Chariot Ltd (LSE:CHAR) has concluded its drilling campaign at the Anchois-3 well, situated within the Lixus Offshore license off the coast of Morocco. The well, drilled using the Stena Forth drillship, achieved a total depth of 3,045 meters in 349 meters of water.
Initial indicated the presence of multiple gas-bearing reservoirs within the B sandsHowever, the gas columns encountered were thinner than those projected by previous modelsThe deeper C and M sands, intended as secondary exploration, were found to contain water instead of gas, which limited the exploration outcomesNo flow testing was performed before the well was plugged and abandoned.
Chariot Ltd's Chief Executive, Adonis Pouroulis commented on the results, stating that while the drilling campaign met its primary objective of evaluating pre-drill reservoir, the results did not align with the more favorable outcomes observed in the previously drilled Anchois-2 wellAlthough the exploration objectives were not fully realized, the campaign did confirm the extension of gas-bearing reservoirs in the B sands, albeit with thinner columns than initially estimatedThe data obtained from the other reservoirs will contribute to a better understanding of the field.
The company plans to collaborate with its joint venture partners to assess the next steps moving forward based on the acquired data and the outcomes of the drilling campaign.