ReconAfrica's Operational Progress on Kavango West 1X
Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") has reported significant steps towards drilling the Kavango West 1X exploration well. The company has successfully been preparing its operations, which are crucial for the upcoming phases in this ambitious project.
Drilling Locations and Prospects
The drilling rig is now on-site with all necessary permits obtained to initiate drilling operations. The expectations are high as the well is scheduled to spud before the month ends. The planned total depth for the well is around 3,800 metres (approximately 12,500 feet), targeting a substantial Otavi carbonate reservoir section, key to the Damara Fold Belt play.
Exploration Objectives
This well marks the second exploratory attempt in the extensive Damara Fold Belt play. The structural fold identified through advanced 2D seismic data spans approximately 22 kilometers in length and 3 kilometers in width. The exploration team has mapped more than 19 additional prospects and leads within this area, supported by an extensive 5 million acres through a recent agreement.
Leadership Comments on Developments
Brian Reinsborough, the President and CEO of ReconAfrica, expressed his enthusiasm regarding the current drilling preparations. He acknowledged the diligent work of the team and reiterated the strategic importance of this well for shareholders and local communities. His statement underlines the company's commitment to engaging with local stakeholders and executing operations safely and responsibly.
Board Composition Changes
In recent news, Iman Hill has resigned from her position on the Board of Directors due to foreign work commitments. This change will leave the board with five members, of which three are independent directors. The company aims to maintain its current board composition going forward.
Community Engagement and Environmental Responsibility
Diana McQueen, the Board Chair, has emphasized the company’s gratitude towards Iman Hill for her contributions and reassured ongoing engagements with community stakeholders throughout the drilling phase. ReconAfrica is committed to minimizing environmental impact and ensuring operations adhere to local regulations and best practices.
About ReconAfrica
ReconAfrica is a Canadian oil and gas company focusing on the Damara Fold Belt and Kavango Rift Basin in northeastern regions, holding around 13 million acres in petroleum licenses. It pledges to adhere to stringent environmental and social standards in all its operations, striving for minimal disruption in the habitats they work within.
Frequently Asked Questions
What is ReconAfrica currently focusing on?
ReconAfrica is preparing to begin drilling the Kavango West 1X exploration well while ensuring effective stakeholder engagement and environmental responsibility.
What is the significance of the Kavango West well?
The Kavango West 1X well is crucial to exploring the potential of the Damara Fold Belt and aims to reach a depth of approximately 3,800 metres.
Who is leading the company's drilling operations?
Brian Reinsborough serves as the President and CEO of ReconAfrica and is leading the efforts for this exploration phase, showcasing commitment to safe operational practices.
How has the Board of Directors changed recently?
Iman Hill has resigned from the Board, leaving five members, including three independent directors, to oversee the company's strategic direction.
What is ReconAfrica's commitment to environmental standards?
ReconAfrica is dedicated to maintaining environmental and social best practices in its operations, ensuring minimal disturbance to the habitat.
