Kavango Basin oil exploration is lighting up again with a series of big announcements on Friday by the junior explorer behind what we consider is the most exciting onshore play in a decade.
After stunning markets with two consecutive confirmations of an active petroleum system in Namibia’s giant Kavango Basin, Reconnaissance Energy Africa (TSX.V: RECO, OTCMKTS:RECAF) has now initiated an ambitious 450-kilometer 2D seismic acquisition, expects to release more comprehensive results from their first well and launched an impressive community water well drilling program for Namibia.
In a July 30th press release, Recon Africa and its Namibian state-run partner NAMCOR, launched the first-ever 2D seismic program in the 6.3-million-acre Kavango Basin, following successes with the drilling of two stratigraphic wells—both of which confirmed an active conventional petroleum system.
The Company reports that a 450-kilometer seismic program is designed to delineate potential traps and hydrocarbon reservoirs. Importantly, 95% of the seismic program will be conducted on existing roads over 10 seismic lines. For the past week, Recon Africa—working with Canada’s most established seismic provider Polaris Geophysical – has been testing the first line before moving into full acquisition mode.
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Source: Oil Price
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