ReconAfrica Ltd. is accelerating the drilling plan for its Prospect I in Namibia, moving the spud date to Q2 2025. Significant progress has been made in terms of surveying, debushing, and community engagement. The anticipated resources project substantial oil and natural gas potential, although actual discovery and commercial viability are not guaranteed.
Reconnaissance Energy Africa Ltd. is advancing its drilling plan for Prospect I in Namibia. Initial surveying has been finalized, while debushing is currently underway, and demining activities are scheduled for the upcoming weeks. Due to the progress made, the commencement, or spud date, for Prospect I has been advanced to the second quarter of 2025.
Brian Reinsborough, President and CEO of ReconAfrica, stated, “We have made great progress in getting Prospect I ready to drill and, as a result, we are accelerating the spud date into Q2 2025.” The company has initiated community engagement alongside surveying, debushing, and demining operations, which will precede the construction of a 10-kilometer road and a drilling pad site.
Prospect I is recognized as one of the most significant mapped structures within the Damara Fold Belt. It has been effectively imaged via 2D seismic studies, showcasing a four-way dip closure where the company intends to drill over 1,500 meters into the Otavi reservoir. The forthcoming drilling is expected to be less risky due to the findings from the Naingopo well, which previously revealed hydrocarbon shows and oil at the surface.
The anticipated resources at Prospect I comprise 365 million barrels of unrisked and 32 million barrels of risked prospective light/medium oil, along with 1.7 trillion cubic feet of unrisked and 126 billion cubic feet of risked prospective natural gas resources, per the most recent report by Netherland, Sewell, & Associates, Inc. (NSAI). Prospect I holds the designation as location 63 in the NSAI report.
In summary, ReconAfrica is intensifying its drilling initiatives for Prospect I in Namibia, having accelerated the spud date to Q2 2025. The company is optimistic about the hydrocarbon potential, buoyed by the findings from prior drilling efforts in the region. The calculated prospective resources indicate substantial potential, although the commercial viability remains uncertain until actual discovery and development phases are undertaken.
Original Source: www.worldoil.com
