U.S. Markets closed
  • S&P 500

    -11.63 (-0.30%)
  • Dow 30

    -62.42 (-0.20%)
  • Nasdaq

    -83.07 (-0.72%)
  • Russell 2000

    +6.01 (+0.34%)
  • Crude Oil

    +0.24 (+0.22%)
  • Gold

    -0.80 (-0.04%)
  • Silver

    -0.00 (-0.01%)

    +0.0030 (+0.2859%)
  • 10-Yr Bond

    +0.0690 (+2.21%)
  • Vix

    -0.28 (-1.03%)

    -0.0003 (-0.0245%)

    +0.2180 (+0.1613%)

    -542.84 (-2.54%)
  • CMC Crypto 200

    -6.00 (-1.30%)
  • FTSE 100

    +49.51 (+0.69%)
  • Nikkei 225

    +379.30 (+1.43%)

ReconAfrica and NAMCOR Provide Preliminary Results From the First Seismic Program in the Kavango Basin, N.E. Namibia

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

VANCOUVER, BC, Nov. 5, 2021 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSX-V: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) and its joint venture partner NAMCOR (the state oil company of Namibia) provide initial results from the first seismic acquisition program ever conducted in the Kavango Basin, in northeast Namibia.

As reported on October 21, 2021, 450 linear kilometers of seismic data were successfully acquired within budget and on schedule. Third party processing of this data by DownUnder GeoSolutions (America) LLC in Houston, Texas, and Absolute Imaging Inc. in Calgary, Canada, began as each seismic line was acquired, providing a very time efficient and uniquely interactive approach to the processing.

Importantly, the initial processing results of the seismic acquisition has produced high quality data revealing a variety of structural and stratigraphic features providing for a target rich environment for the upcoming drilling program scheduled for early Q1, 2022.

An example of the early processing results of a seismic line is provided below. This line is shown twice, the first version an initial interpretation and the second, a clean version, illustrates:

  1. The overall good quality of the initial processed data.

  2. Significant extensional grabens with normal fault systems connected by steep wrench-related shear zones.

  3. Well-developed expansion of stratigraphic section in the grabens.

  4. Good fault resolution, some major faults extending over several thousand meters to near surface, and potential for multiple styles of trapping.

  5. Consistency with the rift basin origin of the Kavango basin.

Example Line 1; North South line, Central Kavango Basin. Line length 66km.

Example Line 1 - North South Line, Central Kavango Basin - Interpreted (CNW Group/Reconnaissance Energy Africa Ltd.)
Example Line 1 - North South Line, Central Kavango Basin - Interpreted (CNW Group/Reconnaissance Energy Africa Ltd.)
Example 1 - North South Line, Central Kavango Basin - Clean (CNW Group/Reconnaissance Energy Africa Ltd.)
Example 1 - North South Line, Central Kavango Basin - Clean (CNW Group/Reconnaissance Energy Africa Ltd.)

Additional two seismic lines can be found via the following link HERE.

These results also highlight a clear distinction between the Kavango basin, and the Owambo basin to the west, which is in a much simpler tectonic setting.

The Company will continue processing the data to maximize image quality, and has begun the interpretation of the data, integrating available stratigraphic well data, with the intention of identifying new well locations by year end.

Immanuel Mulunga, Managing Director of NAMCOR commented, "NAMCOR is excited by the preliminary results of the recently concluded 2D seismic survey in our licence area. While we look forward to the processing and interpretation of the entire 2D survey, these initial findings give us extra confidence to choose the optimal drilling locations for the upcoming drilling campaign."

Dr. Jim Granath stated, "These initial results of the first 2D seismic program prove that our acquisition and processing program provides good quality interpretable data, and that seismic will be a cornerstone of our current and future exploration program. This initial seismic data proves the Company's basic premise, that the Kavango Basin is clearly a rift basin (geologically different from the Owambo Basin), with similar features to many of the world's petroleum producing provinces."

About ReconAfrica

ReconAfrica is a Canadian oil and gas company engaged in the opening of the newly discovered deep Kavango Sedimentary Basin, in the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum licenses comprising approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat, in line with best international standards, and will implement environmental and social best practices in all of 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.

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 the initial results from the seismic acquisition program, including such results proving that the Kavango Basin is a rift basin, the interpretation and analysis of the initial results from the seismic acquisition program, the expected timing for the processing of all seismic data and comprehensive interpretation, the intention of the Company to identify new well locations by year end and commence a target rich drilling campaign in early Q1, 2022, the Company's acquisition and processing program continuing to provide good quality interpretable data, with such program being a cornerstone of the Company's current and future exploration programs and the Company's commitment to minimal disturbances in line with international best standards and its implementation of environmental and social best practices in all of 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 amended and restated annual information form dated May 19, 2021, available under the Company's profile at www.sedar.com. 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.

.Reconnaissance Energy Africa Ltd. Logo (CNW Group/Reconnaissance Energy Africa Ltd.)
.Reconnaissance Energy Africa Ltd. Logo (CNW Group/Reconnaissance Energy Africa Ltd.)

SOURCE Reconnaissance Energy Africa Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2021/05/c4382.html