ReconAfrica says it will start in 2024 with land access work, community engagement, demining activities, and critical equipment and service procurement in progress.
The Canadian oil and gas company, which holds petroleum licenses comprising approximately 6.3 million acres of Petroleum Exploration Licence 73 in the Kavango Basin, suspended its drilling programme in July 2023.
In October 2023, ReconAfrica’s CEO, Brian Reinsborough, said ReconAfrica would launch a new drilling campaign in early 2024.
The mines ministry approved ReconAfrica’s Second Renewal Exploration Period from January 30, 2024, to January 29, 2026.
Under the terms of the Second Renewal Exploration Period, ReconAfrica will acquire additional subsurface data, including either:
(i) 500 km of 2D seismic data,
(ii) 1,200 km2 of enhanced full tensor gradiometric data, or
(iii) some combination of (i) or (ii), which is considered reasonable.
Additionally, ReconAfrica will be required to design and drill at least one exploration or stratigraphic test well.
A minimum dollar commitment equivalent to the above items is also required.
The approval of the Second Renewal Exploration Period is a crucial outcome as the company looks to continue exploring the potential of the Kavango Basin within PEL 73.
ReconAfrica also received its Environmental Clearance Certificate in July to commence drilling an additional 12 exploration and appraisal wells to unrestricted depths to establish commercial accumulations of oil, natural gas, and natural gas liquids identified in the first three stratigraphic test wells.
According to ReconAfrica, the environment ministry approved minor amendments to the approved Environmental Clearance Certificate to reflect the specific locations of the planned wells to be drilled.
The company said it is undertaking activities to have a good pad ready for drilling in late Q1 2024 in each focus basin, an oil-targeted well in the Rift Basin, and a gas-focused well in the Damara Fold Belt.
About ReconAfrica
ReconAfrica holds a 90% interest in a petroleum exploration licence in northeast Namibia. State-owned Namcor holds the other 10%.
The licence has an exploration period comprising several phases, ending January 29, 2025, or, if extensions are requested and granted, ending January 29, 2029.
The exploration license covers the entire Kavango sedimentary basin, an area of approximately 25,341.33 sq km (6.3 million acres), and based on commercial success, it entitles ReconAfrica to obtain a 25-year production licence.
Also, ReconAfrica holds a 100% interest in a petroleum licence in northwest Botswana, which comprises an area of approximately 8,990 sq km (2.2 million acres) and is contiguous to the Namibian licence. The two licences together comprise 34,325 sq km (8.5 million acres).
ReconAfrica acquired a high-resolution aeromagnetic survey of the licence area and conducted a detailed analysis of the resulting data and other available data, including reprocessing and reinterpreting all existing geological and geophysical data.
The survey and analysis confirm that the Kavango Basin reaches depths of up to 30,000 feet under optimal conditions to preserve a thick interval of organic-rich marine source rocks. The company’s initial work program has confirmed the presence of an active petroleum system in the Kavango Basin.
