Reconnaissance Energy Africa has announced a drilling update on Prospect I, one of the company’s largest and most promising exploration targets within Petroleum Exploration Licence 073 (PEL 73) in northeastern Namibia. The update confirms that pre-construction and pre-drill evaluations are on schedule, with drilling expected to spud this quarter.
Prospect I is situated within the Damara Fold Belt, part of a frontier basin play with potentially significant untapped oil and gas resources. According to the latest report by independent evaluator Netherland, Sewell, & Associates, Inc. (NSAI), the target is estimated to contain 365 million barrels of unrisked and 32 million barrels of risked prospective oil, or up to 1.9 trillion cubic feet (Tcf) of natural gas unrisked and 140 billion cubic feet (Bcf) risked.
Highlights
- Target Area: Prospect I, within PEL 73 in Namibia’s Kavango Basin
- Resource Estimate: 365M barrels (unrisked) and 32M barrels (risked) oil; 1.9 Tcf gas (unrisked), 140 Bcf (risked)
- Drilling Depth: Planned to reach 3,800 metres, with flexibility for deeper drilling
- Pre-Drill Evaluation: Completed; informed by Naingopo well data
- Reservoir Focus: Otavi carbonate section, estimated at 1,500–1,800 metres thick
- Spud Timeline: Well on track to be spudded during Q2 2025
- Environmental Commitment: Company adheres to global ESG standards and minimal environmental impact
Building on Momentum from the Naingopo Well
ReconAfrica’s confidence in Prospect I has been significantly bolstered by findings from its Naingopo exploration well, drilled earlier in 2025. The well encountered over 50 metres of reservoir-quality carbonates and oil shows, confirming key elements of the company’s geologic model for the Damara Fold Belt.
“We’re excited to be making great progress ahead of drilling one of our largest and most attractive prospects,” said Brian Reinsborough, President and CEO of ReconAfrica. “Naingopo results have increased our confidence in unlocking the Damara Fold Belt’s full potential.”
Strategic Target: The Otavi Carbonate Section
The Prospect I well is designed to reach a depth of 3,800 metres, with the possibility of extending deeper depending on geological findings. ReconAfrica is primarily targeting the Otavi carbonate reservoir, which played a central role in discoveries at Naingopo.
Recent seismic interpretations and time-depth migration modeling have enhanced the company’s understanding of the Mulden and Otavi formations, key structural targets in the region.
A Frontier Oil Play in Namibia
ReconAfrica holds exploration rights over ~8 million contiguous acres across northeastern Namibia and northwestern Botswana. With its Petroleum Exploration Licence (PEL 73) in hand, the company is positioning itself as a first mover in Namibia’s emerging oil and gas sector.
Namibia is quickly gaining attention from global energy majors following recent offshore discoveries, and ReconAfrica’s onshore ambitions add another layer to the country’s growing exploration narrative.
Read about Namibia’s energy outlook
Environmental and Community Commitments
In line with its sustainability mission, ReconAfrica emphasizes minimal environmental disturbance and best-in-class social practices in all its operations. The company adheres to internationally recognized ESG frameworks, ensuring responsible exploration in ecologically sensitive areas like the Kavango region.
Disclosure and Risk Considerations
While the NSAI Report provides detailed prospective resource estimates, ReconAfrica cautions that there is no certainty that any portion of the resources will be discovered or be commercially viable. Prospective resources are by definition subject to a combination of geological, technical, and economic risks.
Investors can access the full NSAI report via SEDAR+ under ReconAfrica’s profile, filed July 29, 2024.
Looking Ahead
As drilling on Prospect I approaches, ReconAfrica stands at a potential inflection point. Success at this location could validate years of geological modeling and exploration across one of Africa’s most underexplored petroleum basins.
For further information and ongoing updates, visit ReconAfrica’s website.
