ReconAfrica Advances Namibian Exploration with Naingopo Well and BW Energy Partnership

Proactive - Interviews for investors

Reconnaissance Energy Africa CEO Brian Reinsborough joined Steve Darling from Proactive to share key updates on the company’s exploration activities in Namibia. ReconAfrica is currently drilling the Naingopo exploration well at a depth of approximately 4,000 meters. Upon completion, the company will execute a comprehensive logging and coring program, along with a vertical seismic profile, to assess potential oil or natural gas discoveries. Results will be analyzed and shared once the extensive logging and sample testing are complete. Preparations for the Kambundu exploration well are also advancing, with road and well site construction nearly finalized. Drilling on the Kambundu site will commence after analyzing the Naingopo well results. Additionally, ReconAfrica is planning Namibia's first-ever onshore 3D seismic program, aiming to unlock further exploration opportunities in the region. Significant cost-efficiency measures have also been implemented, reducing general and administrative expenses by $1 million compared to the same period last year. The company further strengthened its financial position through a partnership with BW Energy Limited, which acquired a 20% working interest in Petroleum Exploration Licence 073. This agreement includes a $22 million equity investment to fund a multi-well exploration program. ReconAfrica’s strategic initiatives reinforce its commitment to efficient operations and expanded exploration in Namibia. #proactiveinvestors #reconnaissanceenergyafricaltd #tsxv #reco #otcqx #recaf #OilAndGasExploration #EnergyInvestments #BrianReinsborough #NamibiaDrilling #3DSeismicSurvey #OilIndustryUpdates #CorporateEfficiency #EnergyDevelopment #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews