Namibia's state oil company Namcor has struck a deal with Canadian junior Reconnaissance Energy Africa (ReconAfrica) to jointly assess the resource potential of the promising Kavango basin.

Frankfurt and Toronto-listed ReconAfrica identified the existence of a new petroleum system in the Kavango basin with its debut 6-2 wildcat earlier this year, a finding confirmed by its just completed second well, called 6-1.

Under the joint operating agreement, the two companies will continue the ongoing petroleum exploration campaign in the Kavango East and Kavango West regions of Namibia, with ReconAfrica covering the full costs to commerciality.