ReconAfrica Discovers New Sedimentary Basin in the Kavango Basin
ReconAfrica is a junior oil and gas company engaged in the exploration and development of oil and gas in NE Namibia and NW Botswana—the Kavango Basin.
ReconAfrica holds a 90% interest in a petroleum exploration license in NE Namibia which covers the entire Kavango sedimentary basin in Namibia. The exploration licence covers an area of 25,341.33 km2 (6.3 million acres), and based on commercial success, it entitles ReconAfrica to obtain a 25-year production license.
ReconAfrica holds a 100% interest in petroleum exploration rights in NW Botswana over the entire Kavango sedimentary basin in Botswana. This covers an area of 8,990 km2 (2.2 million acres) and entitles ReconAfrica to a 25-year production license over any commercial discovery.
ReconAfrica acquired a high-resolution geomagnetic survey of the license area and conducted a detailed analysis of the resulting data and other available data, including reprocessing and reinterpretation of all existing geological and geophysical data. The survey and analysis confirm that the Kavango Basin reaches depths of up to 9,000 m (30,000 feet) under optimal conditions to preserve a thick interval of organic rich marine source rock, and is anticipated to hold an active petroleum system.