ReconAfrica Confirms Commercial Discovery in Namibia, Advances Regional Strategy

ReconAfrica has formally declared its Kavango West-1X well in Namibia a commercial discovery, initiating a comprehensive production testing program. This pivotal move transitions the project from pure exploration to the technical appraisal phase. Concurrently, the company is progressing its offshore assets in Gabun and Angola, funded by a recent capital raise.

Production Testing Underway with Revised, Upward Estimates

The company has commenced an extensive two-month production test at the Kavango West-1X well in the onshore Kavango Basin. This program, designed to determine the reservoir’s actual deliverability, involves testing six optimized zones within the Huttenberg and Elandshoek formations. A total of 345 meters of prospective intervals will be perforated.

New data has led to a significant upward revision of the resource potential. Detailed petrophysical analysis incorporating additional rock data now estimates the net hydrocarbon thickness in the Huttenberg formation at 75 meters, a substantial increase from the initially reported 64 meters.

All necessary regulatory approvals for this phase are secured. Specialized production tubing has already arrived on-site in northeastern Namibia, with industry leaders Halliburton and Schlumberger providing key services and North American-sourced equipment.

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Regional Expansion: Gabun and Angola Initiatives Progress

Alongside the Namibian operations, ReconAfrica is actively developing its offshore portfolio. On the 1,214 square kilometer Ngulu Block offshore Gabun, the company is currently reprocessing 3D seismic data. This work aims to refine the subsurface geology and define drilling targets on a block situated within a trend containing multiple producing oil fields, which includes the existing Loba discovery. An independent resource report for this area is targeted for completion by the end of 2026.

Funding for these endeavors is secured following a CAD $36.8 million capital raise completed in January. The proceeds are allocated not only to the Namibian tests but also to a geochemical sampling program in Angola, scheduled to commence this month.

Path Forward: From Testing to Final Investment Decision

The results from the ongoing production tests are expected to form the basis for a subsequent Final Investment Decision (FID) and the potential first-time booking of oil reserves, contingent on a successful outcome. In preparation for further validating the basin’s structure, ReconAfrica is already planning its next delineation well.