VANCOUVER, BC , Jan. 11, 2021 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSX-V: RECO) (OTCQX: RECAF) ( Frankfurt : 0XD) is pleased to announce, it has commenced drilling operations on the first well (6-2), of an initial three well program, in the deep Kavango Basin in the Kalahari Desert of North East Namibia.
With the Company owned and operated 1,000 HP rig (Jarvie-1), we are now drilling ahead to a planned 12,500 feet total depth (TD) to evaluate potential hydrocarbon systems in one of five major sub-basins of the larger, more laterally extensive, Permian aged Kavango basin.
The first prospective section of the well is designed to reach 4,800 feet in depth where intermediate casing will be set. Sidewall cores and well logs will be run from an interval of 1,000 to 4,800 feet to identify conventional targets. The well prognosis provides for reaching the top of the Permian section at approximately 4,000 feet.
The second section of the well is designed to reach a TD of 12,500 feet drilling through the intermediate to lower Permian sections. While drilling the lower sections the Company will take whole core and conduct a full logging suite of all zones of interest (conventional targets and source rocks). A comprehensive state of the art logging program over both sections will be provided by Schlumberger.
The 6-2 well will be drilled with water-based drilling fluid providing ideal samples (cuttings and core) to be utilized to determine a range of petroleum properties and locations for future exploration and production wells.
In keeping with the Company's policy of implementing environmental best practices, ReconAfrica is working with Valence Drilling Fluids, a North American company that provides all organic & biodegradable drilling fluids which are fully environmentally safe, for many aspects, including topsoil enhancement and development. "We welcome the opportunity to work alongside ReconAfrica on this project as they are a company that understands the importance of environmental protection with proven results," stated Gareth Eckhout , VP, Valence Drilling Fluids.
"Drilling the first three wells in a newly discovered Permian basin, where one company holds all of the rights, is certainly a rare opportunity. There are many important similarities between the Kavango basin and the Permian Basin in West Texas , one of the world's most prolific producing basins, where I have been actively drilling and completing wells for many years," said Nick Steinsberger , SVP of Drilling and Completions. "I anticipate the first well will take up to 45 days to reach total depth and initial analysis of all prospective productive targets."
Dan Jarvie , ReconAfrica's geochemist said, "This important three well drilling program will provide ReconAfrica an initial assessment of the various Permian-age potential petroleum systems such as found in the age-equivalent Permian basin in Texas and Karoo basin in South Africa . Geological and geochemical analysis will provide details on potential, stacked conventional reservoirs as well as multiple petroleum source rocks. Petroleum source rock and stratigraphic analysis will provide the Company with a basis for assessing the timing of light oil generation, its expulsion and migration to conventional reservoirs for future production."
With the first successful community water well now in operation, ReconAfrica is engaged with the appropriate authorities in drilling three additional community water wells. We are currently in the process of identifying optimum well locations for community members who are the most in need of access to safe drinking water. To this regard, please see "The Voices Of Kavango" .
We continue with ongoing engagement and meetings with our stakeholders as well as hiring local and national experts, procuring products and services in the region and throughout Namibia . ReconAfrica is committed to a responsible approach to our business and we demonstrate this by our actions.
ReconAfrica is a junior, Canadian oil and gas company engaged in the opening of the newly discovered deep Kavango Sedimentary Basin, in the Kalahari Desert of northeastern Namibia and northwestern Botswana , where the Company holds petroleum licenses comprising approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbances in line with international best standards and will implement environmental and social best practices in all of its project areas.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to the Company's proposed exploration and drilling activities and timelines and the anticipated results of the Company's proposed exploration and drilling activities , the Company's implementation of environmental and social best practices and the Company's engagement with local authorities and communities These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on ReconAfrica's current belief or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the "Risk Factors" section in the Company's annual information form dated July 27, 2020 available under the Company's profile at www.sedar.com . Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Reconnaissance Energy Africa Ltd.
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