ReconAfrica reports significant oil indications at Naingopo Well, plans further drilling in 2025

Proactive - Interviews for investors

Reconnaissance Energy Africa CEO Brian Reinsborough joined Steve Darling from Proactive to announce key exploration results from the Naingopo well in the Damara Fold Belt on Petroleum Exploration Licence 073, onshore Namibia. The well encountered over 50 metres of net reservoir within the Otavi Group, based on log analysis, with multiple indications of oil observed. These findings, which suggest a working petroleum system within the Damara Fold Belt, will be further confirmed through sidewall core analysis. Encouraged by these results, ReconAfrica plans to advance drilling at Prospect I in the Damara Fold Belt, ahead of the Kambundu well, which is scheduled to spud in July 2025. The company will continue analyzing fluid and rock samples over the coming months to further evaluate the discovery. Additionally, ReconAfrica is progressing permitting for a 3D seismic acquisition program, covering both the Rift Basin and the Damara Fold Belt. The seismic survey, expected to begin in H2 2025, will be conducted using vibroseis technology to refine future drilling targets. These results mark a significant milestone in Namibia’s emerging oil exploration sector, reinforcing ReconAfrica’s strategy to unlock the hydrocarbon potential of the Damara Fold Belt. The company has also announced it has completed the farm down agreement with BW Energy Limited. The sale of a 20% working interest in Petroleum Exploration Licence 73 has been approved by the Namibian Ministry of Mines and Energy and Namcor Exploration and Production Ltd. #proactiveinvestors #reconnaissanceenergyafricaltd #tsxv #reco #otcqx #recaf #NamibiaOil #EnergyInvesting #OilDiscovery #EnergySector #BWEnergy #DrillingUpdate #ProactiveInvestors #CEOInterview