ReconAfrica accelerates its drilling plan for the Prospect I well in Namibia, moving the spud date to Q2 2025. Preparatory activities are ongoing, aiming to access significant oil and gas resources within the Damara Fold Belt, as supported by previous exploration findings.
Reconnaissance Energy Africa Ltd. is advancing its drilling plans for the Prospect I exploration well in Namibia. Initial surveying has been completed, and ongoing debushing activities will be followed by demining efforts in the upcoming weeks. Consequently, the company has expedited the spud date for Prospect I to the second quarter of 2025.
Brian Reinsborough, President and CEO of ReconAfrica, stated, “We have made great progress in getting Prospect I ready to drill and, as a result, we are accelerating the spud date into Q2 2025.” He noted that in-country teams are engaging with local communities, surveying, and preparing for the construction of a road and drill pad.
Prospect I, located within the Damara Fold Belt, features one of the largest mapped structures in the area, is well-represented in 2D seismic data, and is projected to reach over 1,500 meters into the Otavi reservoir. Drilling plans have been bolstered by positive findings from the Naingopo well, which revealed oil to surface and hydrocarbon shows in the Otavi carbonates, thus reducing drilling risks.
The target for Prospect I includes 365 million barrels of unrisked and 32 million barrels of risked prospective light and medium oil resources, alongside 1.7 trillion cubic feet of unrisked and 126 billion cubic feet of risked prospective natural gas resources, based on the latest report from Netherland, Sewell, & Associates, Inc. (NSAI), an independent reserves evaluator. This well is categorized as location 63 in the NSAI report.
In conclusion, Recon Africa is making significant strides in its efforts to expedite drilling for the Prospect I exploration well in Namibia, pushing the anticipated spud date to Q2 2025. As initial preparatory activities are being finalized, the prospect holds substantial potential for oil and natural gas resources, reflecting a carefully calculated advancement in the exploration of the Damara Fold Belt.
Original Source: www.worldoil.com
