VANCOUVER, BC, May 5, 2021 /CNW/ - Reconnaissance Energy
Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX:
RECAF) (Frankfurt: 0XD) is pleased
to announce spudding the second well (6-1) in the Kavango Basin in
the Kalahari Desert of North East Namibia.
Operations
With the first string of casing set and cemented in the 6-1
well, the Company owned and operated 1000 HP rig (Jarvie-1) is drilling ahead to a target depth
of 3,800 meters (12,500 feet). The 6-1 well is designed to evaluate
the petroleum systems discovered in the first well (6-2) in an area
of maximum thickness. These first two wells are within one of five
major sub-basins of the larger, more laterally extensive, Permian
aged deep Kavango basin.
The Company will take whole core, side-wall core and conduct a
full logging suite of all zones of interest (conventional targets
and source rocks). As with the 6-2, a comprehensive state of the
art logging program over both sections will be provided by
Schlumberger. In addition, a Vertical Seismic Profile (VSP) will be
run to enable the most accurate tie-in possible, of well data, to
the 2D seismic program scheduled to commence in June, 2021.
Technology
In keeping with the Company's policy of
implementing environmental best practices, ReconAfrica is using the
most advanced drilling fluid available to protect the environment –
a water-based system. This Polyamine system, provided by Valence
Drilling Fluids, uses freshwater as the base fluid. The plant-based
products added to the base fluid are created through an organic
process and are biodegradable. Not only is this water-based
drilling fluid 100 percent safe to the environment, it provides
ideal samples (cuttings and core) to be utilized to determine a
range of petroleum properties and locations for future exploration
and production wells.
Community and Government Relations
The Minister of Agriculture, Water and Land Reform has assigned
a high-level team within his ministry, to which ReconAfrica will
keep updated on the project. The committee represents the water
resource management, water supply and sanitation, communal land
management and agricultural projects departments, within the
ministry. ReconAfrica is committed to the adherence of the laws,
rules and regulations of Namibia.
ReconAfrica places strong emphasis on hiring locally and
nationally whenever possible. To date, ReconAfrica has
employed more than 200 Namibian residents in such roles as:
electricians; rig floor-hands; project managers; material technical
specialists (construction, environment, wildlife surveying, water
and hydrology); health, safety and environmental experts;
administrative assistants; garden site workers; and general
laborers. The local and national employment numbers will increase
as the Company moves forward with its conventional drilling and
seismic programs. Additionally, ReconAfrica is working with
Namibian educational institutions to enhance training programs
directly related to energy.
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 logging program,
the 2D seismic program scheduled to commence in June 2021, the increase in local and
national employment numbers as the Company moves forward with
conventional drilling and seismic programs and working with
Namibian educational institutions to enhance training programs
directly related to energy. 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.