Reconnaissance Energy Africa (TSE:RECO) has released an update.
Reconnaissance Energy Africa Ltd. and its partner NAMCOR have begun drilling the Naingopo exploration well in Namibia, which could potentially unlock over 3.1 billion barrels of oil or 18 trillion cubic feet of gas. The well is part of a larger drilling campaign in the region and is expected to reach a depth of 3,800 meters over the next 90 days. The company has also reported receiving $1.9 million from warrant exercises, contributing to its exploration funding.
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