ReconAfrica has advanced the drilling timeline for Prospect I in Namibia to Q2 2025, following successful completion of initial surveys and ongoing preparations. The project anticipates significant oil and gas resources, although the discovery and commercial viability remain uncertain.
Reconnaissance Energy Africa Ltd. is progressing with the drilling of Prospect I in Namibia. Initial surveying has been finalized, ongoing debushing activities are in motion, and demining is scheduled for the upcoming weeks. Consequently, the spud date for Prospect I has been advanced to the second quarter of 2025.
Brian Reinsborough, President and CEO of ReconAfrica, stated that significant advancements have been made in readiness for drilling at Prospect I. Community engagement and preparatory construction, including a 10-km road and drill pad, are underway to support ongoing exploration efforts.
Prospect I features one of the largest mapped structures in the Damara Fold Belt, with a well-defined four-way dip closure as seen through 2D seismic imaging. The drilling location has been de-risked based on favorable results from the Naingopo well, which revealed hydrocarbon presence and oil occurrences in the Otavi carbonates.
The exploration at Prospect I targets an estimated 365 million barrels of unrisked and 32 million barrels of risked prospective light/medium oil resources, along with 1.7 trillion cubic feet of unrisked and 126 billion cubic feet of risked prospective natural gas resources, per a recent evaluation by Netherland, Sewell, & Associates, Inc. (NSAI).
It is important to note that the discovery of prospective resources is uncertain, and if discovered, commercial viability is not guaranteed. Prospective resources only reflect estimated recoverable quantities and have an associated chance of discovery and potential for development.
ReconAfrica is advancing its exploration endeavors in Namibia, particularly with the drilling of Prospect I, now targeted for Q2 2025. The potential resources at this site are significant, with high estimates for both oil and gas. However, prospects remain uncertain regarding discoverability and commercial viability, as outlined in the evaluation reports.
Original Source: www.worldoil.com
