Reconnaissance Energy Africa (TSE:RECO) has released an update.
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Reconnaissance Energy Africa Ltd. is gearing up for the drilling of the Naingopo well in the Damara Fold Belt, Northeast Namibia, with expectations of tapping into significant oil and natural gas resources. Preparations are underway with the rig and crew in place, and a prospective resources report suggests a potential for 163 million barrels of oil or 843 billion cubic feet of natural gas. The company is also moving forward with a joint venture process, aiming to conclude negotiations in the upcoming weeks.
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