Petroleum Africa
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Wednesday, June 28, 2023
Reconnaissance Energy Africa (ReconAfrica) has announced an updated prospective resource estimate supported by a Prospective Resource Report (dated June 22, 2023 with an effective date of March 31, 2023) focused solely on the new Damara Fold Belt gas play located within the company’s Petroleum Exploration License (PEL 73) in the Kavango Basin, NE Namibia in which ReconAfrica holds a 90% working interest.
ReconAfrica engaged Netherland, Sewell & Associates, Inc. (NSAI), an independent qualified reserves evaluator to prepare the report.
The significant upgrade in Prospective Resources since the last report, the Prospective Resource Report (dated April 27, 2022 with an effective date of December 31, 2021), is based on and driven by the company’s strategy to fast-track acquisition and processing of an additional 1100 km + of 2D seismic over the Damara Fold Belt play, which was initially discovered in the first phase of 2D seismic acquisition in 2021.
Within the Fold Belt fairway on PEL 73, the Company has so far identified 9 large anticlinal prospects* and 12 anticlinal leads of which the 9 prospects are included in the Report. The resource estimates on the properties described in the Report represent an initial unrisked 22.4 trillion Cubic Feet (Tcf) of undiscovered gas initially-in-place for the Project – Damara Fold Belt Map.
The full release with additional date can be found on ReconAfrica here.
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