Massive Oil Exploration Campaign Kicks Off in Southwest Africa—And It’s HUGE

The oil world is buzzing with excitement as ReconAfrica drills into the heart of northeast Namibia! On July 7, 2024, they began drilling the Naingopo well on PEL 73, a high-stakes venture that’s about to shake up the industry.

This well isn’t just any well—it’s the first of many in a thrilling exploration campaign. ReconAfrica is diving deep into the Damara Fold Belt, a geologic wonderland with massive, untapped oil and gas potential. They’re aiming for a depth of around 3,800 meters with their own rig, Jarvie 1, hoping to hit it big with both oil and natural gas. The stakes? A whopping 163 million barrels of oil or 843 billion cubic feet of gas!

While this is ReconAfrica’s debut in this new campaign, they’ve been busy with “strat test” wells in the Kavango Basin, finding oil and gas shows in their earlier digs. But this is the game-changer, drawing eyes from all over the industry.

Why the fuss? If ReconAfrica strikes gold—literally—it could ignite a new oil rush in the region. Nearby, Invictus is making waves with their Mukuyu well in Zimbabwe, and activity is heating up in Botswana and South Africa. The potential for a blockbuster discovery at PEL 73 could send shockwaves across the region, with interest already piqued in PEL 101 to the south and other areas.

 

To top it off, Monitor Exploration and 88 Energy are gearing up for a seismic survey in the neighboring PEL 93. Meanwhile, ReconAfrica might soon announce a new Joint Venture partner. Stay tuned—results are set to roll in by October 2024, and the excitement is just beginning!