Reconnaissance Energy Africa has reached total depth at the 8-2 well, in northeast Namibia’s Kavango Basin.
The company gave no sign of what the well may have found, but will carry out logging and coring.
The well was drilled to a depth of 2,056 metres. It reached all geographic targets and was on time and on budget. The Jarvie-1 rig will remain on site while a vertical seismic profile (VSP) tool is run to total depth, which will tie in to the 2D seismic programme.
ReconAfrica also said the processing of its second phase of 761 km of seismic was nearing completion. Early results are being fed back into its plans to refine locations for upcoming stratigraphic wells.
The rig will be on the next location by the end of September, it said.
The 8-2 well is the first of its new campaign. ReconAfrica has said this first well is targeting a potential resource of 799 million barrels.
According to information from the company from earlier in the year, the next three wells will target resources of 158mn barrels, 295mn barrels and 767mn barrels.
Trading on the TSXV saw little improvement in the company’s share price. On January 12 it traded at C$7.46 and, over the year, has broadly slid lower to a current price of C$3.3.
Water well work
ReconAfrica also updated some of its social programmes in communities in the Kavango East and West areas. It said it was drilling and installing community water wells. So far, it has drilled 24 water wells, of which 21 have water tanks and solar equipment.
The company said it had also helped the Ministry of Agriculture, Water & Land Reform (MAWLR) in installing eight solar-powered water wells.
The Ministry of Mines and Energy put out a statement on oil exploration in Namibia, and Namcor’s role, on August 29. It made no mention of ReconAfrica. Instead it focused on the offshore plans by Shell and TotalEnergies.