ReconAfrica is expediting its drilling plan for the Prospect I exploration well in Namibia, now scheduled to begin in Q2 2025. Initial surveys and debushing are complete, paving the way for significant oil and natural gas resources targeted in the region, although commercial viability remains uncertain.
Reconnaissance Energy Africa Ltd. (ReconAfrica) is advancing its drilling operations for the Prospect I exploration well in Namibia. The company has completed initial surveying and is currently engaged in debushing activities, with demining set to commence shortly. Due to this rapid progress, ReconAfrica has moved the anticipated 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 emphasized that ongoing community engagement, surveying, debushing, and demining are underway, with plans for the construction of a 10-kilometer road and drill pad site.
Prospect I is recognized as one of the largest mapped structures within the Damara Fold Belt and is well-captured through 2D seismic imaging. The well is expected to penetrate over 1,500 meters of the Otavi reservoir. Previous drilling at Naingopo bolstered confidence in this venture, revealing reservoir presence in the Otavi carbonates along with hydrocarbon shows and oil at the surface.
The potential of Prospect I is substantial, targeting 365 million barrels of unrisked and 32 million barrels of risked prospective light/medium oil resources, alongside 1.7 trillion cubic feet of unrisked and 126 billion cubic feet of risked prospective natural gas resources. These estimates are based on the report from Netherland, Sewell, & Associates, Inc. (NSAI), an independent reserves evaluator, with Prospect I identified as location 63 in their findings.
In conclusion, ReconAfrica is strategically progressing its activities toward drilling Prospect I in Namibia, having accelerated the timeline for spudding to Q2 2025 due to successful preliminary phases. The prospects in the Damara Fold Belt present significant potential for oil and natural gas resources, enhancing the excitement surrounding this exploration well. However, caution is warranted as the commercial viability of resource extraction remains uncertain.
Original Source: www.worldoil.com
