VANCOUVER, BC, July 30, 2021 /CNW/ - Reconnaissance Energy
Africa Ltd. (the "Company"
or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF)
(Frankfurt: 0XD) is pleased to
announce initiation of the 450km 2D seismic program and a
comprehensive community water well drilling campaign in the Kavango
basin of NE Namibia.
Seismic Program
This 450km 2D seismic program is the first seismic acquisition
project to ever be conducted in the Kavango Basin. With the success
of the first two recently drilled stratigraphic wells confirming an
active conventional petroleum system within the basin, this seismic
program is designed to delineate potential traps and hydrocarbon
reservoirs.
Ninety five percent of the seismic program will be conducted on
existing roads over 10 seismic lines. The first line, near the
village of Koro, has been in test phase for the last week and has
now moved into full acquisition.
The acquisition program is provided by Polaris, Canada's oldest and most internationally
experienced geophysical firm. The seismic equipment, which was
developed in western Canada, is
designed for low-environmental-impact seismic acquisition while
delivering good energy for subsurface penetration. Three Polaris
Explorer 860 seismic acquisition tractors, of which each are only
3m wide and specially designed for
environmentally sensitive areas, will be used. This system operates
at low frequency to protect wildlife communications and will not
operate at night when elephants typically communicate.
The program, including processing and initial local
interpretation, should be concluded by the end of October 2021. The results, integrated with the
Vertical Seismic Profiles currently being prepared for the 6-2 and
6-1 wells, will be used to guide the next round of drilling,
expected to commence before year end.
This program provides good employment over the course of two to
three months across both east and west Kavango regions, with 50-60
field support personnel rotating from local villages. This
operation is utilizing local lodges, four flycamps (support camps)
along with many local suppliers such as hotels, rentals, yards,
catering.
Vertical Seismic Profile
With multiple logging runs completed and 86 sidewall cores
now taken in the 6-1 well, ReconAfrica is preparing to run and
cement casing to isolate the prospective hydrocarbon bearing zones.
Shortly thereafter, a vertical seismic profile tool ("VSP") will be
run to total depth to tie into the 2D seismic program. The first
stratigraphic test well, the 6-2, will also have a VSP run and the
two wells will be tied together along the same seismic line in
order to assess geologic continuity between these two wells.
Community Water Wells
In addition to the four community water wells ReconAfrica has
drilled thus far, working in alliance with the Ministry of
Agriculture, Water and Land Reform and Governors offices of east
and west Kavango, the Company has permitted an additional 20
community water wells. The exact locations of these water wells are
being selected strategically throughout both the east and west
Kavango regions to community members who need access to fresh water
the most. Of the 20 permitted water wells, eight locations have now
been selected.
A competitive bidding process has been conducted with local
water well drilling companies. The final selection of two drilling
companies will take place the first week of August. ReconAfrica
expects to begin drilling and completing these first eight water
wells during the second week of August.
The budget for the drilling and completion of the initial eight
of 20 community water wells is approximately NAD $4,153,000 (CDN $355,000). All community water wells will be
solar powered.
6-2 Well Update
The release of additional information on the 6-2 well (the first
test well) is expected to be provided in the next week following
submittal and acceptance of all data to the Namibian government in
accordance with the Namibian Petroleum Law. Appropriate information
will be released with the approval of relevant government agencies.
All data obtained from the Company's exploration activities is the
property of the state of Namibia,
consistent with the terms of our exploration licence and with
practices in most international producing oil and gas
jurisdictions. Oil and gas data is held proprietary for five years
under the terms of Namibian Petroleum Law, which is also common
international practice.
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the
opening of the newly discovered deep Kavango Sedimentary Basin, in
the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum
licences comprising approximately 8.5 million contiguous acres. In
all aspects of its operations, ReconAfrica is committed to minimal
disturbances in line with international best standards and will
implement environmental and social best practices in all of its
project areas.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking
Statements: Certain statements contained in this
press release constitute forward-looking information under
applicable Canadian, United States
and other applicable securities laws, rules and regulations,
including, without limitation, statements with respect to the first
two stratigraphic wells confirming an active conventional petroleum
system within the basin, the seismic program being designed to
delineate potential traps and hydrocarbon reservoirs, the seismic
program to be concluded by the end of October 2021 with the results to be used to guide
the next round of drilling expected to commence before year end,
the seismic program providing good employment over the course of
two to three months, ReconAfrica preparing to run and cement casing
to isolate the prospective hydrocarbon bearing zones, the VSP to be
run to total depth to tie into the 2D seismic program, the
final selection of two drilling companies for the community water
wells taking place the first week of August, ReconAfrica expecting
to begin drilling and completing the first eight water wells during
the second week of August, the budget for the drilling and
completion of the initial eight community water wells being
approximately CDN $355,000, all
community water wells being solar powered. , and the Company's
commitment to minimal disturbances in line with international best
standards and its implementation of environmental and social best
practices in all of its project areas. These statements relate to
future events or future performance. The use of any of the words
"could", "intend", "expect", "believe", "will", "projected",
"estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify
forward-looking information and are based on ReconAfrica's current
belief or assumptions as to the outcome and timing of such future
events. There can be no assurance that such statements will prove
to be accurate, as the Company's actual results and future events
could differ materially from those anticipated in these
forward-looking statements as a result of the factors discussed in
the "Risk Factors" section in the Company's amended and restated
annual information form dated May 19,
2021 available under the Company's profile
at www.sedar.com. Actual future results may differ materially.
Various assumptions or factors are typically applied in drawing
conclusions or making the forecasts or projections set out in
forward-looking information. Those assumptions and factors are
based on information currently available to ReconAfrica. The
forward-looking information contained in this release is made as of
the date hereof and ReconAfrica undertakes no obligation to update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
SOURCE Reconnaissance Energy Africa Ltd.