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Highlights
- Reconnaissance Energy Africa Ltd dual-lists on the Namibian Stock Exchange (NSX), becoming the first publicly traded oil and gas company on the NSX.
- Drilling progresses at Petroleum Exploration Licence 073 (PEL 73) in Namibia, aiming for target depths nearing 3,800 meters.
- A 3D seismic survey, the first of its kin asin play. d onshore in Namibia, is planned for mid-2025 in the Kavango Rift Basin play.
Reconnaissance Energy Africa Ltd (TSXV:RECO) has secured a dual listing on the Namibian Stock Exchange (NSX), making it the first publicly traded oil and gas company on the NSX. This move aligns with the company's focus on expanding its presence in southern Africa and underscores its commitment to the regional energy sector. The addition to the NSX reflects ReconAfrica's growing operational footprint and positions it strategically within Namibia's emerging oil and gas industry.
Advancement in Namibian Drilling Operations
At the Petroleum Exploration Licence 073 (PEL 73) site in Namibia, ReconAfrica resumed drilling operations in mid-October. The company targets significant depths of around 3,800 meters to explore potential hydrocarbon reserves. With the project already reaching depths of approximately 3,500 meters, the company continues to monitor and analyze logging data, which will be thoroughly evaluated following drilling completion. Any hydrocarbon samples retrieved will undergo detailed examination to better understand the geological formations in the region.
Progress on Infrastructure for Kambundu Exploration
In addition to drilling activities, ReconAfrica is preparing infrastructure for the upcoming Kambundu well within PEL 73. Road construction is nearing completion, and well site preparations are underway. Following the analysis of results from the ongoing Naingopo drilling operations, the company intends to shift its focus to the Kambundu site. These preparations reflect the company’s forward-looking approach to ensuring efficient transitions between projects within the exploration license area.
Pioneering 3D Seismic Survey on Namibian Soil
ReconAfrica has announced plans for an onshore 3D seismic survey across 500 kilometers within the Kavango Rift Basin. This survey, scheduled for mid-2025, will mark Namibia’s first onshore 3D seismic data acquisition, showcasing the company’s role in pioneering advanced exploration techniques in the region. The seismic data is expected to provide valuable insights into the subsurface structure of the Kavango Rift, potentially identifying viable oil and gas reservoirs within the basin.
Expansion into Botswana with New Exploration License
Alongside its Namibian operations, ReconAfrica has obtained approval for an exploration license under PEL 001 in Botswana, which remains valid until September 2028. This addition aligns with the company’s strategy of expanding its exploration activities within southern Africa. The Botswana license will allow ReconAfrica to assess potential hydrocarbon reserves, strengthening its asset base across the region.
