Reconnaissance Energy Africa Ltd. and its joint venture partner NAMCOR (the state oil company of Namibia) have announced successful completion of drilling operations of the second stratigraphic test well (6-1) in the Kavango basin of NE Namibia.
The 6-1 well is now being prepared for wireline logging. Multiple logging runs will be made and up to 50 sidewall cores taken, all designed to maximize hydrocarbon recovery.
After the logging and coring operations are completed, a vertical seismic profile tool (“VSP”) will be run to total depth to tie into the 2D seismic program that will begin this month across the Kavango basin. The first stratigraphic test well, the 6-2, will also have a VSP run and the two wells will be tied together along the same seismic line. Later in the month casing will be run and cemented to isolate the prospective hydrocarbon bearing zones.
Grant of Stock Options
On July 14, 2021, the Company granted to a director and consultants of the Company options to purchase an aggregate of 800,000 common shares of the Company at a price of C$11.39 per share for a period of five years.
