ReconAfrica President and CEO Brian Reinsborough says they are encouraged by the progress of the necessary pre-drill activities on Prospect I, which is moving us closer to spudding the well.
Prospect I on PEL 73 in the Kavango basin will be the company’s largest exploration prospect drilled to date.
ReconAfrica says it has conducted extensive stakeholder and community engagement activities and obtained local consents.
Additionally, ReconAfrica is completing permitting requirements and obtaining all regulatory approvals.
Pre-construction activities are currently underway, including, de-brushing, de-mining, access road infrastructure development and drill site preparation. According to an operational update for the three-month period ended March 31, 2025, prioritising Prospect I as the next drillable prospect was significantly influenced by the drilling results of the Naingopo prospect, which has confirmed the presence of carbonate reservoir, indications of oil observed from the Damara Fold Belt and oil being recovered at surface in the drilling mud system.
The results from the Naingopo exploration well were released on January 30, 2025.
Reinsborough says the permitting for road and pad construction is proceeding as planned, and they anticipate the rig to move in late June, with the spud shortly thereafter.
He said any potential adjustments to the spud date are purely logistical, and our positive view on the prospectivity of the target remains unchanged and continues to be a key focus of our communications.
