ReconAfrica has accelerated the drilling timeline for Prospect I in Namibia to Q2 2025, having completed initial surveying and ongoing preparatory activities. The site, noted as one of the largest structures in the region, holds significant estimated light to medium oil and natural gas resources, though actual discovery and production viability remain uncertain.
Reconnaissance Energy Africa Ltd. (ReconAfrica) is advancing its drilling plan for the Prospect I exploration well in Namibia. Initial surveying activities have been completed, while debushing is ongoing. The company has shared that demining operations will commence in the upcoming weeks, prompting the acceleration of the spud date to the second quarter of 2025.
Brian Reinsborough, President and CEO of ReconAfrica, emphasized the progress stating, “We have made great progress in getting Prospect I ready to drill and, as a result, we are accelerating the spud date into Q2 2025.” The company’s teams have initiated community engagement along with other preparatory activities, including road construction for access to the drill pad site.
The Prospect I site is recognized as one of the largest mapped structures within the Damara Fold Belt, exhibiting favorable geological features that suggest potential hydrocarbon presence. The success of ReconAfrica’s preceding well, Naingopo, has de-risked the drilling process, providing confidence as they aim to tap into the significant hydrocarbon potential in the area.
Prospect I is estimated to hold up to 365 million barrels of unrisked and 32 million barrels of risked light to medium oil resources, as well as approximately 1.7 trillion cubic feet of unrisked and 126 billion cubic feet of risked prospective natural gas resources. These estimates are based on an independent report by Netherland, Sewell, & Associates, Inc.
It is important to note that there is no assurance that the estimated resources will be discovered or that any finds will be commercially viable for production. Estimates are based on the probability of the resources being recoverable in future development projects and have associated risks.
In summary, ReconAfrica is moving forward with its drilling plan for Prospect I in Namibia, with an accelerated timeline set for Q2 2025. The company is optimistic about the hydrocarbon potential in the Damara Fold Belt, further supported by previous drilling successes. However, the actual discovery and commercial viability of the estimated resources remain uncertain, highlighting the exploratory nature of such initiatives.
Original Source: www.worldoil.com
