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ReconAfrica advances Kavango West 1X well toward Otavi reservoir, results expected by year-end | Proactive Investors | YouTubeToText
YouTube Transcript: ReconAfrica advances Kavango West 1X well toward Otavi reservoir, results expected by year-end
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There’s a lot of eyes on this well, we're super excited,
the industry is very excited about this as well.
So it's, when you drill these play opening wells, it it gets a lot of attention.
So, all eyes are on Recon right now.
All right, welcome back inside our proactive newsroom.
And joining me now is Brian Reinsborough.
He is the CEO of Reconnaissance Energy Africa Ltd, Recon Africa of course.
Brian, great to see you again, how are you?
I'm doing wonderful. Thanks for having me back on.
Yeah.
Well, you've had some significant news out yesterday
giving everyone a bit of an update on on
where you're at as far as drilling is concerned on Kavango West.
Let's update everyone you're happy with where you're sitting right now?
We certainly are.
So the Kavango West Well, we spud the well very late July and the,
the rig and the team in country are doing an excellent job at drilling as well.
We're down around 1900 meters right now, drilling very well, very safely.
And we expect to hit the next casing string,
within the next couple of weeks, around 2400m.
And that's the last casing string that will have before
we drill into the main objective, which is the Otavi reservoir.
So, super excited about how the team is performing.
And we're anxious to get down in that reservoir.
Yeah, maybe you can talk to everyone a bit about
about why this particular area and why this is significant.
And you decided to drill it?
Yeah. No. Absolutely. Great question.
You know, the Damara Fold Belt is a new play, in Namibia.
We drill our first, well, late last year called Naingopo.
Got some really encouraging news on that.
And that led us to drill the Kavango West Well.
This is a fold belt, and these fold belts are large in extent.
And this prospect in particular, has a lot of size to it.
It's going to tell us a lot about potential in this region.
You know, our estimates, through our third party auditors are around
340 million barrels of oil, un-risked around
30 million risked.
So, this is a game changer.
If it if it works and we think this is a great prospect,
it has all the elements we like to see in the petroleum system.
So we think we have a great shot on goal.
And it's going to,
if successful really transforms the company and the region of Namibia.
You mentioned, Brian, you're about 1900 meters right now
and waiting for the next pivotal one, which is about 2400m.
Are you gaining data as you continue to to drill down
or the things that you're looking for specifically?
Yeah.
We do gain some data when we're drilling.
And of course we we get cuttings and, observe the rocks as we're drilling.
And then in each casing spring, we stop and we log,
so we'll see what we, we have, but we're not really in the main objective.
We don't expect anything when we're drilling right now.
We really think all excitements are down in the Otavi reservoir, below 2400m.
Now, keep in mind, once you start drilling Otavi.
we're going to drill around 1500 to 1800 meters of that reservoir section.
So incredibly thick section, all within forward dip closure.
So a very perspective section to go through in October.
Yeah. And lastly, Brian,
you're going to sort of providing updates as you go along until,
till you sort of at the end of this, is that is that the idea, the plan?
Yeah.
So, operational updates, we really don't like to disclose it's
not industry protocol to disclose, information as you fly, as you drill,
just because we want to get the total depth,
we want to analyze everything, have a high level certainty
of what we see, and then disclose everything.
So we have a full picture of what we have.
Yeah, I'm sure you get asked about it every day.
So I thought I would as.
Well I do, I do there's a lot of eyes on this.
Well, we're super excited.
The industry is, very excited about this as well.
So it's, when you drill these play opening wells, it it gets a lot of attention.
So, all eyes are on recon right now.
Absolutely. All's well with the well so far.
There you have it, Brian. Thanks so much. See you again, my friend.
We'll talk soon.
Wonderful. Thank you so much for having me.
All right, there's Brian Reinsborough, he's the CEO of Recon Africa.
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