The Conversation (0)
Depth extended beyond original TD due to indications of hydrocarbons while drilling
Extensive wireline logging planned
Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO,OTC:RECAF) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) is pleased to provide a drilling update on the Kavango West 1X exploration well.
Brian Reinsborough, President & CEO, commented "I want to thank everyone who is working on the Kavango West 1X exploration well. The well has been drilling safely and efficiently. The Company is encouraged with the drilling results to date, which show the presence of hydrocarbons through numerous oil and gas shows, as well as strong and consistent natural gas markers on mud logs throughout the Otavi reservoir package. We plan to conduct an extensive wireline test program to verify the hydrocarbon shows, including fluid sampling and pressure measurements upon reaching TD. Due to the scale of what we are testing at the Kavango West prospect and the broader Damara Fold Belt play, we plan to disclose the results when the well has been thoroughly evaluated. We remain on track to provide results prior to year-end."
Namibia - Kavango West 1X
Operationally, the well has been drilled safely and efficiently to a current depth of 4,158 metres, which is deeper than the originally planned total depth ("TD") of 3,800. The well was spud on July 31 and drilling operations advanced efficiently and safely, reaching the original targeted total depth of 3,800 metres ahead of our planned drilling program. The well reached its current depth of 4,158 metres on Friday, November 7. The Company applied for and received approval to drill to approximately 4,200 metres based on the encouraging presence of hydrocarbons.
Drilling has been delayed at the current depth due to a drive shaft failure. All equipment to conduct the repair has been sourced and is being shipped to the drilling site. The repair work is expected to be completed next week. The Company plans to drill ahead before conducting extensive wireline logging, including core and fluid samples. Results from the wireline logging tests are expected to be released prior to year-end. The well has encountered multiple oil shows, as well as strong and consistent natural gas markers on mud logs throughout the Otavi reservoir package. All hydrocarbons shows will need to be verified by wireline logging and fluid sampling. Due to the nature of the hydrocarbon's indications, the Company plans to conduct wireline tests and fluid sampling within the Otavi formation.
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the Company holds petroleum licences and access to ~13 million contiguous acres. The Company also operates the Ngulu block in the shallow waters offshore Gabon. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in its project areas.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Brian Reinsborough, President and Chief Executive Officer
Mark Friesen, Vice President, Investor Relations & Capital Markets
IR Inquiries Email: investors@reconafrica.com
Media Inquiries Email: media@reconafrica.com
Tel: +1-877-631-1160
Cautionary Note Regarding Forward-Looking Statements:
Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to progress of the KW1X well, total depth reached, timing to reach total depth, well results including any shows and/or indications of hydrocarbons, timing of well results, the overall success of the well, results from wireline testing, whether any additional testing is required, the timing and extent of such testing, if any, and the Company's commitment to minimal disturbance of habitat, in line with best international standards and its implementation of environmental and social best practices in its project areas. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on ReconAfrica's current belief or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the "Risk Factors" section in the Company's annual information form ("AIF") dated April 29, 2025, for the financial period ended December 31, 2024, available under the Company's profile at www.sedarplus.ca. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
