ReconAfrica, Namcor release results from Kavango Basin
Reconnaissance Energy Africa Ltd. and its joint venture partner Namcor yesterday provided initial results from its seismic acquisition programme conducted in the Kavango Basin in northeast Namibia.
The 450km 2D seismic programme was the first seismic acquisition project to ever be conducted in the Kavango Basin. With the success of the first two drilled stratigraphic wells confirming an active conventional petroleum system within the basin, this seismic programme was designed to delineate potential traps and hydrocarbon reservoirs.
ReconAfrica yesterday released a statement saying the initial processing results of the seismic acquisition has produced high quality data revealing a variety of structural and stratigraphic features providing for a target rich environment for the upcoming drilling programne scheduled for early in the first quarter of 2022.
Immanuel Mulunga, managing director of Namcor commented: “Namcor is excited by the preliminary results of the recently concluded 2D seismic survey in our licence area. While we look forward to the processing and interpretation of the entire 2D survey, these initial findings give us extra confidence to choose the optimal drilling locations for the upcoming drilling campaign.”
Geologist Dr Jim Granath said: “These initial results of the first 2D seismic programme prove that our acquisition and processing programme provides good quality interpretable data, and that seismic will be a cornerstone of our current and future exploration programme. This initial seismic data proves the company’s basic premise, that the Kavango Basin is clearly a rift basin (geologically different from the Owambo Basin), with similar features to many of the world’s petroleum producing provinces.”
ReconAfrica is facing a class action lawsuit by US investors accusing the company of stock pumping. Pump-and-dump is a manipulative scheme that attempts to boost the price of a stock or security through fake recommendations. These recommendations are based on false, misleading, or greatly exaggerated statements.
ReconAfrica has said it will undertake “vigorous action to defend itself against any such claims”.
The 450km 2D seismic programme was the first seismic acquisition project to ever be conducted in the Kavango Basin. With the success of the first two drilled stratigraphic wells confirming an active conventional petroleum system within the basin, this seismic programme was designed to delineate potential traps and hydrocarbon reservoirs.
ReconAfrica yesterday released a statement saying the initial processing results of the seismic acquisition has produced high quality data revealing a variety of structural and stratigraphic features providing for a target rich environment for the upcoming drilling programne scheduled for early in the first quarter of 2022.
Immanuel Mulunga, managing director of Namcor commented: “Namcor is excited by the preliminary results of the recently concluded 2D seismic survey in our licence area. While we look forward to the processing and interpretation of the entire 2D survey, these initial findings give us extra confidence to choose the optimal drilling locations for the upcoming drilling campaign.”
Geologist Dr Jim Granath said: “These initial results of the first 2D seismic programme prove that our acquisition and processing programme provides good quality interpretable data, and that seismic will be a cornerstone of our current and future exploration programme. This initial seismic data proves the company’s basic premise, that the Kavango Basin is clearly a rift basin (geologically different from the Owambo Basin), with similar features to many of the world’s petroleum producing provinces.”
ReconAfrica is facing a class action lawsuit by US investors accusing the company of stock pumping. Pump-and-dump is a manipulative scheme that attempts to boost the price of a stock or security through fake recommendations. These recommendations are based on false, misleading, or greatly exaggerated statements.
ReconAfrica has said it will undertake “vigorous action to defend itself against any such claims”.
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