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Reconnaissance Energy Africa Ltd
Symbol RECO
Shares Issued 109,698,157
Close 2021-01-08 C$ 2.31
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Reconnaissance begins drilling first Kavango basin well

2021-01-11 01:20 ET - News Release

Mr. Scot Evans reports

DRILLING PROGRAM NOW IN PROGRESS; OPENING UP THE DEEP KAVANGO PERMIAN BASIN, KALAHARI DESERT

Reconnaissance Energy Africa Ltd. 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 northeast Namibia.

Drilling operations

With its company-owned-and-operated, 1,000-horsepower rig (Jarvie-1), the company is now drilling ahead to a planned 12,500-foot total depth (TD) to evaluate potential hydrocarbon systems in one of five major subbasins 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, Reconnaissance is working with Valence Drilling Fluids, a North American company that provides all organic and 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, vice-president, 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, senior vice-president 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, Reconnaissance'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, Reconnaissance is engaged with the appropriate authorities in drilling three additional community water wells. The company is currently in the process of identifying optimum well locations for community members who are the most in need of access to safe drinking water.

Reconnaissance continues with meetings with its stakeholders, as well as hiring local and national experts and procuring products and services in the region and throughout Namibia. Reconnaissance is committed to a responsible approach to its business, and it demonstrates this by its actions.

Reconnaissance 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 licences comprising approximately 8.5 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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