VANCOUVER, BC, Feb. 25, 2021 /CNW/ – Reconnaissance Power Africa Ltd. (the “Firm” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) is happy to each present an replace on drilling operations within the Kavango sedimentary basin within the Kalahari Desert of North East Namibia and announce that it has certified because the Canadian TSX Enterprise 50 Exchanges 2021 high performing vitality firm.
As introduced on January 11, 2021, the Firm commenced drilling operations on the primary effectively (6-2), of an preliminary three effectively program to guage potential hydrocarbon methods in one in all 5 main sub-basins of the bigger, extra laterally intensive, deep Kavango basin.
Having set and cemented 17 ½” floor casing mid-January, ReconAfrica has reached the intermediate casing level, set 12 ¼” casing and has accomplished the cementing operation. The cementing operation is a key component of all oil effectively drilling and has been accomplished in accordance with worldwide requirements and greatest practices.
Over the interval drilled to this point, ReconAfrica has been constantly sampling and testing cuttings, efficiently run a full suite of wireline logs, and brought thirty-four sidewall cores. ReconAfrica is utilizing trade leaders to supply evaluation of this crucial effectively, with Schlumberger offering wireline logging companies (as per 1/11/21 press launch), Netherland Sewell and Associates (Dallas, Texas) performing effectively log evaluation, and Geomark Analysis (Houston, Texas) evaluating petroleum geochemistry.
With the completion of the intermediate casing operation, the Firm will recommence drilling to the deliberate depth of 12,500′, with the target of reaching whole depth (TD) earlier than the top of March. The info assortment and evaluation described above will proceed to TD, with the addition of taking complete cores over key intervals.
In step with the Firm’s coverage of implementing environmental greatest practices, ReconAfrica’s drilling fluids are water based mostly, natural & biodegradable, that are absolutely environmentally protected, for a lot of elements, together with topsoil enhancement and growth.
“I’m very happy with the profitable drilling operations the ReconAfrica crew has accomplished thus far. We’re adhering to the best requirements of Well being, Security and Environmental greatest practices and are on program in all phases of operations,” acknowledged Nick Steinsberger, Senior Vice President of Drilling and Completions.
As a part of ReconAfrica’s ongoing Group Initiatives, we’re finalizing approvals for 3 extra group water wells particularly tying into Namibia’s nationwide rural water administration plan. These wells present entry to potable water, and extremely welcomed by regional leaders, conventional authorities, and group members.
TSX Enterprise 50
The Firm is happy to announce it has certified for the 2021 TSX Enterprise 50, a rating of the highest performers on the TSX Enterprise Trade over the past 12 months.
Additional, ReconAfrica was appointed the highest performing firm within the vitality sector.
The 2021 TSX Enterprise 50 is an annual program showcasing the highest 10 performers from 5 trade sectors: Clear Know-how and Life Sciences, Diversified Industries, Power, Mining, and Know-how. Prime performing corporations have been chosen based mostly on year-over-year efficiency throughout 3 equally weighted standards: market capitalization development, share value appreciation and buying and selling quantity for the 12 months ended December 31, 2020. For the complete checklist go to: 2021 TSX Venture 50
“Contemplating the numerous challenges of 2020, it’s an honour to be chosen as one of many high 50 of over 1500 corporations listed on the TSX Enterprise Trade and particularly the excellence of the TSX Enterprise Trade high performing vitality firm. On behalf of ReconAfrica shareholders, I wish to thank our prolonged crew in Canada, USA and Namibia, as that is actually their award and we admire their previous effort and ongoing assist,” acknowledged Scot Evans, CEO.
A quick video on ReconAfrica, produced by the TMX Group, will be discovered at ReconAfrica TMX V50 Video
ReconAfrica is a junior, Canadian oil and gasoline firm engaged within the opening of the newly found deep Kavango Sedimentary Basin, within the Kalahari Desert of northeastern Namibia and northwestern Botswana, the place the Firm holds petroleum licenses comprising roughly 8.5 million contiguous acres. In all elements of its operations, ReconAfrica is dedicated to minimal disturbances according to worldwide greatest requirements and can implement environmental and social greatest practices in all of its mission areas.
Neither the TSXV nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSXV) accepts duty for the adequacy or accuracy of this launch.
Cautionary Observe Concerning Ahead-Trying Statements: Sure statements contained on this press launch represent forward-looking info beneath relevant Canadian, United States and different relevant securities legal guidelines, guidelines and rules, together with, with out limitation, statements with respect to the Firm’s proposed exploration and drilling actions and timelines and the anticipated outcomes of the Firm’s proposed exploration and drilling actions, the Firm’s implementation of environmental and social greatest practices and the Firm’s engagement with native authorities and communities These statements relate to future occasions or future efficiency. The usage of any of the phrases “might”, “intend”, “anticipate”, “consider”, “will”, “projected”, “estimated” and related expressions and statements regarding issues that aren’t historic info are meant to establish forward-looking info and are based mostly on ReconAfrica’s present perception or assumptions as to the end result and timing of such future occasions. There will be no assurance that such statements will show to be correct, because the Firm’s precise outcomes and future occasions might differ materially from these anticipated in these forward-looking statements because of the elements mentioned within the “Threat Components” part within the Firm’s annual info type dated July 27, 2020 accessible beneath the Firm’s profile at www.sedar.com. Precise future outcomes could differ materially. Varied assumptions or elements are sometimes utilized in drawing conclusions or making the forecasts or projections set out in forward-looking info. These assumptions and elements are based mostly on info presently accessible to ReconAfrica. The forward-looking info contained on this launch is made as of the date hereof and ReconAfrica undertakes no obligation to replace or revise any forward-looking info, whether or not because of new info, future occasions or in any other case, besides as required by relevant securities legal guidelines. Due to the dangers, uncertainties and assumptions contained herein, buyers shouldn’t place undue reliance on forward-looking info. The foregoing statements expressly qualify any forward-looking info contained herein.
SOURCE Reconnaissance Power Africa Ltd.
For additional info: Scot Evans CEO or Doug Allen, SVP Investor Relations, Tel: +1 (604) 423-5384, Electronic mail: [email protected]
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