A recent round of funding which raised $18 million positioned ReconAfrica to proceed with drilling and seismic programs for the Kavango basin in Namibia, said CEO Scot Evans.
The company will initiate and complete a three-well drilling program with the initial goal of establishing an active Permian aged petroleum system.
Well designs are complete, and the drilling service program was tendered in full. All bids have been received and are under evaluation with contract awards to have been awarded last month. The spud of the first well (6-2) is scheduled for early December. The company is also making upgrades such as installing a 250-ton topdrive, a third mud pump, and key upgrades to safety-related systems.
The funding will also allow the acceleration of the 2D seismic acquisition, processing, and interpretation program. The initial 2D program will cover 400 km with a targeted start in late Q4 2020.