{"id":15552,"date":"2026-01-22T06:56:40","date_gmt":"2026-01-22T06:56:40","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=15552"},"modified":"2026-01-22T06:56:42","modified_gmt":"2026-01-22T06:56:42","slug":"reconafrica-raises-funds-to-advance-multi-zone-production-testing-appraisal-drilling-in-namibia-advance-activities-at-ngulu-block","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/reconafrica-raises-funds-to-advance-multi-zone-production-testing-appraisal-drilling-in-namibia-advance-activities-at-ngulu-block\/","title":{"rendered":"ReconAfrica Raises Funds to Advance Multi-Zone Production Testing, Appraisal Drilling in Namibia &amp; Advance Activities at Ngulu Block"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">ReconAfrica is now funded in its plans to expedite activity across its portfolio following the completion its previously announced underwritten, listed issuer financing exemption offering. The offering which raised aggregate gross proceeds of C$36,800,098 was supported by the recent success at the Kavango West 1X well and the addition of the Ngulu Block offshore Gabon, which includes the Loba discovery, to the Company\u2019s portfolio. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This Offering sets out to fund that multi-pronged 2026 capital program. Net proceeds will be used for the following activities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Conducting an extensive production test and installing production casing at the Kavango West 1X discovery well;<\/li>\n\n\n\n<li>Advancing operations to spud the Kavango appraisal well;<\/li>\n\n\n\n<li>Re-processing seismic at the Loba discovery and exploration inventory on the Ngulu block in Gabon to advance towards a resource report and drill ready status of an appraisal well; and<\/li>\n\n\n\n<li>General corporate purposes and working capital.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>ReconAfrica is now funded in its plans to expedite activity across its portfolio following the completion its previously announced underwritten, listed issuer financing exemption offering. The offering which raised aggregate &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/reconafrica-raises-funds-to-advance-multi-zone-production-testing-appraisal-drilling-in-namibia-advance-activities-at-ngulu-block\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":15553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11,7444],"tags":[944,12240,12336,1675,12335,7589],"class_list":["post-15552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","category-west-africa","tag-gabon","tag-kavango-west-1x","tag-loba-discovery","tag-namibia","tag-ngulu-block","tag-reconafrica","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/ReconAfrica-Angola-MOU-April-2025.png?fit=884%2C643&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-42Q","jetpack-related-posts":[{"id":15435,"url":"https:\/\/www.oilnewskenya.com\/index.php\/reconafrica-provides-year-end-operational-update-progressing-projects-in-namibia-angola-gabon\/","url_meta":{"origin":15552,"position":0},"title":"ReconAfrica Provides Year-End Operational Update Progressing Projects in Namibia, Angola &amp; Gabon","author":"","date":"December 16, 2025","format":false,"excerpt":"Brian Reinsborough, President & CEO, commented:\u00a0\u201cWe have had an active and productive 2025 in which we advanced the Company on multiple strategic fronts. We completed drilling our second well in the Damara Fold Belt resulting in encountering of significant hydrocarbons, extended our acreage position into Angola at a low cost\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/ReconAfrica.jpg?fit=1200%2C723&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/ReconAfrica.jpg?fit=1200%2C723&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/ReconAfrica.jpg?fit=1200%2C723&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/ReconAfrica.jpg?fit=1200%2C723&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/12\/ReconAfrica.jpg?fit=1200%2C723&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15208,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-reconafrica-signs-psc-for-block-c-7\/","url_meta":{"origin":15552,"position":1},"title":"GABON: ReconAfrica Signs PSC for Block C-7","author":"","date":"September 9, 2025","format":false,"excerpt":"Reconnaissance Energy Africa has announced that\u00a0on September 8, 2025, it has entered into a production sharing contract and a joint venture agreement, led by Recon along with Record Resources , the Republic of Gabon and its national oil and gas company, Gabon Oil Company. The PSC is for the exploration,\u2026","rel":"","context":"In \"Block C-7\"","block_context":{"text":"Block C-7","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/block-c-7\/"},"img":{"alt_text":"","src":"https:\/\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Gabon-offshore.avif","width":350,"height":200,"srcset":"https:\/\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Gabon-offshore.avif 1x, https:\/\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Gabon-offshore.avif 1.5x, https:\/\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Gabon-offshore.avif 2x"},"classes":[]},{"id":15072,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-reconafrica-seeks-10m-to-drill-kavango-west-1x-well\/","url_meta":{"origin":15552,"position":2},"title":"NAMIBIA: ReconAfrica Seeks $10M to Drill Kavango West 1X well","author":"","date":"June 9, 2025","format":false,"excerpt":"Reconnaissance Energy Africa announces that it has entered into an agreement with Research Capital Corporation as the lead underwriter and sole bookrunner for an overnight marketed public offering of units of the Company at a price of C$0.50\u200e per Unit for aggregate gross proceeds to the Company of C$10,000,000. In\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/02\/Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/02\/Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/02\/Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/02\/Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/02\/Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15802,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-reconafrica-provides-kavango-west-1x-operational-update\/","url_meta":{"origin":15552,"position":3},"title":"NAMIBIA: ReconAfrica Provides Kavango West 1X Operational Update","author":"Samuel Kamau Mbote","date":"May 22, 2026","format":false,"excerpt":"Preparations for downhole production testing are advancing with equipment, trucks and crews arriving on site.\u00a0\u00a0 Permits required to begin production testing have been received from the regulatory authorities for both ReconAfrica and its service suppliers. The cement bond log test is scheduled to begin at the end of this week\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15783,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-reconafrica-progresses-toward-kavango-west-1x-production-test\/","url_meta":{"origin":15552,"position":4},"title":"NAMIBIA: ReconAfrica Progresses Toward Kavango West 1X Production Test","author":"Samuel Kamau Mbote","date":"May 14, 2026","format":false,"excerpt":"ReconAfrica (operator), along with partners NAMCOR and BW Energy, have progressed downhole testing operations at Kavango West 1X (KW1X). Equipment and services have been arriving on site, which have been procured from both Namibian and international companies to conduct this first-of-its-kind production test in Namibia. Operations will test six optimized\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-Kavango-Basin-Map-120321-1200x724-1.png?fit=1200%2C724&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15812,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-record-announces-that-a-single-loba-well-could-produce-5000-bbl-d-paving-the-way-for-20000-bbl-d-development\/","url_meta":{"origin":15552,"position":5},"title":"GABON: Record Announces that a Single Loba Well Could Produce 5,000 bbl\/d; Paving the Way for 20,000 bbl\/d Development","author":"Samuel Kamau Mbote","date":"June 4, 2026","format":false,"excerpt":"Record Resources reports that further geological and geophysical study of the Loba oil discovery and nearby analogue fields in Gabon is suggesting that a first oil well there could produce 5,000 barrels of oil per day (bbl\/d). In 2017, Alain Mizelle, President & COO, Record Resources Inc., identified the nearby\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/06\/Gabon-Ngulu-Map.png?fit=1024%2C777&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/06\/Gabon-Ngulu-Map.png?fit=1024%2C777&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/06\/Gabon-Ngulu-Map.png?fit=1024%2C777&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/06\/Gabon-Ngulu-Map.png?fit=1024%2C777&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=15552"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15552\/revisions"}],"predecessor-version":[{"id":15554,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15552\/revisions\/15554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/15553"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=15552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=15552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=15552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}