Reconnaissance Energy Africa Ltd

Description

Reconnaissance Energy Africa Ltd (TSXV: RECO) is a junior energy company focused on exploration operations in Namibia and Botswana.

In North-East Namibia, the oil and gas firm owns a 90 per cent of a petroleum exploration license and full ownership of exploration license for petroleum in Botswana’s North-West.

The Botswana property covers the whole Kavango sedimentary basin that offers large scale conventional play types. However, the exploration license in Namibia region covers an area of 6.3 million acres and 2.2 million covers in Botswana region. Reconnaissance Energy claims to have right to operate on both the projects for a period of 25 years.

It also claims to have conducted a high-resolution aeromagnetic survey on its properties and confirmed existence of thick interval of organic rich marine source rock and active petroleum system along the Kavango Basins that reaches depths up to 30,000 feet.

Recon Africa has reportedly collaborated with the government of Namibia to conduct its exploration operations in northeast Namibia and northwest Botswana. The company has obtained legal licenses to initiate drilling programs in the Kavango basin and discover the existence of petroleum system.

However, it claims that it has no licenses to engage in hydraulic fracturing or oil production at the site. The samples discovered during the drilling program are owned by The Namibia’s Ministry of Mines and Energy.

The junior energy company claims that first well was drilled in March 2021. In addition, it says that the drilling studies confirm the presence of petroleum in Kavango and can pave way for further scientific studies to prove the reserve as economically viable and productive.

The company had also announced additional drilling programs for the months of May and June 2021 to collect additional data on the discovered petroleum systems.

A low impact two dimensional seismic survey program is also scheduled to confirm the conventional resource, it claims. In early May 2021, the firm began drilling operations on its second well.