ReconAfrica has drilled the Naingopo exploration well on PEL 73 in the Kavango basin to a depth of 1,450 meters, with surface casing set at 350 meters and a first casing string set at 1,200 meters.
The company spudded the well early last month, and the well has been tracking drilling depth and well cost estimates, with everything on schedule and plan.
The well aims to drill to a depth of approximately 3,800 meters (12,500 feet) and is expected to encounter four primary reservoir intervals targeting oil and natural gas.
The well would be a significant play-opening discovery if successful, providing access to multiple drill-ready prospects.
The Naingopo well is targeting 181 million barrels of unrisked prospective light and medium oil resources, or 937 billion cubic feet of prospective natural gas resources, on a 100% working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell & Associates, Inc.
Elsewhere on PEL 73, ReconAfrica started construction on the access road leading to Prospect P, the second Damara Fold Belt exploration well, targeted to commence drilling in Q4 2024.
Prospect P targets 309 million barrels of unrisked prospective light and medium oil resources or 1.6 trillion cubic feet of prospective natural gas resources on a 100% working interest basis.
The company is working with Polaris Natural Resources Ltd. to test the use of vibroseis as a source for the potential acquisition of 3D seismic covering a section of the Kavango Rift Basin.
Current testing is being undertaken to compare results using the vibroseis as a source compared to previously acquired data using the acceleration weight drop system. The testing results will provide the data needed to plan and execute a potential 3D seismic program in 2025.
ReconAfrica CEO Brian Reinsborough said the Naingopo well is drilling on schedule and budget to a depth of 1,450 meters.
Reinsborough said they would soon be drilling into key, targeted intervals throughout the remainder of the well.
“We are targeting to complete drilling in early October, with results after that,” Reinsborough said.
“We are executing multiple facets of our high-impact exploration program, which we expect to deliver significant value to shareholders,” Reinsborough said.
He added that the joint venture agreement with BW Energy focuses on returns to operations associated with the Naingopo exploration well and other activities on PEL 73.
