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Reconnaissance Energy Africa Ltd
Symbol RECO
Shares Issued 107,361,324
Close 2020-12-18 C$ 1.94
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Reconnaissance completes first Kavango well site

2020-12-21 02:53 ET - News Release

Mr. Scot Evans reports

OPERATIONS UPDATE - DRILLING RIG ON LOCATION, NAMIBIA

Reconnaissance Energy Africa Ltd. has provided an operations update as the company prepares to drill the deep Kavango basin in the Kalahari desert of northeast Namibia and northwest Botswana.

Operations:

  • The well site for the first well (6-2) in the Kavango basin and the associated camp were completed, on schedule, in mid-December.
  • Utilizing a smaller local rig, the initial leg of the wellbore has been drilled, with the first casing string set and cemented.
  • The company-owned Crown 1,000-horsepower drilling rig (Jarvie-1), along with ancillary equipment and spare parts, was shipped from the Port of Houston and arrived on schedule in the Port of Walvis Bay on Dec. 11, 2020. The majority of drilling equipment has now arrived on the 6-2 well site.

"Due to the additional logistical challenges presented by the coronavirus pandemic, the company's successful operations have required an especially strong and dedicated effort from the ReconAfrica team, hard work on behalf of our local employees and contractors, and significant support from the Namibian national and regional governments," stated chief executive officer Scot Evans.

Drilling of the 6-2 well is scheduled to take place the first part of January, 2021. This well is the first of a three-well drilling program intended to confirm an active, Permian-aged petroleum system in this deep basin. The wells are designed to drill through and collect important data on all Permian-aged rock formations. Core data and logging operations will be specifically focused on conventional oil and gas reservoirs, which flow naturally under their own pressure.

Community

Reconnaissance is working with the local communities and has recently drilled a new water well to improve the supply of fresh drinking water to the community in the Kavango region. It looks forward to a continued partnership with local authorities, taking further steps to address this important issue: access to safe drinking water for those most in need.

Reconnaissance is a junior oil and gas company engaged in the opening of the newly discovered deep Kavango sedimentary basin in northeastern Namibia and northwestern Botswana, where the company holds petroleum licences comprising approximately 8.75 million contiguous acres. In all aspects of its operations, Reconnaissance 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.

We seek Safe Harbor.

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