Canadian junior ReconAfrica is about to drill its first seismically defined hydrocarbon well in the Permian aged Kavango Basin onshore Namibia.
The 8-2 well is the first of an initial four well drilling programme, which will test two of the Basin’s three play types; oil prone Karoo Rift Fill and Intra Rift Fault Block plays, determined by interpretation of parts of the 1,211 kilometres of two dimensional (2D) seismic data acquired within the company’s over 34,000 square kilometre licensed area.
Jarvie-1, the company owned 1000 HP drilling rig “is now on the first drilling location (8-2) rigging up and scheduled to spud on or before June 25, 2022”, ReconAfrica says in a release.
ReconAfrica has just completed the second phase of its 2D seismic acquisition (761 km) with plans for the next phase of 2D seismic acquisition, which is anticipated to comprise in excess of 1,000 kilometres of 2-D seismic, making 2,211 kilometres of 2D seismic altogether. This (second phase) will be an extensive programme and subject to permitting, the Company anticipates on the ground acquisition to begin the fall of 2022.
8-2 will be drilled to a planned depth of approximately 2,800 metres (9,184 feet) and is designed to test potential conventional oil and associated natural gas reservoirs in clastic rocks (sandstones) in the Karoo Rift Fill, the Company’s primary play. The well will also be drilled deeper into the Pre-Karoo Mulden and Otavi formations. These intervals correspond to zones in the Company’s first well, the 6-2, (a non-seismically defined stratigraphic test) which is approximately 6.5 kilometres to the East, that had good oil and gas shows. It is anticipated the well will reach total depth within 60 days from the initial spud. Netherland, Sewell & Associates, Inc. (“NSAI”), the Company’s independent qualified reserves evaluator, has estimated an unrisked gross 799Million barrels of original oil in place (OOIP) for the well 8-2. The estimated unrisked gross prospective resource, (P50 case) with a projected 17% primary recovery, is 138Million barrels of oil for this well. Prospective resources are the arithmetic sum of multiple probability distributions.
“These estimates are based on un-risked prospective resources that have not been risked for chance of discovery and chance of development. If a discovery is made, there is no certainty that it will be developed or, if it is developed, there is no certainty as to the timing of such development”, ReconAfrica cautions. “There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. Prospective Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by applying future development projects”.