Namibia is not known as an oil nation, in fact, it’s never produced a barrel of oil in its history, but we think that could all be about to change with a potential 120-billion-barrel oil play
ReconAfrica has set intermediate casing and reports results in the first section of the second well (6-1) confirm a working petroleum system in the Kavango Sedimentary Basin in the Kalahari Desert of North East Namibia.
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VANCOUVER, BC, June 3, 2021 /CNW/ - Reconnaissance Energy Africa Ltd. (the Company or ReconAfrica ) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) announces the Company has set intermediate casing and is pleased to report geologic results in the first section of this second well (6-1), which again confirms a working petroleum system in the Kavango Sedimentary Basin. As well, the Company is strengthening its Environment, Social & Governance ( ESG ) standard and committing a minimum of Canadian $10mm (Namibian $112mm) of ESG expenditures to the Kavango region in which it operates.
Drilling Operations
In keeping with its commitment to the Namibian government, on May 5, 2021 the Company commenced drilling operations of its second well (6-1), of an initial three well program to continue the evaluation of working conventional hydrocarbon systems confirmed in the first well (6-2) in the Kavango Sedimentary Basin.