VANCOUVER, BC, Jan. 11, 2021 /CNW/ - Reconnaissance Energy
Africa Ltd. (the "Company" or "ReconAfrica") (TSX-V: RECO) (OTCQX:
RECAF) (Frankfurt: 0XD) is pleased
to announce, it has commenced drilling operations on the first well
(6-2), of an initial three well program, in the deep Kavango Basin
in the Kalahari Desert of North East Namibia.
Drilling Operations
With the Company owned and operated 1,000 HP rig (Jarvie-1), we
are now drilling ahead to a planned 12,500 feet total depth (TD) to
evaluate potential hydrocarbon systems in one of five major
sub-basins of the larger, more laterally extensive, Permian aged
Kavango basin.
The first prospective section of the well is designed to reach
4,800 feet in depth where intermediate casing will be set. Sidewall
cores and well logs will be run from an interval of 1,000 to 4,800
feet to identify conventional targets. The well prognosis provides
for reaching the top of the Permian section at approximately 4,000
feet.
The second section of the well is designed to reach a TD of
12,500 feet drilling through the intermediate to lower Permian
sections. While drilling the lower sections the Company will take
whole core and conduct a full logging suite of all zones of
interest (conventional targets and source rocks). A comprehensive
state of the art logging program over both sections will be
provided by Schlumberger.
The 6-2 well will be drilled with water-based drilling fluid
providing ideal samples (cuttings and core) to be utilized to
determine a range of petroleum properties and locations for future
exploration and production wells.
In keeping with the Company's policy of implementing
environmental best practices, ReconAfrica is working with Valence
Drilling Fluids, a North American company that provides all organic
& biodegradable drilling fluids which are fully environmentally
safe, for many aspects, including topsoil enhancement and
development. "We welcome the opportunity to work alongside
ReconAfrica on this project as they are a company that understands
the importance of environmental protection with proven results,"
stated Gareth Eckhout, VP, Valence
Drilling Fluids.
"Drilling the first three wells in a newly discovered Permian
basin, where one company holds all of the rights, is certainly a
rare opportunity. There are many important similarities between the
Kavango basin and the Permian Basin in West Texas, one of the world's most prolific
producing basins, where I have been actively drilling and
completing wells for many years," said Nick
Steinsberger, SVP of Drilling and Completions. "I anticipate
the first well will take up to 45 days to reach total depth and
initial analysis of all prospective productive targets."
Dan Jarvie, ReconAfrica's
geochemist said, "This important three well drilling program will
provide ReconAfrica an initial assessment of the various
Permian-age potential petroleum systems such as found in the
age-equivalent Permian basin in Texas and Karoo basin in South Africa. Geological and geochemical
analysis will provide details on potential, stacked conventional
reservoirs as well as multiple petroleum source rocks. Petroleum
source rock and stratigraphic analysis will provide the Company
with a basis for assessing the timing of light oil generation, its
expulsion and migration to conventional reservoirs for future
production."
Community
With the first successful community water well now in operation,
ReconAfrica is engaged with the appropriate authorities in drilling
three additional community water wells. We are currently in the
process of identifying optimum well locations for community members
who are the most in need of access to safe drinking water. To this
regard, please see "The Voices Of Kavango".
We continue with ongoing engagement and meetings with our
stakeholders as well as hiring local and national experts,
procuring products and services in the region and throughout
Namibia. ReconAfrica is committed
to a responsible approach to our business and we demonstrate this
by our actions.
ReconAfrica is a junior, 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 licenses 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 Company's
proposed exploration and drilling activities and timelines and the
anticipated results of the Company's proposed exploration and
drilling activities, the Company's
implementation of environmental and social best practices and
the Company's engagement with local authorities and
communities 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 annual information form dated
July 27, 2020 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.