence in the Otavi carbonates and hydrocarbon indicators, heightening excitement for this follow-on exploration.

With a target of 365 million barrels of unrisked and 32 million barrels of risked light/medium oil resources, along with 1.7 trillion cubic feet of unrisked and 126 billion cubic feet of risked natural gas resources, Prospect I occupies a critical position in their energy portfolio. These estimates stem from a recent report by Netherland, Sewell, & Associates, Inc. (NSAI). However, the company emphasizes that the discovery and commercial viability of these resources remain uncertain, as prospective resources consist of and depend on various probability distributions.

ReconAfrica is making significant strides in preparing for the drilling of Prospect I in Namibia, now slated for Q2 2025. The project has shown promising geological characteristics, underscoring its potential for substantial oil and gas resources. However, it is important to note the inherent uncertainties associated with resource discovery and production viability. The upcoming drilling efforts may unlock important hydrocarbon reserves in the region.

Original Source: www.worldoil.com