Canadian junior Reconnaissance Energy Africa saw its stock price soar in both Germany and Canada after reporting that the second stratigraphic well in northern Namibia's Kavango basin had, like its debut wildcat, proved the presence of a working petroleum system.

The Vancouver-based player — whose operations in the arid region have come in for flak from anti-fossil fuel campaign groups — said the 6-1 probe intercepted 134 metres of light oil and gas shows, “similar in character” to those seen in the company’s original 6-2 well, some 16 kilometres to the south.