Operations Update - Drilling Rig on Location, Namibia
VANCOUVER, BC, Dec. 21, 2020 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) is pleased to provide an operations update as the Company prepares to drill the deep Kavango Basin in the Kalahari Desert of North East Namibia and North West Botswana.
Operations
- The well-site for the first well (6-2) in the Kavango basin and the associated camp were completed, on schedule, in mid-December.
- Utilizing a smaller local rig, the initial leg of the well-bore has been drilled, with the first casing string set and cemented.
- The Company owned Crown 1,000 HP drilling rig (Jarvie-1), along with ancillary equipment and spare parts, were successfully shipped from the Port of Houston and arrived on schedule, in the Port of Walvis Bay, December 11, 2020. The majority of drilling equipment has now arrived on the 6-2 well site.
"Due to the additional logistical challenges presented by the coronavirus pandemic, the Company's successful operations have required an especially strong and dedicated effort from the ReconAfrica team, hard work on behalf of our local employees and contractors, and significant support from the Namibian national and regional governments" stated CEO Scot Evans.
Drilling of the 6-2 well is scheduled to take place the first part of January, 2021. This well is the first of a three well drilling program intended to confirm an active, Permian aged, petroleum system in this deep basin. The wells are designed to drill through and collect important data on all Permian aged rock formations. Core data and logging operations will be specifically focused on conventional oil and gas reservoirs, which flow naturally under their own pressure.
Community
ReconAfrica is working with the local communities and has recently drilled a new water well to improve the supply of fresh drinking water to the community in the Kavango region. We look forward to a continued partnership with local authorities, taking further steps to address this important issue; access to safe drinking water for those most in need.
ReconAfrica is a junior oil and gas company engaged in the opening of the newly discovered deep Kavango Sedimentary Basin, in northeastern Namibia and northwestern Botswana where the Company holds petroleum licenses comprising approximately 8.75 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimal disturbances in line with international best 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 Company's proposed exploration and drilling activities and timelines and the anticipated results of the Company's proposed exploration and drilling activities and the Company's engagement with local authorities and communities 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 dated July 27, 2020 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.
SOURCE Reconnaissance Energy Africa Ltd.
Scot Evans CEO or Doug Allen, SVP Investor Relations, Tel: +1 (604) 423-5384, Email: [email protected]
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