Reconnaissance Africa is targeting 346 million barrels of gross unrisked – 30 million barrels of gross risked – prospective light to medium crude oil resources at the Kavango West-1X well on a 100% working interest basis.
The Canadian company also states that it is targeting 312 million barrels net unrisked, or 27 million barrels net risked, to its 90% working interest.
Based on the December 2024 Netherland, Sewell & Associates, Inc. (NSAI), Kavango West-1X well could produce 1,839 billion cubic feet of gross unrisked – 133 billion cubic feet risked – prospective natural gas resources on 100% working interest basis and 1,655 billion cubic feet unrisked net – 120 billion cubic feet net risked – to ReconAfrica’s 90% working interest as at the date of the NSAI report.
ReconAfrica plans to drill the Kavango West-1X to a total depth of approximately 3,800 metres (12,500 feet).
The Kavango West-1X well is ReconAfrica’s second test in the expansive Damara Fold Belt play.
The prospect is a large fold identified on modern 2D seismic data, extending approximately 20 kilometres in length and 5 kilometres in width.
It is expected to penetrate a thick Otavi carbonate reservoir section, which is the primary target in the play.
In May 2025, ReconAfrica President and CEO Brian Reinsborough said Kavango West-1X on PEL 73 in the Kavango onshore basin will be the company’s largest exploration prospect drilled to date.
Reinsborough said at the time that ReconAfrica had conducted extensive stakeholder and community engagement activities and obtained local consent.
Meanwhile, ReconAfrica has completed its previously announced and upsized underwritten public offering for C$0.50 per unit, including the whole exercise of the over-allotment option, for aggregate gross proceeds of approximately C$19 million.
The offering was led by Research Capital Corporation as the lead underwriter and sole book-runner on behalf of a syndicate of underwriters that included Canaccord Genuity Corp. and Haywood Securities Inc.
BW Energy Limited, the directors and management of ReconAfrica, and confident other investors participated in the offering for approximately C$4.7 million.
The net proceeds from the offering will be used for exploration activities, working capital and general corporate purposes.
The primary exploration activity to be funded with net proceeds from the offering will be the drilling of Prospect I, which has been named the Kavango West 1X well. Work on the access road and drill site is currently being completed while the company awaits receipt of the remaining requisite permits.
The rig mobilisation to the Kavango West 1X location is scheduled for late June, with drilling to commence thereafter.
