Chariot Ltd (AIM:CHAR, OTC:OIGLF) has concluded its drilling campaign at the Anchois-3 well, located within the Lixus Offshore license off the coast of Morocco.
The well, drilled by the Stena Forth drillship, reached a total depth of 3,045 meters in 349 meters of water.
Initial analysis revealed multiple gas-bearing reservoirs within the B sands, though the gas columns were thinner than anticipated based on prior models.
Deeper targets in the C and M sands contained water rather than gas, limiting the exploration results. No flow testing was conducted before the well was plugged and abandoned.
"The Anchois East drilling campaign has evaluated all of the pre-drill reservoir targets, however results have not delivered as anticipated or in line with the excellent results of the previously drilled Anchois-2 well,” chief executive Adonis Pouroulis said in a statement.
“The primary exploration objectives were unsuccessful however, we did demonstrate the extension of gas bearing reservoirs in the main appraisal B sands albeit with thinner columns than estimated and data acquired from the other reservoirs will be useful for our understanding of the field.
“We will now work with our joint venture partners to determine the forward plan."