ReconAfrica and NAMCOR provide preliminary results of the first seismic program in the Kavango basin, northeastern Namibia
VANCOUVER, BC, November 5, 2021 / CNW / – Recognition Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSX-V: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) and its joint venture partner NAMCOR (the national oil company of Namibia) provide the first results of the first seismic acquisition program ever carried out in the Kavango basin, in the northeast Namibia.
As reported on 21 October 2021, 450 line kilometers of seismic data were successfully acquired on budget and on schedule. Processing by third parties of this data by DownUnder GeoSolutions (America) LLC in Houston, texas, and Absolute Imaging Inc. in Calgary, Canada, began as each seismic line was acquired, providing a very fast and interactive approach to processing.
Importantly, the results of the initial seismic acquisition processing produced high-quality data revealing a variety of structural and stratigraphic features providing a target-rich environment for the next drill program scheduled for the start of the first quarter. 2022.
An example of the first results of processing a seismic line is provided below. This line is shown twice, the first version an initial interpretation and the second, a clean version, illustrates:
The overall good quality of the initial data processed.
Large extension grabs with normal fault systems connected by steep shear zones linked to keys.
Well-developed expansion of the stratigraphic section in the grabens.
Good fault resolution, a few major faults extending over several thousand meters near the surface and potential for several styles of trapping.
Consistency with the origin of the Kavango basin rift.
Example Line 1; North-south line, central Kavango basin. Line length 66 km.
Additional two seismic lines can be found via the following link HERE.
These results also highlight a clear distinction between the Kavango basin, and the Owambo basin to the west, which is located in a much simpler tectonic framework.
The Company will continue to process the data to maximize image quality and has begun data interpretation, integrating available stratigraphic well data, with the intention of identifying new well locations by the end. of the year.
Immanuel Mulunga, Managing Director of NAMCOR commented: “NAMCOR is excited by the preliminary results of the 2D seismic study recently concluded in our license area. As we look forward to the processing and interpretation of the entire 2D study, these early results give confidence to select the optimal drill locations for the upcoming drilling campaign. “
Dr. Jim granath said: “These first results from the first 2D seismic program prove that our acquisition and processing program provides good quality interpretable data, and that seismic will be the cornerstone of our current and future exploration program. These initial seismic data prove the Company’s basic premise, that the Kavango Basin is clearly a crevasse Bowl (geologically different from the Owambo Basin), with characteristics similar to many oil-producing provinces around the world. “
ReconAfrica is a Canadian oil and gas company engaged in the opening of the recently discovered Kavango Deep Sedimentary Basin in the Kalahari Desert to the northeast Namibia and north-west Botswana, where the Company holds petroleum licenses covering approximately 8.5 million contiguous acres. In all aspects of its operations, ReconAfrica is committed to minimizing habitat disturbance, in accordance with best international standards, and will implement best environmental and social practices in all of its project areas.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements:
Certain statements contained in this press release constitute forward-looking information under applicable Canadian law, United States and other applicable securities laws, rules and regulations, including, without limitation, statements regarding the initial results of the seismic acquisition program, including the results proving that the Kavango Basin is a of the rift, the interpretation and analysis of the initial results of the seismic acquisition program, the planned schedule for the processing of all seismic data and the complete interpretation, the intention of the Company to identify new locations of wells by the end of the year and to begin a target-rich drilling campaign at the start of the first quarter of 2022, with the Company’s acquisition and processing program continuing to provide good quality interpretable data, this program being the cornerstone of the Company’s current and future exploration programs and the Company’s commitment to minimize disruption in accordance with best international standards and its mi is implementing best environmental and social practices in all of its project areas. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “planned”, “estimated” and similar expressions and statements relating to matters which are not historical facts are intended to identify forward-looking information and are based on ReconAfrica’s current belief or assumption as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as actual results and future events of the Company could differ materially from those anticipated in these forward-looking statements due to the factors described in the “Risk Factors” section in the Amended Annual Information Form. and update of the company dated May 19, 2021, available under the Company profile at www.sedar.com. Actual future results may differ materially. Various assumptions or factors are generally applied in drawing conclusions or making the forecasts or projections set forth in forward-looking information. These assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this press release is made as of the date hereof and ReconAfrica assumes no obligation to update or revise the forward-looking information, whether as a result of new information, future events or otherwise, except if required by applicable securities. laws. Due to the risks, uncertainties and assumptions contained in this document, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained in this document.
SOURCE Recognition Energy Africa Ltd.
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